Euro weaker due to profit-taking
The euro against the dollar yesterday morning still attributing profits from the level 1.3050 USD / EUR up to 1.3085, but later started to occur to profit taking (the European currency since the second half of July credited against the dollar at around 8%), the common European currency as declined below 1.3000 USD / EUR. Of course, profit taking may continue, especially if they come from the Eurozone worse data.
From the data published yesterday is worth mentioning only the data from the U.S. real estate market, which pleased. Today we will see the preliminary PMI index for September. Industrial index would, according to our colleagues had slightly improved from 45.1 points to 46.1 points, similar to the index of services from 47.2 points to 48.2 points. Unlike our colleagues, the market is a bit more conservative, but expects an improvement in both indices. Perhaps the most important reason behind the improving sentiment should be action central bankers from the Fed and the ECB. Will also be interesting to follow the development of retail sales in the UK in August. In the USA, will be published weekly new unemployment applications (should decrease slightly from 380 thousand. Thousand to 370.) And the index of industrial neighborhood of Philadelphia, where he is expected to improve from -7.1 points to -4.0 points.Since this week failed a similar index from the vicinity of New York, it is possible that we will see the disappointment even for this index (the correlation between the two indexes is high).
Author: Jiri Skop
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