On the Forex market, the Euro Dollar pair finished balanced Tuesday night despite good American economic indicators. Traders showed themselves to be cautious about the resurgence of geopolitical concerns with possible new sanctions against Russia, and pending the upcoming meeting of the European Central Bank (ECB), scheduled for Thursday.
The ISM manufacturing index released Tuesday by the Institute for Supply Management came out up to 59.0 in August against 57.1 the previous month. The index is at its highest level since April 2011 Accelerating the growth of the American manufacturing sector is good news since economists expected a stabilization of activity for this period.
Wednesday morning, the euro rebounded towards $ 1.3150 (high of $ 1.3156) with good news on the geopolitical front. A statement issued by the Ukrainian presidency, Vladimir Putin and Poroshenko agreed on a cease-fire permanent in eastern Ukraine. Information confirmed by the Kremlin.
An event that overshadowed publications generally disappointing indicators in the euro zone (greater than expected retail sales in the euro zone and PMI services in Spain and Italy declines).
Around 12:00, the euro was trading around 1.3135 against $.
In terms of macroeconomic publications Wednesday, traders should be aware of the interest rate decision from the Bank of Canada (BoC) and Industrial orders in the United States at 16:00 and the Fed Beige Book at 20:00.