The following data were issued
06:00GermanyRetail sales (June) real adjusted -1.4% -0.4% 0.5 (1.3)%
06:00GermanyRetail sales (June) real unadjusted Y/Y -3.9% - 1.0 (0.7)%
07:45ItalyPMI (July) 45.3 46.1 46.9
07:50FrancePMI (July) 47.1 47.3 49.2
07:55GermanyPMI (July) seasonally adjusted 50.9 50.9 52.6
08:00EU(15)PMI (July) 47.4 47.5 49.2
08:30UKCIPS manufacturing index (July) 44.3 45.6 45.8
The yen rose to a
two-week high against the euro as faltering global growth and falling stocks prompted traders to pare
holdings of higher-yielding assets funded in Japan.
The euro remained on the
back foot against the
dollar following a weak survey on euro zone manufacturing activity, but further
losses were capped as markets fixated on the upcoming release of the closely
watched U.S.
payrolls data.
The purchasing managers' index for the euro zone manufacturing sector fell
to its worst level in more than five years in July.
Elsewhere, the pound came under
sharp pressure against the dollar in the run-up to the release of a key
survey on UK manufacturing
activity, before recovering slightly as markets' attention here also turned to U.S. payrolls.
The purchasing managers' index on the manufacturing sector showed a
worse-than-expected fall to 44.3
in July from June's 45.9, with the reading at its
weakest since December 1998.
EUR/USD opened in early Europe
around $1.5563. Rate held within the narrow $1.5550/80 range. Small offers
$1.5580, stronger $1.5600, $1.5630. Bids $1.5550, stops below, stronger bids
$1.5520/10, $1.5480.
GBP/USD opened early Europe
at $1.9834. Cable dropped below $1.9800 after weak UK PMI data.
Disappointingrelease knocked rate down
before some rebound to $1.9770.
USD/JPY opened in early Europe
around Y107.61. Rate printed low on Y107.30 before recovering up to Y107.70. Dlr-yen
offers Y107.90/00, stronger Y108.30/60, stops above.
Attention turns to Payrolls numbers release at 12:30 GMT.The U.S. employment figures are expected to show a loss of 72,000 jobs in July, following a loss of 62,000 in June.