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  • Foreign exchange market. European session: the U.S. dollar traded mixed to lower against the most major currencies ahead of the U.S. labour market data
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05.09.2014, 12:05

Foreign exchange market. European session: the U.S. dollar traded mixed to lower against the most major currencies ahead of the U.S. labour market data

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

00:15 U.S. FOMC Member Richard Fisher Speaks

01:00 U.S. FOMC Member Narayana Kocherlakota

05:00 Japan Leading Economic Index July 105.5 107.2 106.5

05:00 Japan Coincident Index July 109.7 109.9

05:00 Japan BoJ monthly economic report

06:00 Germany Industrial Production s.a. (MoM) July +0.3% +0.5% +1.9%

06:00 Germany Industrial Production (YoY) July -0.5% +2.5%

07:00 Switzerland Foreign Currency Reserves August 453.4 453.8

08:30 United Kingdom Consumer Inflation Expectations Quarter III +2.6% +2.8%

09:00 Eurozone GDP (QoQ) (Finally) Quarter II 0.0% 0.0% 0.0%

09:00 Eurozone GDP (YoY) (Finally) Quarter II +0.7% +0.7% +0.7%

The U.S. dollar traded mixed to lower against the most major currencies ahead of the U.S. labour market data. The U.S. unemployment rate is expected to decline to 6.1% in August from 6.2% in July.

U.S. companies are expected to add 222,000 jobs in August.

The euro traded slightly higher against the U.S. dollar. The European Central Bank's (ECB) interest rate cut to 0.05% from 0.15% still weighed on the Euro.

Eurozone's gross domestic product (GDP) was flat in the second quarter, in line with expectations.

On a yearly basis, Eurozone's GDP rose 0.7% in the second quarter, in line with expectations.

German industrial production climbed 1.9% in July, exceeding expectations for a 0.5% gain, after a 0.4% rise in June. June's figure was revised up from a 0.3% increase.

The British pound traded lower against the U.S. dollar. The Bank of England's interest rate decision weighed on the pound. The Bank of England (BoE) kept its interest rates unchanged at 0.5% and its asset purchase program unchanged at £375 billion.

Consumer inflation expectations for the coming year in the UK climbed to 2.8% from 2.6% in May.

The Canadian dollar traded mixed against the U.S. dollar ahead of Canadian labour market data. Canadian unemployment rate is expected to remain unchanged at 7.0% in August.

Canada's economy is expected to add 10,300 jobs in August.

The Swiss franc traded slightly higher against the U.S. dollar. Foreign currency reserves of the Swiss National Bank increased to 453.799 billion Swiss francs in August from 453.353 billion Swiss francs in July. July's figure was revised down from 453.391 billion Swiss francs.

EUR/USD: the currency pair rose to $1.2964

GBP/USD: the currency pair fell to $1.6286

USD/JPY: the currency pair decreased to Y105.10

The most important news that are expected (GMT0):

12:30 Canada Employment August 41.7 10.3

12:30 Canada Unemployment rate August 7.0% 7.0%

12:30 U.S. Average hourly earnings August 0.0% +0.2%

12:30 U.S. Unemployment Rate August 6.2% 6.1%

12:30 U.S. Nonfarm Payrolls August 209 222

14:00 Canada Ivey Purchasing Managers Index August 54.1 55.7

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