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19:20

American focus: the pound rose sharply against the dollar

The euro exchange rate is trading weaker against the U.S. dollar, although it regained some of the lost ground earlier. Note that the drop in the value of the single currency was even out strong GDP data for the euro zone, Germany and France. As it became known, eurozone GDP in the 2nd quarter, up 0.3% compared with the previous quarter. Compared to the same period last year, GDP Monetary Union fell by 0.7%. The results were better than expected by experts who predicted the growth of the first indicator by 0.2%, and the fall of the second - by 0,8%.

According to revised data, in the 1st quarter of the euro zone economy falling relative to the fourth quarter was 0.3%, not 0.2% as previously expected.

The most significant increase in GDP was recorded in Germany and France, which are the largest in the eurozone. The German economy grew by 0.7%, while experts predicted growth of 0.6%. The French economy for the period increased by 0.5%, analysts were expecting a 0.2% rise.

Note that in the course of trade was influenced by the U.S. data, although to a lesser extent.

The Labor Department said producer prices in the U.S. unexpectedly remained unchanged in July, as rising pharmaceutical costs offset the fall in energy prices.

According to the report, the producer price index was flat in July after a 0.8% increase in June. Economists had expected the index to rise by 0.4%.

Basic producer price index, which excludes food and energy, rose 0.1% in July after rising 0.2% the previous month. According to expectations, the underlying index should have grown by 0.2%. The index of producer prices for cars in July fell by 1.1%. The index of producer prices for energy carriers in July fell by 0.2%. The index of producer prices for raw materials in July rose by 1.2%. The index of producer prices for intermediate goods in July remained unchanged.

Value of the pound has risen substantially against the dollar, which was associated with the release of data on the labor market and the publication of minutes of the Bank of England.

In July, the unemployment rate in Britain fell by 29.2 million, exceeding the median forecast of -14.3 million and were better than the result of the June -29.4 million (restated). Unemployment rate by ILO standards in the three months to June remained at around 7.8%.

As shown by the Bank of England meeting minutes from July 31-August 1, members of the MPC voted unanimously to maintain the interest rate at around 0.5%.

Meanwhile, transparent communication policy, proposed by Mark Carney, and assuming that the Central Bank will not raise rates from the current level as long as inflation in the next 18-24 months will not fall under the 2.5% mark, won the support of 8 members. Martin Weale voted against the adoption of the new policy, explaining it by the fact that the "preferred to him in the time range of the inflation forecast is shorter than what was proposed."

All members of the MPC unanimously in favor of keeping the size of the previous program of asset purchases (£ 375 billion). However, some members of the MPC noted that you may need additional stimulus, but this will depend on the first effects of the policy of transparency.

In addition, the report showed that all members of the MPC considered market expectations for a rate hike, "Central Bank forecasts inappropriate" for the British economy.

The Australian dollar rose against its U.S. counterpart, which has helped the publication of positive data on Australia.

As the results of recent studies that have been presented today Melbourne Institute and Westpac, in the current month Australian consumer sentiment index rose because the last rate cut, it seems, has led to the fact that people have become more confident in their financial opportunities that promises growth consumption in the coming months. According to a report, in the month of August consumer sentiment index rose by 3.5%, reaching a level of 105.7 in this case. In addition, it was reported that over the past 12 months, the index increased by 9.4%.

In addition, the data showed that on issues of family finances compared to last year growth in August was an impressive 13%. At the same time, it became known that the rate of Finance forecast for the next 12 months increased by 9.7%, as compared to August last year, an increase of 23%.

We also add that the index, which tracks expectations for the economy over the next 12 months also increased significantly - by 5.5%, while respondents were more careful in the forecast for the next five years.

15:30

U.S.: Crude Oil Inventories, August -2.8

14:59

Swiss economic sentiment improves further in August: ZEW

Switzerland's economic confidence improved for the second successive month in August, a monthly survey by the Centre for European Economic Research in cooperation with Credit Suisse showed Wednesday.
The ZEW-CS Indicator of economic expectations, which reflects expectations of surveyed financial market experts regarding economic development in Switzerland on a six-month time horizon, advanced to 7.2 points in August from 4.8 points in July.
The latest reading suggests that expectations for the economy might move over to a gentle upwards trend, after staying at near-stable levels for three consecutive months.
In August, a higher number of analysts said they expect economic conditions to remain stable in the next six months. Meanwhile, the share of pessimists remained unchanged.
The measure of experts' views of the current economic situation in Switzerland improved by 4.7 points to 30.9 points in August, hitting the highest level since August 2011.
At the same time, the indicator of economic expectations for the Eurozone increased by 9.8 points month-on-month in August to 41.4 points, reaching the highest level since February 2010.

14:44

Option expiries for today's 1400GMT cut

EUR/USD $1.3175, $1.3200

USD/JPY Y97.45, Y97.60, Y97.75, Y97.85, Y98.25, Y100.00

EUR/JPY Y129.00

GBP/USD $1.5380, $1.5400, $1.5495, $1.5500, $1.5600

EUR/GBP stg0.8620

GBP/JPY Y150.90

GBP/CAD C$1.5980

EUR/CHF Chf1.2375

AUD/USD $0.9000, $0.9035, $0.9080, $0.9100, $0.9140, $0.9175, $0.9200

13:59

U.S. producer prices come in unchanged in July

With an increase in prices for pharmaceutical preparations offset by a drop in energy prices, the Labor Department released a report on Wednesday showing that U.S. producer prices unexpectedly came in unchanged in the month of July.

The Labor Department said its producer price index was unchanged in July following a 0.8 percent increase in June. Economists had been expecting the index to increase by about 0.3 percent.

The core producer price index, which excludes food and energy prices, edged up by 0.1 percent in July after rising by 0.2 percent in the previous month. Core prices had been expected to show another 0.2 percent increase.