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Overview of the main economical events of the current day - 21/02/2014
China’s HSBC Flash Manufacturing PMI Dropped to 7-Month Low
On Thursday February, 20 the US dollar strengthened its positions Vs. most major currencies amid controversial statistic data in the USA. The euro decreased amid the Eurozone Manufacturing PMI decrease. The Australian dollar dropped after the release of Chinese Flash Manufacturing PMI decrease data.
The US dollar strengthened its positions by 0.1% to the dollar index amid controversial statistic data. Inflation and Unemployment Claims data in the USA crossed the line of the expectations. Philadelphia Fed Manufacturing Index sharply decreased in February to -6.3 p. (annual low) comparing with 9.4 p. in January, having dropped lower than zero point for the first time over 9 months. At the same time U.S. Markit Flash Manufacturing PMI rocketed in February almost to 4-year high at the level of 56.7 p. from 53.7 p. in January.
The euro dropped amid the Eurozone Manufacturing PMI decrease to 2-month low. All Flash Manufacturing PMI and Non-Manufacturing OMI in France, Germany, and Eurozone appeared to be worse than predicted, except for German Non-Manufacturing PMI. Final Eurozone Manufacturing PMI decreased in February to 2-month low of 52.7 p. from 52.9 p. in January against the expectations of growth. Producer Price Index in Germany, Consumer Price Index in France, and Euro-zone Flash Consumer Confidence appeared to be worse than it was expected as well.
On Thursday the pound sterling was traded downwards amid lower Factory Orders growth. CBI Industrial Order Expectations increased in February to +3 against -2 in January, whereas growth to +5 was expected. Bank of England’s Martin Weale announced on Thursday that interest rates are likely to be increased in spring 2015.
The Australian dollar sharply dropped after the release of Chinese Manufacturing PMI decrease to 7-month low, but then it gained back all the losses. HSBC Flash Manufacturing PMI suddenly dropped in February to 48.3 p., comparing with 49.56 p. in January, whereas decrease only to 49.4 p. was predicted. Weak readings might be caused by the Lunar New Year celebration. The index is being decreased for the second month in a row, and it is above 50 indicates industry expansion, below indicates contraction.
The yen increased after the release of weak Trade Balance data in Japan and Manufacturing PMI in China, but then it lost all the growth amid positive Stock Markets dynamics. Trade Balance deficit in Japan in January appeared to be record high – 2.79 trillion yen, which is twice more than the December level. The deficit growth was expected to reach only 2.79 trillion yen. Export increased only by 9.5% comparing with the reading of the previous year, whereas import increased by 25% y/y amid energy import increase.
By MasterForex Company
China’s HSBC Flash Manufacturing PMI Dropped to 7-Month Low
On Thursday February, 20 the US dollar strengthened its positions Vs. most major currencies amid controversial statistic data in the USA. The euro decreased amid the Eurozone Manufacturing PMI decrease. The Australian dollar dropped after the release of Chinese Flash Manufacturing PMI decrease data.
The US dollar strengthened its positions by 0.1% to the dollar index amid controversial statistic data. Inflation and Unemployment Claims data in the USA crossed the line of the expectations. Philadelphia Fed Manufacturing Index sharply decreased in February to -6.3 p. (annual low) comparing with 9.4 p. in January, having dropped lower than zero point for the first time over 9 months. At the same time U.S. Markit Flash Manufacturing PMI rocketed in February almost to 4-year high at the level of 56.7 p. from 53.7 p. in January.
The euro dropped amid the Eurozone Manufacturing PMI decrease to 2-month low. All Flash Manufacturing PMI and Non-Manufacturing OMI in France, Germany, and Eurozone appeared to be worse than predicted, except for German Non-Manufacturing PMI. Final Eurozone Manufacturing PMI decreased in February to 2-month low of 52.7 p. from 52.9 p. in January against the expectations of growth. Producer Price Index in Germany, Consumer Price Index in France, and Euro-zone Flash Consumer Confidence appeared to be worse than it was expected as well.
On Thursday the pound sterling was traded downwards amid lower Factory Orders growth. CBI Industrial Order Expectations increased in February to +3 against -2 in January, whereas growth to +5 was expected. Bank of England’s Martin Weale announced on Thursday that interest rates are likely to be increased in spring 2015.
The Australian dollar sharply dropped after the release of Chinese Manufacturing PMI decrease to 7-month low, but then it gained back all the losses. HSBC Flash Manufacturing PMI suddenly dropped in February to 48.3 p., comparing with 49.56 p. in January, whereas decrease only to 49.4 p. was predicted. Weak readings might be caused by the Lunar New Year celebration. The index is being decreased for the second month in a row, and it is above 50 indicates industry expansion, below indicates contraction.
The yen increased after the release of weak Trade Balance data in Japan and Manufacturing PMI in China, but then it lost all the growth amid positive Stock Markets dynamics. Trade Balance deficit in Japan in January appeared to be record high – 2.79 trillion yen, which is twice more than the December level. The deficit growth was expected to reach only 2.79 trillion yen. Export increased only by 9.5% comparing with the reading of the previous year, whereas import increased by 25% y/y amid energy import increase.
By MasterForex Company