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06.01.2016 13:16 Foreign exchange market. European session: the euro traded higher against the U.S. dollar after the release of the mixed economic data from the Eurozone

Economic calendar (GMT0):

 

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

 

01:45 China Markit/Caixin Services PMI December 51.2 52.3 50.2

07:45 France Consumer confidence December 96 95 96

08:50 France Services PMI (Finally) December 51 50 49.8

08:55 Germany Services PMI (Finally) December 55.6 55.4 56

09:00 Eurozone Services PMI (Finally) December 54.2 53.9 54.2

09:30 United Kingdom Purchasing Manager Index Services December 55.9 55.6 55.5

10:00 Eurozone Producer Price Index, MoM November -0.3% -0.2% -0.2%

10:00 Eurozone Producer Price Index (YoY) November -3.2% Revised From -3.1% -3.1% -3.2%

12:00 U.S. MBA Mortgage Applications December 7.3% -11.6%

The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. economic data today. According to the ADP employment report, the U.S. economy is expected to add 192,000 jobs in December.

 

The ISM non-manufacturing purchasing managers' index is expected to rise to 56.0 in December from 55.9 in November.

 

The U.S. factory orders are expected to decline 0.2% in November, after a 1.5% rise in October.

 

The Fed will release its latest monetary policy minutes at 19:00 GMT.

 

The euro traded higher against the U.S. dollar after the release of the mixed economic data from the Eurozone. Markit Economics released final services purchasing managers' index (PMI) for the Eurozone on Wednesday. Eurozone's final services purchasing managers' index (PMI) remained unchanged at 54.2 in December, up from the preliminary reading of 53.9.

 

The index was driven by a rise in business activity in Germany, Italy, Spain and Ireland.

 

Eurozone's final composite output index rose to 54.3 in December from 54.2 in November, up from the preliminary reading of 54.0.

 

"The Eurozone economy starts 2016 on a solid footing and well placed to enjoy a year of robust expansion. Growth of business activity continued to edge higher at the end of 2015, with an upturn in the PMI rounding off the strongest quarter for four and-a-half years," Chief Economist at Markit Chris Williamson said.

 

He added that the Eurozone's economy grew at 0.4% in the fourth quarter and 1.5% in 2015.

 

Germany's final services purchasing managers' index (PMI) rose to 56.0 in December from 55.6 in November, up from the preliminary reading of 55.4. It was the highest level since July 2014.

 

France's final services purchasing managers' index (PMI) dropped to 49.8 in December from 51.0 in November, down from the preliminary reading of 50.0.

 

Eurostat released its producer price index for the Eurozone on Wednesday. Eurozone's producer price index declined 0.2% in November, in line with expectations, after a 0.3% decrease in October.

 

On a yearly basis, Eurozone's producer price index dropped 3.2% in November, missing expectations for a 3.1% decrease, after a 3.2% fall in October. October's figure was revised down from a 3.1% drop.

 

Eurozone's producer prices excluding energy fell 0.7% year-on-year in November.

 

The British pound traded mixed against the U.S. dollar despite the weaker-than-expected services PMI data from the U.K. Markit's and the Chartered Institute of Purchasing & Supply's services purchasing managers' index (PMI) for the U.K. declined to 55.5 in December from 55.9 in November, missing expectations for a fall to 55.6.

 

A reading above 50 indicates expansion in the sector.

 

The decline was driven by a slower growth in new business and job creation.

 

"The services sector remained the key driver of the UK's economic upturn in December, helping to offset the recent weakness seen in manufacturing and putting the economy on the starting block for another year of 2-2.5% growth in 2016," the Chief Economist at Markit Chris Williamson said.

 

He added that the U.K. economy expanded 0.5% in the fourth quarter of 2015.

 

EUR/USD: the currency pair rose to $1.0759

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair decreased to Y118.24

The most important news that are expected (GMT0):

13:15 U.S. ADP Employment Report December 217 192

13:30 Canada Trade balance, billions November -2.76 -2.6

13:30 U.S. International Trade, bln November -43.89 -44

14:45 U.S. Services PMI (Finally) December 56.1 55.1

15:00 U.S. ISM Non-Manufacturing December 55.9 56

15:00 U.S. Factory Orders November 1.5% -0.2%

15:30 U.S. Crude Oil Inventories January 2.629 -1.5

19:00 U.S. FOMC meeting minutes



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