Forex-news from InstaForex

[IFX_Kseniya]

Slovak Producer Price Inflation Slows For Fourth Month

Slovak producer price inflation slowed for a fourth consecutive month in July, data released by the Statistical Office of the Republic of Slovakia showed Friday.

The producer price index increased 3.3 percent year-on-year in July, slower than the 4.6 increase in June. Prices of goods meant for the domestic market rose 2.1 percent annually, slower than a 2.5 percent jump in the previous month.

Producer prices in the mining and quarrying industry moved up by 2.8 percent, while manufacturing prices advanced 4.4 percent. There was a 1 percent annual decrease in prices of electricity, gas, steam and air conditioning supply in July.

On a monthly basis, producer prices dropped 0.5 percent during the month, compared to 0.2 percent fall recorded in June. In the January-July period, total producer prices climbed 5 percent from the corresponding period last year.

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[IFXYana]

Euro At More Than 5-week High Versus Franc

The euro spiked up to more than a 5-week high of 1.1764 against the Swiss franc at 2:05 am ET Monday. The euro-franc pair is presently trading at 1.1760, compared to 1.1702 hit late New York Friday. If the euro rises further, it may target 1.21 level.


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[IFX_Kseniya]

Euro Pares Gains Against Majors


The euro pared its recent gains against its major counterparts ahead of the European session on Tuesday. The euro is now trading at 1.1865 against the franc, 111.38 against the yen, 1.4502 against the greenback and 0.8842 against the pound.

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[IFXYana]

Euro Little Changed After Germany's August Unemployment Report

Following the release of German unemployment data for August at 3:55 am ET, the euro was little changed against its major counterparts. As of 3:56 am ET, the euro was trading at 110.60 against the yen, 1.1725 versus the Swiss franc, 1.4440 against the dollar and 0.8858 against the pound.


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[IFXYana]

Euro Falls To 2-day Low Against PoundEuro Trades At 1-week Low Against U.S. Dollar

The euro fell against the U.S. dollar in early European deals on Thursday. The euro is now trading at a 1-week low of 1.4330 against the greenback, compared to Wednesday's close of 1.4370. The next downside target level for the euro is seen at 1.425.

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[IFXYana]

UK Construction Activity Eases In August

UK construction sector activity slowed more than expected in August, latest survey results from Markit Economics showed Friday.

The headline Markit/CIPS purchasing managers' index for the construction sector fell to 52.6 in August from 53.5 in July. Economists expected the index to edge down to 53.2.

A PMI reading above 50 indicates expansion of the sector, while a reading below 50 suggests contraction. This was the lowest score in the current eight-month sequence of expansion.

Both employment levels and sub-contractor usage continued to fall during the latest survey period. Input price inflation picked up to a three-month high and the rate of increase was sharp and above the series trend.

Reflecting weaker increases in both output and new business, expectations for activity weakened to its lowest level in eight months.

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[IFX_Kseniya]

European Economics Preview: Eurozone Composite PMI, Retail Sales Data Due

Composite Purchasing Managers' survey results and retail sales from Eurozone are the major statistical reports due on Monday, headlining a busy day for European economic news.

At 2.00 am ET, Statistics Finland is scheduled to issue GDP data for the second quarter. Ireland's services PMI is also due at the same time.

Turkish Statistical Institute is set to publish consumer prices and producer price figures at 3.00 am ET.

At 3.45 am ET, Italian services PMI is due. The index is forecast to rise to 49.2 in August from 48.6 in July. Final PMI data is due from France and Germany at 3.50 am and 3.55 am ET, respectively.

Eurozone composite PMI is expected at 4.00 am ET. The final composite PMI is seen at 50.7 in August, down from 51.1 flash estimate.

Eurozone sentix investor confidence is due. The indicator is seen at -17 in September, down from -13.5 points in August. In the meantime, U.K. CIPS/Markit services PMI is due.

At 5.00 am ET, Eurostat is scheduled to issue euro area retail sales figures. Economists forecast retail sales to fall 0.1 percent month-on-month in July after rising 0.7 percent in June. Annually, retail sales are expected to grow 0.1 percent.

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[IFXYana]

European Economics Preview: Eurozone GDP, German Factory Orders Data Due

Gross Domestic Product figures from Eurozone, factory orders from Germany and consumer prices from Switzerland are the major statistical reports due on Tuesday.
At 3.00 am ET, the Czech Statistical Office is scheduled to issue industrial and construction output figures. Economists expect output to grow 5 percent annually in July, down from 7.4 percent in June. The trade balance data is also due in the meantime.
The Federal Statistical Office is set to publish August inflation data at 3.15 am ET. Swiss annual inflation is seen at 0.3 percent, down from 0.5 percent in July.
At 4.00 am ET, Germany's parliament will start debate on its draft 2012 budget.
At 5.00 am ET, Eurostat is slated to release second estimate for the Eurozone GDP. The statistical office is expected to confirm 0.2 percent sequential growth for the second quarter.
The Federal Ministry of Economy and Technology is scheduled to issue German factory orders at 6.00 am ET. After rising 1.8 percent month-on-month in June, factory orders are forecast to drop 1.5 percent in July.

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[IFX_Kseniya]

European Banking Authority concerned About Capital Supply says Eba Executive Director

News
European Banking Authority has asked sovereign watchdogs to observe Liquidity situation in their respective domain said a EBA Executive Director Adam Farkas to Financial Times Deutschland
Quotes
"The availability of capital, the opportunity for banks to get medium and long-term financing and get short-term credit, are a cause for concern, But this does not yet present any risk and is not an emergency situation,"
EBA Executive Director Adam Farkas to Financial Times Deutschland

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[IFXYana]

ECB Likely To Scale Back Rate Hikes: Capital Economics

The European Central Bank, or ECB, is most likely to reverse its recent rate hikes due to weak economic outlook and fading upside risks to price stability, Jennifer McKeown, a senior economist at Capital Economics, said.
ECB President Jean-Claude Trichet's statement that the risks to price stability were now balanced rather than on the upside has confirmed that the bank's earlier policy tightening bias has disappeared entirely, McKeown noted.
ECB hiked the interest rates twice this year to contain inflationary pressures.
The updated ECB staff forecast now signals a slower growth for the Eurozone this year and the next. As per the revised forecasts, the economy is expected to grow between 1.4 percent and 1.8 percent in 2011 and between 0.4 percent and 2.2 percent in 2012.
However, McKeown noted that the economy will slow much more dramatically than even the ECB's new forecast implies as the decline in euro-zone export orders and the recent slump in consumer confidence seems to confirm that consumers will not pick up the slack.

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