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The euro has grown against a background of data on indexes of business activity of Eurozone

May 23, 2014, Friday, 12:34 GMT | 07:34 EST | 16:04 IST | 18:34 SGT
Contributed by Forex-Metal

Asian and European trading sessions:

Euro: The euro has moderately grown against dollar on a background of data on indexes of business activity of Eurozone. As it was informed on Thursday by Markit Economics in Eurozone activity in a private sector has shown the best calendar quarter within three years. The preliminary index of managers on purchases for manufacture and sectors of services was 53,9 in May, having appeared according to expectations, but hardly lesser in comparison with 54 in April.

Nevertheless, last reading was the second on force which saw within last three years, and averages for the second quarter the highest value, since the second quarter 2011.

Preliminary industrial ?MI has decreased up to 52,5 with 53,4 in April and has remained below an expected level 53,2. Preliminary PMI for sector of services, in the meantime, has grown more expected - up to 53,5 with 53,1 in April. Value, according to forecasts, should make 53.

In turn, a private sector of Germany has extended strong rates in May (also as well as the last month), that has shown on Thursday preliminary results of interrogation Markit Economics.

The summary index of release has remained constant at a level 56,1 in May. The result was noticeably above a mark 50,0 separating growth from reduction.

The index of managers on purchases for sector of services has reached 35-month's maxima 56,4 in May with 54,7 in April. Economists predicted growth of an index up to 54,8.

Meanwhile, industrial PMI has fallen more, than it was expected: up to 52,9 in May with 54,1 the last month. The prospective account was 54.

Growth of manufacture has been substantially connected with increase in a portfolio of orders. The companies of sector of services have informed on strong growth of activity while manufacturers signalled about weak growth. The EUR/USD pair has decreased up to $1.3654 and then has grown up to $1.3687 during the European session.

British Pound: During the European session the British pound has grown pending data under gross national product and has decreased after an output of statistics. The British economy has grown in the first quarter in faster rate, as well as was originally estimated, the second estimation from Management of national statistics has shown on Thursday. The total internal product has grown for 0,8 percent in relation to the last quarter and has not changed in comparison with an estimation published on April, 29th. Consecutive growth follows 0,7 percent gain in the fourth quarter of the last year.

In annual calculation of gross national product has grown for 3,1 percent, also according to an initial estimation. In total volume of manufacture has grown for 0,7 percent which have been reconsidered aside downturn about 0,8 percent. Growth in sphere of services has been confirmed at a level of 0,9 percent while the increase in volumes of construction has been reconsidered up to 0,6 percent about 0,3 percent.

Other report has shown: total accumulation of a fixed capital has grown in the first quarter for 0,6 percent in comparison with the fourth quarter up to 56,2 billion pounds sterling. Business investments have extended for 2,7 percent up to 32,8 billion pounds sterling. The GBP/USD pair has grown up to $1.69174 and then has decreased up to $1.68615.

American trading session:

Japanese Yen: The Japanese yen decreased having come nearer thus to the minimal values which has been connected with an output of the Chinese data on PMI. As it became known, a May index of managers on purchases (PMI) in China, calculated by HSBC and Markit Economics, has reached record value of 2013. According to preliminary data, the indicator in current month has grown up to 49,7 items. Thus it has remained below 50 items that specifies decrease in activity of a business society in industrial sector of the country. The last month the considered parameter has been fixed on a mark 48,1 items. Experts expected, that value of the indicator in May will make 48,4 items.

Gold: The prices for gold have grown today as yesterday's reports of meeting FOMC have shown: the Federal reserve system of the USA is measured to continue support of the American economy. The cost of the June future has grown up to a level $1298.50 on COMEX today.

Oil: The cost of oil has increased today, having reached thus of a maximum for last 2,5 months that has been connected with an output of the best, rather than it was expected, data across China and the limited export of oil from Libya. Cost of July futures for oil mark WTI has grown up to $103,10 for barrel on the New York Commodity exchange.