08 September, 2015
Eurozone on Monday was not particularly rich with news, the weak data from Europe gave euro a break under the pressure of US dollar, and led to adjustments. German industrial production volume increased by 0.7% in July, while market participants expected a more confident rate of 1.2%. In August, the index was revised from -1.4% to -0.9%. The index of investors' confidence from Sentix considerably decreased in Eurozone for current month - from 18.4 to 13.6. Due to the absence of important news from the UK, the pound rose more than a hundred points.
Due to the absence of important news from the UK, the pound rose for more than a hundred points. Yesterday, the first day of trading week in the Forex market was calm, due to the fact that US markets were not working because of the Labor Day. But today's Japanese data have already begun to influence the market actively. GDP data for the 2nd quarter were eventually revised from -0.4% to -0.3%. Indicators of the payments balance for June increased from 1.3 trillion yen to 1.32 trillion yen. A completely different situation with the euro. It is expected a decrease of the trade balance of Germany, from 21.8 billion euros against 22.0 billion in June. Also recession is waiting for France trade surplus from -2.7 billion to -3.2 billion euros. Else in 12:00 (GMT + 3) there will be published GDP data about the euro zone for the 2nd quarter, the forecast remains at 0.3%, but may be revised downward if levels of the ECB recently were fairly accurate. Recall that the ECB has reduced the GDP forecast from 1.5% to 1.4% by 2015. In the US, meanwhile, traders are preparing for outputting the data of different nature: an indicator of optimism in sphere of the NFIB of small business is expected with increasing from 95.4 to 96.0 in August. The volume of consumer lending is planned to be reduced from $20.7 billion to $18.4.
By the end of the day, it is possible to predict the decline of euro to 1.1089. Pound, despite the break through the resistance level of 1.5315, is expected on 1.5250 and lower to 1.5190. Such forecast is due to the fact that tomorrow there will be published a data on foreign trade in the UK. Market participants are waiting for the increase in negative balance from -9.2 billion pounds to -9.5 billion pounds and hardly going to buy a pound today.