European session review: the pound fell sharply against the US dollar

Data:

01:30 Australia RBA Meeting's Minutes

06:00 Switzerland Trade Balance June 3.409 Revised From 3.43 3.578

08:30 United Kingdom PSNB, bln June -8.35 Revised From -9.35 -8.6 -8.58

The pound fell sharply against the dollar, updating yesterday's low. Traders continue to analyze the report on the state finances of Britain, and are waiting for the publication of the minutes of the Bank of England, especially after the Central Bank head Carney hinted at prospects for a rate hike at the end of 2015 or early 2016. As previously reported, the British government borrowing fell in June, but slightly less than predicted by experts. However, the last value was the lowest for the month for the past seven years. According to the data, net borrowing state. sector (excluding public sector banks) decreased to 9.4 billion. pounds in June from 10.2 billion. pounds a year earlier, compared with economists' forecasts at -8.5 billion. lbs. For the first three months of fiscal year 2015/16, net borrowing of the public sector amounted to 25.1 billion. Pounds, which is almost 20 percent lower than in April-June last year. We also add the last value was the lowest since the April-June 2008/09 financial year. The ONS said that tax revenues in June increased by 0.3 billion. To 11.5 billion pounds. Pounds, its highest level since the start of statistics (1997). Income taxes increased by almost 14 percent, to 1.7 billion. Pounds, which is also the maximum value for all the time.

The euro rose against the dollar significantly, approaching to yesterday's high. Experts point out that there are no releases or significant events in Europe and the US market's attention is directed to the dynamics of interest in risky assets. The ratio of the market against the euro also improved after Greece made payments on the debt, and the IMF and the ECB opened its banks. Yesterday the Greek banks have resumed work after a three-week break, and today the government has submitted to parliament a bill that would require lenders to start negotiations on a new program of financial aid. Parliament must adopt the bills on Wednesday. The most controversial proposal of creditors concerning early retirement pension and citizens to improve the taxation of farmers who raise serious objections from the left wing of the ruling party, SYRIZA, and many representatives of the opposition, were removed from the bill, which greatly increases the chances that it will be approved by the Greek parliament majority.

The focus also remains a divergence in monetary policy of the ECB and the Fed. Meanwhile, traders are waiting for preliminary data on the euro zone PMI, scheduled for Friday, and the FOMC meeting next week, especially after the last performance Yellen and favorable US reports. Also recall that yesterday the Fed Bullard said a 50% probability of a rate hike in September, while supporting the US dollar.

Ian shows a slight decline against the US dollar, while remaining close to the monthly minimum. In the course of trading influenced the July report of the Government of Japan. Recall, the government lowered its estimate of industrial production and identify potential risks associated with the slowdown of the Chinese economy. Overall assessment of the economic situation in Japan was left unchanged. "The growth rate of China's economy is slowing down a bit. Though it had no apparent effect on Japan's economy, should closely monitor the pace of economic activity in China," - said the representative of the government at a press conference. The representative of the Government of Japan said that the weakness of the production of small cars and parts for smart phones has a negative impact on industrial production in Japan as a whole. Restoration of activity so far not observed in all sectors of the economy, especially behind the regional small and medium enterprises.

EUR / USD: during the European session, the pair rose to $ 1.0877

GBP / USD: during the European session, the pair has risen traded in the range of $ 1.5590- $ 1.5527

USD / JPY: during the European session the pair fell to Y124.24

At 20:30 GMT the United States will declare the change of volume of crude oil reserves (according to API),