Market news
02.09.2011, 09:07

Asian session review: Dollar keeps positive mood

Data released:
06:00     Germany     GDP (Q2) revised    0.1%    0.1%    1.5%
06:00     Germany     GDP (Q2) revised Y/Y    2.7%    2.7%    4.9%
06:00     UK     Nationwide house price index (August)    -0.6%    0.1%    0.2%
06:00     UK     Nationwide house price index (August) Y/Y    -0.4%    -    -0.4%
07:45     Italy     PMI (August)    47.0    49.1    50.1
07:50     France     PMI (August)    49.1    49.3    50.5
07:55     Germany     PMI (August) seasonally adjusted    50.9    52.0    52.0
08:00     EU(17)     PMI (August)    49.0    49.7    50.4
08:30     UK     CIPS manufacturing index (August)    49.0    48.8    49.1

The Swiss franc and the yen strengthened as talks between Greece and a visiting troika of international inspectors has been suspended over a dispute regarding Greek deficit targets.
before data forecast to show that U.S. job growth slowed last month and on reports the Federal government will sue banks over mortgage-backed securities.
The franc gained for a third day against the euro as Asian stocks and U.S. equity futures declined, spurring demand for safer assets. The euro extended its biggest weekly loss versus the dollar in two months before a German report next week that economists said will show factory orders fell.
The MSCI Asia Pacific Index of shares retreated 1 percent, snapping a six-day gain. Futures on the Standard & Poor’s 500 Index slipped 0.3 percent.


EUR/USD
from  $1.4280 retreated to current $1.4220.
GBP/USD
currently holds at $1.6200.
USD/JPY
remains under Y77.00.

At 1230GMT, US non-farm payrolls are forecast to rise only 70,000 for August after the 117,000 increase in July, while the  unemployment rate is expected to stay at 9.1%. The strike at Verizon should have a large impact on payrolls this month. Hourly earnings are seen rising 0.2% after see-sawing sharply in the last three months. The average workweek is expected to hold steady at 34.3 hours for another month.

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