September is going to bring turbulence to currency markets

Following the results of the yesterday's trading session the European stock markets showed positive dynamics. The French CAC index which has grown by 1,84%%, became the leader of growth. The stock market in the USA was closed in connection with Labor Day celebration.

This morning support to the world markets was given by positive data from China. The index of business activity in production sector of China, counted by national bureau of statistics of the country, grew in August to 51 points comparable to 50,3 points month before. The similar index counted by HSBC bank, grew in August to 50,1 points in comparison with 47,7 points month before.

Statistics coming from other countries had in general mixed character. The index of business activity in production sector of Germany grew in August to 51,8 points in comparison with 50,7 points month before. Analysts expected index growth to 52 points. In France the similar index didn't change in comparison with the last month and made 49,7 points that coincided with expectations of analysts. As a whole, in the Eurozone the index grew to 51,4 points in comparison to 50,3 points in July, however growth to 51,3 points was expected.

This data was giving support to euro during trading session. As a result, EUR/USD pair opened day on a level of 1,3211, grew to 1,3226, and then was rolled away to a day minimum of 1,3183, having finished the trading session nearby.

It is necessary to admit that September will be very important month for the currency markets: all investors returned from summer holiday, trade volumes returned to normal, and the economic calendar is full of very important events. Among them elections in Australia, appointed to September 7; increase of a consumer tax in Japan; the solution of a question on a ceiling of a national debt of the USA; elections in Germany (on September 22) and, naturally, FOMC meeting on the monetary policy, planned for September 18-19. It will have the greatest value for currencies, and current week will help investors to be defined, whether to wait from the regulator turning of the program of stimulation.

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