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09.09.2014, 15:40

Foreign exchange market. American session: the Canadian dollar dropped against the U.S. dollar after the weaker-than-expected Canadian housing starts

The U.S. dollar traded mixed against the most major currencies. The greenback remained supported by yesterday's San Francisco Federal Reserve research report. The report showed that investors were underestimating the start of interest rate hike by the Fed. The Fed could raise its interest rate sooner than expected.

The U.S. Bureau of Labor Statistics released the Job Openings and Labor Turnover Survey (JOLTS) report on Tuesday. Job openings in the U.S. declined to 4.673 million in July from a revised reading of 4.675 million in June, missing expectations for an increase to 4.705 million.

The euro traded higher against the U.S. dollar. The European Central Bank's interest rate cut still weighed on the euro.

France's trade deficit fell to €5.5 billion in July from a deficit of €5.6 billion in June, missing expectations for a decline to a deficit of €5.0 billion. June's figure was revised down from a deficit of €5.4 billion.

The British pound traded mixed against the U.S. dollar after the mixed U.K. economic data. The U.K. trade deficit rose to £10.19 billion in July from £9.41 billion in June. Analysts had expected the trade deficit to decline to £9.10 billion.

The U.K. manufacturing production climbed 0.3% in July, in line with expectations, after a 0.3% rise in June.

The U.K. industrial production rose 0.5% in July, exceeding expectations for a 0.2% rise, after 0.3% gain in June.

The National Institute of Economic and Social Research (NIESR) released its estimated gross domestic product (GDP) today. The estimated UK GDP grew by 0.6% in the three months to August, after a 0.5% growth from May to July, which figure was revised down from a 0.6% rise.

The Bank of England (BoE) Governor Mark Carney said at the TUC's annual meeting that the BoE could start to hike its interest rates next spring.

A weekend Scotland's independence poll still weighed on the pound. The poll showed 47% said "yes" to independence, while 45% said "no", with the rest undecided. That was the first time lead for "yes" campaign.

The Canadian dollar dropped against the U.S. dollar after the weaker-than-expected Canadian housing starts. Housing starts in Canada declined to 192,400 units in August from 199,800 units in July, missing expectations for a drop to 197,000 units.

The New Zealand dollar traded slightly lower against the U.S dollar in the absence of any major economic reports from New Zealand.

The Australian dollar traded lower against the U.S. dollar after the weaker-than-expected economic data from Australia. The National Australia Bank's business confidence index declined to 8 in August from 11 in July.

Home loans in Australia climbed 0.3% in July, missing expectations for a 1.1% rise, after a 0.1% increase. June's figure was revised down from a 0.2% gain.

The Japanese yen traded mixed against the U.S. dollar. Japan's tertiary industry index remained flat in July, beating forecasts for a 0.3% decline. June's figure was revised up from a 0.1% decrease.

Japan's Cabinet Office released its consumer confidence index for Japan. The index fell to 41.2 in August from 41.5 in July, missing expectations for a rise to 42.3.

Preliminary machine tool orders in Japan rose 35.6% in august, after a 37.7% gain July.

The Bank of Japan (BoJ) released its minutes from the August meeting. The BoJ said the Japan's economy has continued its moderate recovery as a trend. Japan's central bank added that "it was important to accurately gauge the underlying trend in prices".

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