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  • Foreign exchange market. European session: the British pound traded higher against the U.S. dollar after the better-than-expected manufacturing PMI data from the U.K.
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02.11.2015, 13:14

Foreign exchange market. European session: the British pound traded higher against the U.S. dollar after the better-than-expected manufacturing PMI data from the U.K.

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

00:30 Australia Building Permits, m/m September -9.5% Revised From -6.9% 2% 2.2%

01:35 Japan Manufacturing PMI (Finally) October 52.5 Revised From 51.0 52.5 52.4

01:45 China Markit/Caixin Manufacturing PMI October 47.2 47.5 48.3

08:15 Switzerland Retail Sales (MoM) September 0.5% 0.1%

08:15 Switzerland Retail Sales Y/Y September -0.6% Revised From -0.3% 0.2%

08:30 Switzerland Manufacturing PMI October 49.5 50.2 50.7

08:50 France Manufacturing PMI (Finally) October 50.6 50.7 50.6

08:55 Germany Manufacturing PMI (Finally) October 52.3 51.6 52.1

09:00 Eurozone Manufacturing PMI (Finally) October 52 52.0 52.3

09:30 United Kingdom Purchasing Manager Index Manufacturing October 51.8 Revised From 51.5 51.3 55.5

The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. economic data. The final manufacturing purchasing managers' index is expected to rise to 54.0 in October from 53.1 in September.

The ISM manufacturing purchasing managers' index is expected to fall to 50.0 in October from 50.2 in September.

The euro traded mixed against the U.S. dollar after the release of the better-than-expected manufacturing purchasing managers' index (PMI) from the Eurozone. Markit Economics released its final manufacturing PMI for the Eurozone on Monday. Eurozone's final manufacturing purchasing managers' index (PMI) rose to 52.3 in October from 52.0 in September, up from the preliminary reading of 52.0.

"The Eurozone manufacturing recovery remains disappointingly insipid. The October survey is signalling factory output growth of only 2% per annum, a lacklustre performance given the amount of central bank stimulus in place," Chris Williamson, Chief Economist at Markit said.

Germany's final manufacturing purchasing managers' index (PMI) declined to 52.1 in September from 52.3 in September, up from the preliminary reading of 51.6.

The decline was driven by a slower production and employment growth.

Markit Economics released its final manufacturing purchasing managers' index (PMI) for France on Monday. France's final manufacturing purchasing managers' index (PMI) remains at 50.6 in October, down from the preliminary reading of 50.7.

Output and new orders increased, while employment declined at the fastest pace since December 2014.

European Central Bank (ECB) Governing Council member Ewald Nowotny said in an interview with the Austrian newspaper Kleine Zeitung newspaper on Monday that the central bank should add further stimulus measures to boost the inflation in the Eurozone. But he added that there has been made no decision by the ECB.

The British pound traded higher against the U.S. dollar after the better-than-expected manufacturing PMI data from the U.K. Markit Economics released its manufacturing purchasing managers' index (PMI) for the U.K. on Monday. The Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. climbed to 55.5 in October from 51.8 in September, beating expectations for a fall to 51.3. September's figure was revised up from 51.5.

A reading above 50 indicates expansion.

The increase was driven by rises in output and new orders.

"The start of the final quarter saw UK manufacturing spring back into life and record its best month of factory output growth since June 2014. The revival provides a tentative suggestion that the manufacturers are pulling out of their recent funk, having been dogged by recession since the start of the year, and may help boost economic growth in the fourth quarter," Markit's Senior Economist Rob Dobson said.

The Swiss franc traded mixed against the U.S. dollar after of the release of the positive Swiss economic data. The Federal Statistical Office released its retail sales data for Switzerland on Monday. Retail sales in Switzerland were up at an annual rate of 0.2% in September, after a 0.6% drop in August. August's figure was revised down from a 0.3% fall.

On a monthly basis, retail sales increased by 0.1% in September.

Credit Suisse released its manufacturing purchasing managers' index (PMI) for Switzerland on Monday. The manufacturing purchasing managers' index in Switzerland climbed to 50.7 in October from 49.5 in September, exceeding expectations for an increase to 50.2.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair was up to $1.5496

USD/JPY: the currency pair increased to Y120.69

The most important news that are expected (GMT0):

14:45 U.S. Manufacturing PMI (Finally) October 53.1 54

15:00 U.S. Construction Spending, m/m September 0.7% 0.5%

15:00 U.S. ISM Manufacturing October 50.2 50

17:00 U.S. FOMC Member Williams Speaks

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