Market news
03.03.2014, 13:15

European session: The yen has risen considerably against the U.S. dollar

Data

00:00 Australia HIA New Home Sales, m/m January -0.4% +0.5%

00:30 Australia ANZ Job Advertisements (MoM) February -0.3% +5.1%

00:30 Australia Company Operating Profits Quarter IV +3.9% +2.3% +1.7%

01:00 China Non-Manufacturing PMI February 53.4 55.0

01:45 China HSBC Manufacturing PMI (Finally) February 48.3 48.5 48.5

05:30 Australia Commodity Prices, Y/Y February -9.9% -12.1%

08:30 Switzerland Manufacturing PMI February 56.1 57.2 57.6

08:48 France Manufacturing PMI (Finally) February 48.5 49.7

08:53 Germany Manufacturing PMI (Finally) February 54.7 54.8

08:58 Eurozone Manufacturing PMI (Finally) February 53.0 53.0 53.2

09:30 United Kingdom Purchasing Manager Index Manufacturing February 56.7 56.9 56.9

09:30 United Kingdom Net Lending to Individuals, bln January 2.3 2.5 2.1

09:30 United Kingdom Mortgage Approvals July 72.79 Revised From 71.64 72.00 76.94


Rate of the euro retreated from the maximum values ​​against the dollar, while returning to the levels of the session. Little support was data on index of industrial activity , but interest in him was short-lived , and attention gradually began to switch to U.S. reports , which caused the fall of the euro currency . Recall that the growth in the eurozone manufacturing sector weakened in February, but to a lesser extent than previously . This was stated in the final data , which were published earlier today by Markit Economics. According to the report , the seasonally adjusted purchasing managers' index for the manufacturing fell to 53.2 in February from 54 in January , the highest reading in 32 months . We add that the decline in February was the first in five months. Result was also slightly higher than previously estimated - at 53 points. The index currently remains above the mark of 50 points , which separates growth from contraction for the eighth consecutive month.

We also learned that the manufacturing sector continued to show growth in Germany in February , and has expanded more than initially expected. According to the report , the manufacturing purchasing managers index from Markit / BME fell to 54.8 points in February from January's 32-month high of 56.5 . Recall that originally reported on the significance of this indicator at the level of 54.7 points. The index remains above the neutral mark of 50 points for the eighth consecutive month.

The yen rose against the dollar significantly as a result of increased demand for safe-haven currencies after entering the Russian armed forces on the territory of Ukraine. It was learned that U.S. Secretary of State tomorrow John Kerry will travel to Kiev to meet with Ukrainian leaders and likely offer support. Tension in the region has reached its peak since the " cold war ." In addition , the White House announced the termination of countries G7 ( Canada, France, Germany, Italy, Japan, the UK and the U.S.) up to the summit of "eight " in Sochi . G7 countries expressed their support for the sovereignty and territorial integrity of Ukraine and intend to support the country in dealing with the IMF to draw up a new lending program .

Pound shows sharp fluctuations against the dollar, but in general , trading in a small range. On the dynamics of trade influenced the British data , which showed that the UK manufacturing sector continued its expansion in February , registering with several large pace than in the previous month . It became known from the survey results , which were released Markit Economics and the Royal Institute of Purchasing and Supply (CIPS). According to the report , the seasonally adjusted purchasing managers' index for the manufacturing sector rose in February to a level of 56.9 , compared with 56.6 in January , the figure for which was revised down from 56.7 . A reading above 50 indicates an increase in activity, while a drop below indicates contraction. The index currently remains above the neutral point of the eleventh month in a row .


EUR / USD: during the European session, the pair fell to $ 1.3758

GBP / USD: during the European session, the pair traded in the range of $ 1.6700 -$ 1.6750

USD / JPY: during the European session, the pair dropped to Y101.19


At 13:30 GMT , Canada will present the raw material price index for January, while the U.S. will release the main index for personal consumption expenditures for January and will report on changes in the level of expenses for January . At 14:30 GMT , Canada will release PMI index for the manufacturing of RBC in February. At 15:00 GMT the U.S. will release the ISM manufacturing index for February. At 23:50 GMT , Japan will announce to the change in the monetary base in February.

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