The Bank of England MPC vote was mixed: 1-0-8

Yesterday, Australia published the employment figure for July. ABS announced strong results, with the seasonally adjusted new jobs creation over 38.5K. Full-time jobs went up with 12.4K and part-time jobs with 26.1K. The Australian inflation jumped up to 6.3% (with an increase of 0.3% since last month’s 6%), stepping over the expected 6.1% threshold. AUD/USD rose to 0.7350 again when U.S. session begun. Daily range was between 1.7340 and 17310 due to the not so good jobs numbers.

In Germany, The Federal Statistics Office (Destatis) reported yesterday a 2% rise in the prices of new factory orders for June (2nd biggest monthly increase of 2015), exceeding the estimated 0.2% increase and the revised 0.3% fall of May. The official report stated that the domestic orders had a negative growth of 2.0%, whilst the foreign orders rose with 4.8% from May. In the foreign transactions area there are 2 sides: one with new orders from the Euro area, which has expanded with 2.3% and one representing new orders from outside-Euro countries which also increased with 6.3%.

BoE’s (Bank of England) monetary policy minutes from yesterday reflected a division in the monetary policy committee on whether to rise the interest rate form the historical 0.5% or not. According to the press-release, only 1 member (Ian McCafferty) voted positive for a rate increase. Analysts expected a 7-2 division like last year in December, when McCafferty and Weale inclined for a 25 basis points increase in the monetary policy rate.

The USD/JPY trend hiked yesterday, approaching the 125 threshold as a result of the release of US initial job claims figures. The latter registered an increase a second week in a row, reaching 270K from June’s 267K, reading under the expected 273K. Versus the Yen, the USD ticked a few pips upwards to a daily top of 124.95 USD/JPY. There was even a pull-back, the trend taking a turn with the pair currently trading at around 124.87. All in all, the changes were little as of today.

Yesterday the price of crude oil was traded lower, near the $44.50 per barrel level and the reason for this fall could be the anticipation of Payrolls from today. Another reason for the selling pressure might be the worries about global supply glut and the strength of USD. Next level to watch is $44.00 (2015 low from March) followed by monthly low of 2009 ($43.83).