M3 Money Supply decreased to 4.8% in August

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Friday, Sep 25 2015

The annual growth rate of the broad monetary aggregate M3 decreased to 4.8% in August 2015, from 5.3% in July, averaging 5.0% in the three months up to August. Analysts were forecasting increase to 5.4%. The annual growth rate of the narrower aggregate including currency in circulation and overnight deposits (M1) decreased to 11.4% in August, from 12.2% in July. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) stood at -4.5% in August, compared with -4.6% in July.

The annual growth rate of marketable instruments (M3-M2) decreased to 1.1% in August, from 2.7% in July. Within M3, the annual growth rate of deposits placed by households decreased to 2.9% in August, from 3.1% in July, while the annual growth rate of deposits placed by non-financial corporations decreased to 4.8% in August, from 5.5% in July. Finally, the annual growth rate of deposits placed by non-monetary financial corporations (excluding insurance corporations and pension funds) decreased to 14.1% in August, from 14.5% in July.

Euro is currently being traded few points above 1.1140 level. Pair is likely to find support around 1.11 handle and resistance above 1.12 handle. Later today, in the US session, Final GDP and Revised Consumer Sentiment data is scheduled for a release.

More in this category: « Aussie testing 0.70 handle U.S. GDP rose by 3.9% »

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