Market news
06.09.2012, 12:09

European session: The euro rose

Data
01:30 Australia Unemployment rate August 5.2% 5.3% 5.1%
01:30 Australia Changing the number of employed August 14.0 5.1 -8.8
03:40 Japan BOJ Governor Shirakawa Speaks -
07:00 United Kingdom Halifax house price index August -0.6% +0.3% -0.4%
07:00 United Kingdom Halifax house price index 3m Y/Y August -0.6% -0.8% -0.9%
09:00 Eurozone GDP (QoQ) (revised) Quarter II -0.2% -0.2% -0.2%
09:00 Eurozone GDP (YoY) (revised) Quarter II -0.4% -0.4% -0.5%
09:00 Eurozone Household Consumption (QoQ) Quarter II 0.0% -0.2% -0.2%
10:00 Germany Factory Orders s.a. (MoM) July -1.6% +0.3% +0.5%
10:00 Germany Factory Orders n.s.a. (YoY) July -7.8% -4.5% -4.5%
11:00 United Kingdom Asset Purchase Facility - 375 375 375
11:00 United Kingdom BoE Interest Rate Decision - 0.50% 0.50% 0.50%
11:00 United Kingdom MPC Rate Statement -
11:45 Eurozone ECB Interest Rate Decision - 0.75% 0.50%

During the day, the euro close to a two-month high against the dollar on speculation the European Central Bank will announce today details of its program to buy bonds. But after the ECB left rates unchanged euro reached a new two-month high.
The single currency rose to its highest level in more than two weeks against the yen after the central bank officials said that ECB President Mario Draghi will present the plan.
The Australian dollar advanced after a government report showed that the unemployment rate unexpectedly fell in August. Under the plan, the ECB, which could be called a "currency transaction Duel", the central bank will refrain from establishing fixed income, the amount of purchases will be unlimited, and the ECB will consider the sale of bonds, if the conditions are not satisfied and the ECB will buy short-term bonds ( up to three years). This plan will focus only on government bonds, rather than a wide range of assets
Pound little changed after the Bank of England left its key interest rate at a record low of 0.5% and maintained its asset purchase program at 375 billion pounds.
The Bank of England has cut economic forecasts last month, while the Organization for Economic Cooperation Development lowered its forecast today.

EUR/USD: during the European session, the pair showed steady growth, while setting a new high at $ 1.2650
GBP/USD: the pair grown, reaching $ 1.5925
USD/JPY: the pair was trading in a narrow range

At 12:15 GMT the United States will change in the number of employees from ADP. At 12:30 GMT will be the monthly press conference of the ECB. U.S. at 12:30 GMT will publish the number of initial claims for unemployment insurance, the number of repeated applications for unemployment benefits, at 14:00 GMT ISM composite index for the non-production sphere for August at 15:00 GMT and are data on stocks of crude oil from Department of Energy.

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