European session: the pound fell sharply against the U.S. dollar

Data

00:00 China Bank holiday

01:30 Japan Labor Cash Earnings, YoY December +0.6% Revised From +0.5% +0.7% +0.8%

08:48 France Services PMI (Finally) January 48.6 48.6 48.9

08:53 Germany Services PMI (Finally) January 53.6 53.6 53.1

08:58 Eurozone Services PMI (Finally) January 51.9 51.9 51.6

09:30 United Kingdom Purchasing Manager Index Services January 58.8 59.1 58.3

10:00 Eurozone Retail Sales (MoM) December +1.4% -0.7% -1.6%

10:00 Eurozone Retail Sales (YoY) December +1.6% -1.0%

Euro traded in a narrow range against the U.S. dollar , as many participants gradually shifts its attention to tomorrow's ECB meeting . Little impact on the European currency had data for the euro area , which showed that the euro zone's private sector quickened in January , while reaching the highest levels in the last two and a half growth, rapid growth of production eclipsed the more modest expansion in the services sector .

According to the report , the final composite purchasing managers index from Markit, which measures business activity in the manufacturing sector and in the service sector , rose to 52.9 in January from 52.1 in the previous month . It was the highest result since June 2011 . Nevertheless , the final assessment was slightly pre - 53.2 at .

In Markit said that growth in the eurozone PMI observed broad-based and led by Germany was lifting . The data also showed that the index of business activity in the services sector rose to a four-month high in January - to the level of 51.6 from 51.9 . However , this result was below the pre-assessment at the level of 51.9 .

The British pound has fallen sharply against the U.S. dollar , which was associated with the release of unexpectedly weak data on Britain. As it became known , the growth in the services sector in Britain, which is dominant , unexpectedly slowed last month, but activity remained high , suggesting that the economy will gain momentum in the first quarter of 2014 . The survey also showed growth companies price pressure for the service sector , but not to a level that could be a problem for the Bank of England , and encourage him to raise interest rates. According to the report , the index of services PMI fell to 58.3 in January from 58.8 points points in December , reaching its lowest level since June . Add that according to the average forecasts of experts, the value of this index would grow to 59.1 points. However , despite the decline , the index remained well above 50 points , which separates growth from contraction.

Meanwhile, it became known that the composite indicator of the three indices PMI ( manufacturing , construction and services sector ) fell to 59.1 in January from 59.4 in December, dropping to its lowest level since June .

EUR / USD: during the European session, the pair traded in the range of $ 1.3497 -$ 1.3527

GBP / USD: during the European session, the pair fell to $ 1.6260

USD / JPY: during the European session, the pair fell to Y101.05

At 13:15 GMT the United States will present data on changes in ADP Employment for January. At 13:30 GMT , Canada announces the change of volume of building permits issued in December. At 15:00 GMT the United States will composite index of ISM non-manufacturing areas and the employment index of the ISM non-manufacturing sector in January .