The economic news in the currency market July 1, 2013

 

Eurozone 2In the beginning of the month, the major new economic publications are moving on clues "Purchasing Managers Index" (PMI) in the manufacturing sector, they allow us to make an assessment of the health of industrial activity.
For the euro area, the results are quite positive but rather different in different countries. Germany, Europe's largest economy had a negative with a new index to 48.6 against 49.4 in June. Following the decline in orders, forecasts of output growth remain very pessimistic.
The French index remains in contraction phase with 48.4, however, this result hides some positive elements with new orders and a weakening outlook declines in production.
Side of Spain, the index is positive with an official announcement to 50 with a rather stable activity and therefore positive outlook for orders and employment.
In Italy, we still have a contraction in manufacturing activity with an index to 49.1. However, this is positive news after a contraction to 45.5 in April.
With these indicators and improving economic data, the euro rose against the dollar around $ 1.30.
The Chinese index is positive with 50.1, but remains down which raises the concern of economists expect a slowdown in economic activity. This index has a strong impact on / USD continued to trade links that connect AUD, the results have therefore put pressure on the pair which has caused lower Australian dollar.
Regarding Japan, the release of the Tankan index is positive and is at its highest level in two years. The weakening of the yen helped export support thanks to attractive prices thus improving the confidence of manufacturers. This publication has allowed the currency to strengthen.
In the euro area, we also had publications on the unemployment rate and the CPI. The unemployment rate is still increasing with 12.1%, the rate has increased in many countries in the region including Greece. Regarding the CPI is consistent with the forecast, these statements have therefore had little impact on currencies.