Market news
17.08.2011, 12:25

European session: The franc strengthened

Data:

08:00 EU(17) Current account (June) unadjusted, bln -3.3
08:00 EU(17) Current account (June) adjusted, bln -7.4
08:30 UK Claimant count (July) 37100
08:30 UK Claimant count rate (July) 4.9%
08:30 UK Average earnings (3 months to June) Y/Y 2.6%
08:30 UK Average earnings ex bonuses (3 months to June) Y/Y 2.2% 
08:30 UK ILO Jobless rate (June) 7.9% 
08:30 UK BoE meeting minutes (03-04.08)  
09:00 EU(17) Harmonized CPI (July) final -0.6%
09:00 EU(17) Harmonized CPI (July) final Y/Y 2.5%
09:00 EU(17) Harmonized CPI ex EFAT (July) Y/Y 1.2% 

The franc strengthened after the Swiss central bank stopped short of announcing a target rate or temporary peg to the euro in its third attempt in as many weeks to drive down the currency.
The Swiss National Bank will boost liquidity to the money market, expanding banks’ sight deposits to 200 billion francs ($253 billion) from 120 billion francs, it said in a statement today.
Dollar fell as US Stock index futures rose on Wednesday alongside oil prices and the euro, indicating a shift to risky assets ahead of U.S. inflation data.
Investor focus shifted away from a Franco-German meeting that failed to calm fears about the possible spread of Europe's debt crisis and hurt stocks on Tuesday.

EUR/USD: the pair grown in area $1.4490.
GBP/USD: the pair shown low in area $1.6350 then become stronger above  $1.6500.
USD/JPY: the pair  decreased in area Y76.50.

US PPI report will be in focus at 12:30 GMT.
EIA releases its oil stocks data at 14:30 GMT.



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