Data released (actual, consensus, previous):
06:00 GMT UK Nationwide Housing Prices s.a (MoM) (Jul) 0.8% 0.4% 0.3%
06:00 GMT UK Nationwide Housing Prices n.s.a (YoY) (Jul) 3.9% 3.1% 1.9%
08:30 GMT UK PMI Construction (Jul) 57.0 51.6 51.0
09:00 GMT EMU Producer Price Index (MoM) (Jun) 0.0% 0.0% -0.3%
09:00 GMT EMU Producer Price Index (YoY) (Jun) 0.3% 0.2% -0.2%
06:00 GMT UK Nationwide Housing Prices s.a (MoM) (Jul) 0.8% 0.4% 0.3%
06:00 GMT UK Nationwide Housing Prices n.s.a (YoY) (Jul) 3.9% 3.1% 1.9%
08:30 GMT UK PMI Construction (Jul) 57.0 51.6 51.0
09:00 GMT EMU Producer Price Index (MoM) (Jun) 0.0% 0.0% -0.3%
09:00 GMT EMU Producer Price Index (YoY) (Jun) 0.3% 0.2% -0.2%
The main currencies trades in narrow ranges awaited for monthly U.S jobs report, slated for release later Friday.
If we do get a +225k number today, it would be the highest July payroll number since 2005. The Bloomberg median consensus is still around 185k, but a number of estimates in the last 24 hours have been in the 190-210k range - due in part to yesterday’s above-consensus ISM reading and Wednesday’s +200k ADP employment report.
After its policy meeting earlier this week, the Fed slightly downgraded its economic view and didn’t offer any signals as to when it would start tapering asset purchases, currently set at $85 billion a month.
EURO:
The euro stays in the narrow range.
The euro stays in the narrow range.
Data released showed the Eurozone Producer Price Index rose 0.3% in June, compared with the 0.2% fall in May. This result is almost in line with expectations of 0.2% growth. Month-over-month EMU PPI remained unchanged in June, following a 0.3% decrease, as projected.
EUR/USD consolidating above 1.3200 facing the next resistance at 1.3320 ahead of 1.3345 (high Jul.31) and then 1.3420. On the downside, a break below 1.3160/80 will increase berish sentiment.
POUND:
The UK PMI Construction jumped to 57 In July from 51 in June, the Chartered Institute of Purchasing & Supply and Markit Economics reported today. This result considerably exceeds expectations of an increase to 51.6 and is the highest since June 2010 when it stood at 58.4.
Data released earlier showed on an annual basis UK Nationwide Housing Prices increased 3.9% in July, up from the 1.9% rise the previous month.
The UK PMI Construction jumped to 57 In July from 51 in June, the Chartered Institute of Purchasing & Supply and Markit Economics reported today. This result considerably exceeds expectations of an increase to 51.6 and is the highest since June 2010 when it stood at 58.4.
Data released earlier showed on an annual basis UK Nationwide Housing Prices increased 3.9% in July, up from the 1.9% rise the previous month.
GBP/USD holds in range $1.5160/80. Initial resistance is around $1.5250/60 (Jul 31 highs and Jul 25 lows), then - at $1.5416 (Jul 26 highs) and $1.5480 (Jun 25 highs). Strong support comes at Asian lows on $1.5100 with a break under widens losses to $1.5080 (Jul 17 lows) and $1.5025 (Jul 15 lows).
YEN:
The yen reamins under pressure.
The yen reamins under pressure.
USD/JPY rocketed to Y99.75, breaking above the resistance at Y99.00. Further resistance comes at Y100.00 (channel line from Jul 7) and Y100.80 (Jul 19 highs). Initial support is around Y98.50 (50% of the recent rally) and Y97.60 (Jul 31 lows).
DATA AHEAD:
The main event of the day is due to comes at 12:30 GMT with Jul Nonfarm Payrolls data. Analysts predict 184K gain after 195K in June. The Unemployment Rate is estimated down to 7.5% after 7.6%.
The same time Jun Personal Spending/Income come.
At 14:00 GMT Jun Factory Orders may show 0.8% rise after 2.1%.
The main event of the day is due to comes at 12:30 GMT with Jul Nonfarm Payrolls data. Analysts predict 184K gain after 195K in June. The Unemployment Rate is estimated down to 7.5% after 7.6%.
The same time Jun Personal Spending/Income come.
At 14:00 GMT Jun Factory Orders may show 0.8% rise after 2.1%.
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