Market news
03.08.2011, 12:16

European session: The euro pared monthly loss

 

Data:
07:55 Germany  PMI services (July) seasonally adjusted 52.9
08:00 EU(17)  PMI services (July) 51.6 
08:30 UK  CIPS services index (July) 55.4
09:00 EU(17)  Retail sales (June) adjusted 0.9%
09:00 EU(17) Retail sales (June) adjusted Y/Y -0.4%

 

The pound edged higher in early trading on Tuesday following the report showed that the U.K. service sector grew at the strongest pace in four months in July.
The headline CIPS Purchasing Managers' Index rose unexpectedly to 55.4 in July from 53.9 in June. 
The franc fell after the Swiss National Bank decided to cut its interest rate target to curb franc's sharp appreciation.

 

EUR/USD: shown high in  $1.4340 area
GBP/USD: the rate become stronger in $1.6400  area
USD/JPY: the pair holds at Y77.00-Y77.40.



ADP employment report is due to come at 12:15 GMT. 
US non-manuf ISM index and 
Jun Factory Orders are scheduled to release at 14:00 GMT.   

 

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