26, March 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The report on China manufacturing was published by PMI this week. The report came in the negative region below 50 p., indicating a slowdown in the China economic growth and serving as a negative factor for the growth of risky assets. The France and Germany manufacturing sector releases were published by PMI in the European trading session. And if the French report showed an increase compared to the February one, the data on the locomotive Eurozone disappointed the investors, the second consecutive month it has been showing a decline. The Germans become difficult to pull the economy growth in the euro area and on this background, we can expect further negative reports.

The GBP/USD "Bulls" and the "Bears" with an alternate success tried to take over the game on the background of an empty macroeconomic calendar from the UK and the U.S. There was short positions closing on the British currency after five days of decline and against this background the trading day ended with the increase in prices by 0.15 %.

The PMI Report on China's manufacturing sector has not had a strong influence on the course of the trading. The moderate growth in the stock markets has supported the "bulls", but in the absence of a strong driver it was hard to disperse the quotes up. Once prices rose up the "Bears" actively opened short positions.

The Australian dollar updated the high marks, despite the slowdown in the manufacturing sector of the PRC to 8 -month low. Preliminary PMI index for the manufacturing sector in China from HSBC continued to decline in March, is already the 5th consecutive month. The index fell down to 48.1 from 48.5 in February, against the growth expectations. China is a major trading partner of Australia.