The Aussie weakened the most since the beginning of July as the traders anticipate the RBA to cut the interest rates, following the jobless rate reaching its peak since 2002. The Australian Dollar depreciated at least 0.5% against all 31 major peer. The Australia's unemployment rate exceeded the U.S. level for the first time in seven years. The Aussie dropped 0.9% to 92.70 U.S. cents, the
Australia's jobless numbers were larger than the US for the first time since 2007 sending the Aussie into a steep fall. The unemployment data came out at 6.4% rising from 6% as this high of a number was not even seen in the financial crisis, when the boom in Australia's mining helped keep it lower. Furthermore, the AUD/USD dropped from 93.43 to 92.87 after the
The Sterling depreciated versus the Greenback on Wednesday, following the issue of the U.K. manufacturing and industrial output reports that forced the investors to rethink their assessments as to when the BoE is going to tighten policy. GBP/USD dropped 0.23% and was trading down at 1.6848. The manufacturing output in the U.K. rose by only 0.3% in June, below projected 0.6%.
Germany's industrial production growth was smaller than forecast as the country faced distress in its relations with Russia. The industrial output grew 0.3% in June compared to the 1.7% decline the previous month and with the EU agreeing on sanctions against Russia many of its other economic indicators have also reached lower levels. In addition the EUR/USD pair fell to 1.3376 after the news.
The Yen grew the most in the last four months following the outburst in the relations between Russia and the Western nations over Ukraine, which stifled the attractiveness of riskier assets. The Yen jumped 0.5% to 102.10 per Dollar after appreciating as much as 0.8%, the highest level since April 8th. The Yen also gained 0.4% to 136.64 per Euro.
Unpredictably, the trade deficit in the US shrank to 41.54 billion from 44.66 previous month (the figure was revised from 44.4). According to analysts, the trade gap was expected to increase to 44.7 in June. This decrease was driven by higher exports (0.1%) and lower imports (-1.2%). After the release the Greenback rose to 1.3347 against the Euro.
The Pound fell after a three day increase as the UK's economic data proved to be very weak. Scotland's referendum debate, inflation and production data all contributed to the decline. The Pound Sterling lost 0.4% against the Dollar and the Cable traded at 1.6822. Also, the 10-year gilt yields fell to their lowest level in a year.
The Yen climbed to its highest intraday price against the Greenback, coming near to the highest value in one week, indicating risk aversion in the market. Due on Friday is the Bank of Japan meeting, where the decision regarding BoJ's easing programme will be announced. The Japanese Yen rose by 0.21% to 102.37 versus the US Dollar.
The third biggest economy in the Euro zone, Italy, is still in recession. Data regarding the preliminary gross domestic product showed that Italy's GDP diminished by 0.2% on the second quarter. Analysts had forecast that it would recover from the previous quarter's 0.1% downfall and expected it to rise by 0.1%. During the previous year the Italian economy contracted 1.9%.
The forecast for industrial production in the United Kingdom was 0.6%, according to a Bloomberg survey. However, the release showed that production only managed to inch up by 0.3%, causing the Cable to prolong its losses, trading at 1.6839 earlier today. In another release, manufacturing production was revealed to be disappointing as well, rising 0.3% in June.
The Euro reached its lowest level in nine months against the Greenback on Tuesday as the service sector data for the Euro zone did not convince in robustness of its economy. Even though the services PMI for the whole union was above expectations, Italy's data disappointed. Furthermore, US positive service sector number also weighed on the EUR/USD pair.
The Australian Dollar appreciated versus its U.S. peer on Wednesday, though growth is expected to remain restricted, following U.S. economic reports released on Tuesday that secure attractiveness of the Greenback. AUD/USD reached 0.9343 yesterday afternoon, consolidating at 0.9315. The Aussie came under pressure yesterday, following the RBA decision to keep interest rate on the record low 2.5%.
For the second time this week the West Texas Intermediate climbed as US stockpiles declined. The Brent also rose in London. The drop in supplies, amounting a total of 5.5 million barrels, caused the WTI futures to increase by 0.4%. For September, the futures climbed by 34 cents to 97.72 on the NYME.
The New Zealand Dollar reached the weakest level in two months versus its U.S. peer on Wednesday, as the employment figures showed that the number of the new jobs in New Zealand missed the expectations in the second quarter. NZD/USD reached 0.8424, the lowest level since June 4. The pair consolidated afterwards at 0.8439, depreciating 0.34%.
U.K shop prices dropped by a record last month, pointing inflation pressure remains suppressed as the BoE policy makers start their monthly meeting. The British Retail Consortium reported today prices in the shops decreased annual 1.9%, the most since 2006. The CPI is below the Bank of England's 2% target and it is projected the BoE will keep the interest rate on the same level of
US stocks closed lower on Tuesday as they plummeted in the afternoon with concerns about Ukraine having a large effect. As reports came out that Russian troops were gathering near the Ukraine border stocks from the energy sector took the biggest hit falling 2.1%. Overall, the DJI finished 0.84% lower and the S&P 500 fell 0.97%.
New Zealand employers recruited workers at a slower pace than projected in the second quarter, adding to omens that economic growth is decelerating, reacting to higher borrowing costs. The employment rose 0.4%, adding 10,000 jobs, compared to the first quarter, when the employment increased 0.9%. The unemployment rate dropped to 5.6%, the lowest level in nearly five years.
The US Dollar index was near a 11-month high as upbeat US data helped it climb on Wednesday. With the index reaching 81.626 on Tuesday the last number was not far off at 81.550. In addition the main force behind the move was the US services sector and factory orders data. Meanwhile, the Kiwi was lower due to falling milk prices.
The Sterling strengthened versus the U.S. Dollar as figures revealed the U.K. service sector was highly active in July. The Cable was trading at 1.6873 yesterday afternoon. Moreover the Sterling appreciated versus the common currency, with EUR/GBP standing at 0.7923, and versus the Yen, with GBP/JPY up 0.25% reaching 173.28. The U.K. service sector grew at the fastest pace during the last eight months in July.
West Texas Intermediate was near its three day highs before the US supply data. The WTI was up 20 cents as the futures for September were trading at $98.49 a barrel. With the Texas light sweet falling 4.1% last week the inventories will show the further direction of the crude. Meanwhile, Brent for the same month was little changed at $105.37 a barrel.
Within the block of eighteen nations, composing the Euro zone, retail sales rose by 0.4% from the previous month, adding up to a total of 2.4% while on a year-on-year basis. The data, which proved to be marginally less than forecast, reflects patterns in consumer spending. Due to be held on Thursday is the ECB meeting on the topic of
Britain's service sector activity grew rapidly in July, providing positive signs over the U.K. economic outlook. The services PMI jumped to 59.1, well ahead of the expected 57.9. The analysts forecast 0.8% growth in GDP if the service sector activity develops at the same pace in the upcoming months.
The Euro Zone services PMI decreased in the second quarter, the reports indicated today. The figures showed the index slipped to 54.2 from 54.4 in the first quarter. The analysts anticipated the data to remain unchanged. However, the reading stays comfortably above the 50.0 threshold as the Euro Zone slowly recovers from the most recent recession.
英国7月服务业PMI值于8月5日公布，数据显示为服务业PMI升至8个月高点59.1，高于预期的57.9。也大大高于6月的57.7。上周公布的制造业PMI值表现疲软，触底一年低点，但结合周一强健的建筑业PMI和表现优秀的服务业PMI，足以将7月综合PMI推升至3个月高点，达到59.1，高于六月的58.4。综合表现优秀。