Euro Mixed Ahead Of Eurozone GDP Data

04 Août, 2017, 20:53 | Author: Marc Bacque
  • BNY Mellon's Derrick Says Euro Has Room to Appreciate

GBP EUR began the week trading at around 1.1174 and has trended in a narrow range between 1.1145 and 1.1206 since then.

While Sterling benefitted briefly from the strong United Kingdom manufacturing PMI earlier in the week, it was unable to sustain any gains and still trends near the week's opening levels.

But they slightly lowered inflation forecasts - nothing huge. Meanwhile, construction companies are now still being squeezed by elevated input costs.

The construction report held Sterling back yesterday as investors awaited Thursday's key session.

The services index, forecast to inch up to 53.6 from 53.4, clocked in at 53.8 - a relief given that the sector was entirely responsible for GDP growth during the second-quarter.

The Euro outlook is unlikely to change notably until next week, when June trade balances will come in from France and Germany, and Germany's final July inflation report will be published.

Wednesday's Eurozone data was largely low-influence.

While the Euro could see some further support if Friday's German factory and construction data impresses, the GBP EUR forecast is more likely to be influenced by United Kingdom news towards the end of the week.

Leaks of Trump's calls should have 'chilling effect'
Attorney general Jeff Sessions and his deputy, Rod Rosenstein , are holding a news conference at the Justice Department. He said governors, senators, and indeed presidents of the United States need to have confidence.


Q3 2017 Earnings Estimate for Encana Corp Issued By Cormark (TSE:ECA)
Encana Corporation on 6/29/2017 reported its EPS as $0.04 with the analysts projecting the EPS of the stock as $-0.04. Analysts are also projecting an Average Revenue Estimate for Encana Corporation as $906120 in the Current Quarter.


La théorie de l'iPhone 8 XXL se confirme
Mais un taux de rendement de 100% est impossible, il y a toujours des déchets - notamment sur des technologies récentes. Le fabricant a toujours utilisé des écrans LCD, et ce depuis le premier modèle sorti en 2007.


The Euro has also benefitted this week from broad weakness in its major rival, the US Dollar (USD).

The pound slid from an 11-month high versus the dollar and United Kingdom government bonds rallied after the Bank of England voted to keep interest rates unchanged, while also cutting the country's economic growth forecast. Quarterly growth edged up from 0.5 percent at the start of the year, while year on year growth leapt to 2.1 percent from 1.9 percent, according to official figures from Eurostat.

However, Sterling's PMI-related gains have been limited as investors are waiting for the Bank of England (BoE) to hold its August policy decision before making any big moves on the Pound. We have the United Kingdom inflation hearings and also the BOE rate announcement and statement as well.

Ian McCafferty has already indicated he is likely to push for higher interest rates, while Michael Saunders voted at the last meeting in favour of monetary tightening, so may do so again.

Analysts predict two BoE policymakers will vote to hike rates this week.

It also fell around a cent against the dollar, plumbing a three-day low of $1.3140, having earlier reached an 11-month high of $1.3267 against the USA currency.

If there are more hawks than expected though, Sterling will surge and should easily recover against the Euro.

Markit's final July PMIs for the Eurozone have fallen short of expectations, indicating the Eurozone's private activity wasn't as strong in July as forecast.

Conseillé:



Populaire

Grubhub to Buy Yelp's Eat24 for $287.5 Million
Following the transaction, the director now directly owns 9,590 shares in the company, valued at approximately $341,979.40. Roth Capital set a $21.00 price objective on Yelp and gave the stock a "sell" rating in a research report on Monday.

Wasserman Schultz Defends Keeping Staffer on Payroll While Under Federal Investigation
DeSantis also said he anticipates receiving a full briefing from Capitol Hill police on the matter in the near future. Authorities had been watching him for months as part of an investigation into information and equipment theft.

Analysts' Views: Gopro Inc Cl A Cmn (GPRO)
Gopro Inc Cl A Cmn (NASDAQ:GPRO) shares traded 2.86% up during most recent session to reach at the closing price of $8.26. Zacks Investment Research lowered GoPro from a "buy" rating to a "hold" rating in a research note on Tuesday, May 16th.

Korea slams new United States travel ban for Pyongyang
The State Department has prohibited American passport holders from traveling to the secretive state after September 1. Journalists and humanitarian workers may apply for exceptions to the ban , the department said in a public notice.

Surveillance accrue de la consommation d'alcool sur les plans d'eau du Québec
Au Québec, il n'est pas interdit de consommer de l'alcool à bord d'une embarcation, même s'il s'agit d'un bateau à moteur. Toutefois, les conducteurs qui boivent de l'alcool augmentent considérablement les risques de collisions.

Hewlett Packard Enterprise Company
The technology company reported $0.35 earnings per share (EPS ) for the quarter, meeting analysts' consensus estimates of $0.35. Paragon Capital Management Ltd increased its stake in shares of Hewlett Packard Enterprise by 51.0% in the second quarter.

South Africa Rugby receive government backing for 2023 World Cup bid
The decision by Mbalula in April previous year did little to deter SA Rugby from continuing with the bidding process. Bernard Laporte, President of the French Rugby Federation, also drew a parallel between the Olympics and World Cup.

Raises Stake in Dunkin' Brands Group, Inc. (NASDAQ:DNKN)
Finally, State of Alaska Department of Revenue increased its stake in shares of Dunkin' Brands Group by 5.2% in the first quarter. OppenheimerFunds Inc. purchased a new stake in shares of Dunkin' Brands Group during the first quarter valued at about $204,000.

Chinese professor and his wife to be expelled from Singapore
Following the seizure, China lodged a diplomatic protest to Singapore over its military cooperation with Taiwan. He has also appeared on Channel NewsAsia, a leading local television channel.

2 teen campers, pilot killed in plane crash in Switzerland
Police said the single engine plane crashed into a mountainside during a summer camp flight for young aviation enthusiasts. Two 14-year-old boys and a pilot died on Friday after their small plane crashed in the Swiss Alps, local media reported.