And yet here is another week that has passed us over and we are still standing strong in the forex and stock trading markets. Next is what came up and what to think over during the weekend. We got some news from UK, EU, USA and some odd movements from Japan currency.
Production level in UK is slowing its speed of growth
Fabric production in UK for the past month has slowed down its growth but still kept the positive trend of growing. This is a continuation of the memorable growth in UK’s production – the biggest for the past 22 years. the index PMI/CIPS had dropped to 54.4 down from 57 in June. The risk of the British export to keep falling is growing with the growing crisis in Ukraine. After this news the British pound have lost its positions vs the USA dollar in the past several days.
New jobs in USa for July not as expected
The level of new jobs in USA for July came as a number lower than what was expected from the trading and market experts. The final number of new jobs is 209 000 with expected number of 230 000 which is not that far away from the expectations but still caused a negative impact on the overall stas in US economy. The unemployment grew a bit with current standing of 6.2% growing from last month’s 6.1%. With above said the dollar is keeping its positions vs the euro at steady levels.
The growth in EU production with no change for the July
Maybe because it is summer but EU countries are reporting no growth in their productions for the past month. The index of the production managers on deliveries has stayed on level of 51.8, which lines it up as the 13th month straight of growth over the index of 50, showing the the EU zone is slowly gaining power and recovering. The above numbers look fine but overall all is thanks to Germany and its growth, while major Eu countries like Spain and Italy are still showing weak results which make us think that the recovery in EU will take longer than expected, especially after the new bans vs some major companies in Russia.
Yen marks biggest loss vs the dollar for the year
The Japan yen had suffered its biggest loss of position vs the USA dollar following the positive news for the American economy. The finished yesterday 2 day meeting of the USA central bank did not surprise the investors and went well as everyone planned ( or at least most of us). These news combined are attracting many investors in the pair USD/JPY which offers excellent chance to profit nicely.
That is all for this week markets, see you next week with more fresh news and advices to make our live of traders a bit easier. Have a nice weekend.