Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
01:35 Japan Manufacturing PMI (Preliminary) October 51 50.6 52.5
05:00 Japan Coincident Index (Finally) August 113.1 112.2
05:00 Japan Leading Economic Index (Finally) August 105 103.5
07:00 France Services PMI (Preliminary) October 51.9 51.6 52.3
07:00 France Manufacturing PMI (Preliminary) October 50.6 50.2 50.7
07:30 Germany Manufacturing PMI (Preliminary) October 52.3 51.6 51.6
07:30 Germany Services PMI (Preliminary) October 54.1 53.9 55.2
08:00 Eurozone Services PMI (Preliminary) October 53.7 53.5 54.2
08:00 Eurozone Manufacturing PMI (Preliminary) October 52 51.7 52.0
The U.S. dollar traded mixed against the most major currencies ahead the release of the U.S. preliminary manufacturing PMI data. The U.S. preliminary manufacturing PMI is expected to decline to 52.8 in October from 53.1 in September.
The euro traded lower against the U.S. dollar despite the positive economic data from the Eurozone. Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for the Eurozone on Friday. Eurozone's preliminary manufacturing PMI remained unchanged 52.0 in October, beating expectations for a decline to 51.7.
Eurozone's preliminary services PMI rose to 54.2 in October from 53.7 in September. Analysts had expected the index to decrease to 53.5.
Markit's Chief Economist Chris Williamson said that Eurozone's economy "picked up some momentum in October".
"The PMI remains at a level signalling a modest 0.4% quarterly rise in GDP, suggesting the region will struggle to attain more than 1.5% overall growth in 2015. The rate of job creation, although on the rise, remains insufficient to make serious headway into reducing unemployment," he added.
Germany's preliminary manufacturing PMI declined to 51.6 in October from 52.3 in September, in line with expectations.
Germany's preliminary services PMI was up to 55.2 in October from 54.1 in September. Analysts had expected index to decline to 53.9.
Markit's economist Oliver Kolodseike noted that the German economy was driven by the services sector.
France's preliminary manufacturing PMI rose to 50.7 in October from 50.6 in September, beating forecasts of a fall to 50.2.
France's preliminary services PMI increased to 52.3 in October from 51.9 in September. Analysts had expected the index to decline to 51.6.
Comments by the European Central Bank's (ECB) President Mario Draghi weighed on the euro. He said at a press conference on Thursday that the value of the ECB's asset-buying programme will be discussed at the monetary policy meeting in December. He pointed out that the central bank will expand its asset-buying programme if needed to boost inflation toward the 2% target.
The British pound traded mixed against the U.S. dollar in the absence of any major economic reports from the U.K.
The Canadian dollar traded mixed against the U.S. dollar ahead of the release of the consumer price inflation data from Canada. The consumer price index in Canada is expected to fall to 1.1% year-on-year in September from 1.3% in August.
The core consumer price index in Canada is expected to remain unchanged at 2.1% year-on-year in September.
EUR/USD: the currency pair declined to $1.1078
GBP/USD: the currency pair traded mixed
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
12:30 Canada Consumer Price Index m / m September 0.0% -0.1%
12:30 Canada Consumer price index, y/y September 1.3% 1.1%
12:30 Canada Bank of Canada Consumer Price Index Core, y/y September 2.1% 2.1%
13:00 Belgium Business Climate October -6.8
13:45 U.S. Manufacturing PMI (Preliminary) October 53.1 52.8