Morning Market Updates – Downside Risks for Euro

Foreign Exchange Reserves in South Korea increased to 380.57B from a previous value of 378.46B. However, South Korean Current Account Balance dropped down to 4.52B from a previous value of 6.8B.

United Kingdom BRC Shop Price Index (YoY) rose up from a previous value of -0.4% to -0.3%.

Australia’s AiG Performance of Services Index climbed to 54.8 from a previous value of 51.5.

Japanese Markit Services PMI went up to 53.3 from a previous value of 53.

New Zealand’s ANZ Commodity Price came in at 2.1% versus a previous value of 3.2%. The People’s Bank of China (PBOC) set the Yuan reference rate at 6.7922 and stated that the bank will maintain a stable liquidity with a reasonable credit growth rate.

Moving on for the day, we have ECB’s non-monetary policy meeting and late in the day, we have the Markit Services Composite PMI which is forecasted to hold the same values as the previous releases. However, the Retail Sales may see a slight dip for Euro.

Greenback’s Markit Services PMI and Markit PMI Composite with IBD/TIPP Economic Optimism showed better results when compared to the previous releases which was seen at 51.3 and are now forecasted to be at 51.6, while Factory Orders was registered at a negative 0.5% against a previous negative of 0.2%. The most important event for the greenback today comes from the Minutes of the Federal Open Market Committee.
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