Investiční bankovnictví (Komerční banka)
World markets  |  August 06, 2012 08:21:00

Decline in risk aversion supported the euro against the dollar

Euro dollar market flourished at the end of the week, when a common European currency scored major gains more than half a percent. Investors likely to evaluate a positive surprise from U.S. labor market as good news for risky assets and thus reduce their holdings of dollar assets safe.

Number of newly created jobs in the U.S. economy surpassed expectations of the market (100 thousand)., Reaching 163 thousand in July., Representing strong growth over the (revised downwards) 64 thousand. from the previous month. The reason for the growth of jobs in the private sector by 172 thousand. On the contrary, the public sector which is struggling with the need for savings, statistics from the July 9 thousand. jobs eased. The July unemployment rate, however, rose slightly to 8.3%.

The July PMI index of services pleasantly surprised. Index for the euro area was revised up slightly to 47.9 points from 47.6 points, but still remains deep in contraction zone. The German index has been revised from the original estimate of 49.7 points to 50.3 points. A positive surprise came with the indicator of retail sales in the euro area, which according to his mom in June rose by 0.1% (market -0.1%). Annual growth remains in the red value of -1.2% y / y (-1.9% market).

Today, the main markets not expect any major macroeconomic data.

Author: Mark Dřímal

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