Daily Market Report 13/08/15

GBP
Data released yesterday showed that the number of people claiming unemployment
benefits in the U.K. had declined unexpectedly throughout July, while the
country’s jobless rate held steady near a six-year low.  The claimant
count fell by a seasonally adjusted 4,900 last month, compared to expectations
for a gain of 1,500 people. The report also showed that the rate of
unemployment held steady at 5.6% in the three months to June which stood in
line with forecasts.

GBP
Data released yesterday showed that the number of people claiming unemployment
benefits in the U.K. had declined unexpectedly throughout July, while the
country’s jobless rate held steady near a six-year low.  The claimant
count fell by a seasonally adjusted 4,900 last month, compared to expectations
for a gain of 1,500 people. The report also showed that the rate of
unemployment held steady at 5.6% in the three months to June which stood in
line with forecasts.

The labor market is being closely monitored by the Bank Of England as it
contemplates when to start raising interest rates for the first time since the
global financial crisis in 2008.

USD
Throughout June we saw the number of job openings in the U.S fall more than
expected.Job openings, excluding the farming industry, decreased to 5.249
million in June from 5.357 million in May. The figure was previously reported
at 5.363 million.The figure  was predicted to fall to 5.300 million in
June.

The U.S Monthly Budget Statement was released yesterday. It registered at
$-149.2B, below expectations ($-132B) in July. Mortgage applications came in a
lot lower than what they were previously, currently standing at 0.1% with the
previous figure being 4.7%.

EUR
Greece’s bailout deal will next be reviewed in October. Greece’s eurozone
creditors insisted they will not be discussing bailout relief before this
month, with no promises on how soon any easing of Greece’s debt burden might
come.

It is reported that Germany has serious doubts about the bailout deal and
that the German government has little faith in what has been agreed in Athens.
We also saw the Euro reach a two week high against the dollar yesterday
due to China devaluing the Yuan.

Key Announcements:

EUR: 12:30 – ECB Monetary Policy Meeting
USD: 13:30 – Retail Sales (MoM) (July) Expected to rise to 0.5% from -0.3%
USD: 13:30 – Retail Sales ex Autos (MoM) (July) Expected to rise to 0.5% from
-0.1%