 |
| Forex today |
Last week, the U.S. dollar tried to stage a recovery but the outcome was mixed. North America added 200,000 jobs in January. More importantly, the wages rose by 2.9 percent on a year-on-year basis. Experts feel that the pay acceleration is more sustainable. The dollar made an attempt to gain some ground following the release of the data. In Janet Yellen’s last Fed rate decision, the changes made to the rate statement were very subtle and there was no hike. The changes were a little hawkish but the reaction of the dollar was very limited. In the euro-zone, core inflation increased to 1.0 percent as expected. However, the U.K. PMIs missed analysts’ expectations. Australian inflation came in slightly lower than expected while Canada’s GDP showed a healthy increase of 0.4 percent.
In the upcoming week, the focus will not be on the U.S. data as three rate decisions and two jobs reports from other countries are scheduled to be released. Here is an outlook of some of the key releases for the week:
#1: U.K. Services PMI (02/05/2018 Monday 09:30 GMT)
In the U.K., the IHS Markit/CIPS Services PMI increased to the 54.2 level (the second-highest since April) in December last year from 53.8 in the prior month. Analysts had expected the reading to come in at the 54.1 level. Resilient economic situation and increased consumer spending improved the business activity even though uncertainty related to Brexit continued to impact the willingness of clients to spend. While new orders growth declined to a sixteen-month low, job creation remained at the lowest in as many as nine months. Input cost inflation touched a three-month high. Forecast for January 2018: 54.1
#2: U.S. ISM Non-Manufacturing PMI (02/05/2018 Monday 15:00 GMT)
In the U.S., the ISM Non-Manufacturing PMI dropped to the 55.9 level in December last year from 57.4 in the previous month. Analysts had expected the index to hit the 57.6 level. The reading revealed the non-manufacturing sector’s smallest expansion in four months as production, inventories, and new orders eased, while price pressures intensified. But, businesses expressed optimism as regards the economic outlook and business conditions going forward. Forecast for January 2018: 56.5
#3: European Central Bank President Mario Draghi Speaks (02/05/2018 Monday 16:00 GMT)
Mario Draghi, the President of the European Central Bank, is scheduled to testify before the European Parliament in Strasbourg on the central bank’s Annual Report for 2016. Market volatility can be expected during his speeches as traders often look for interest rate clues.
#4: Australia Retail Sales (02/06/2018 Tuesday 00:30 GMT)
Australia’s retail trade rose 1.2 percent on a month-on-month basis in November last year after it increased 0.5 percent in the prior month. Analysts had expected an increase of 0.4 percent in retail sales. Increase in the sale of household goods, clothing, footwear, and personal accessories drove the retail sales up. Forecast for December 2017: – 0.2 percent
#5: Australia Trade Balance (02/06/2018 Tuesday 00:30 GMT)
Australia’ trade deficit increased to A$0.63 billion in November last year after reading for the previous month was revised downward to A$0.30 billion. The reading for the month missed analysts’ expectation for a surplus of A$0.55 billion. While imports rose 1.0 percent to A$32.48 billion, a record high, exports remained steady at A$31.85 billion. For the period January to November, there was a trade surplus of A$12.17 billion compared to the deficit of A$18.96 billion during the same period in the previous year. Forecast for December 2017: Trade surplus of A$025 billion
#6: Reserve Bank of Australia Rate Statement (02/06/2018 Tuesday 03:30 GMT)
A rate statement is a tool that the Reserve Bank of Australia’s rate-setting Board uses for communicating with investors as regards monetary policy. It consists of the details of the decisions related to interest rates and a commentary on the economic conditions that impacted the board members’ decision. More importantly, the statement discusses the country’s economic outlook and provides clues on future decisions.
#7: Australia Cash Rate (02/06/2018 Tuesday 03:30 GMT)
In the meeting in December last year, the Reserve Bank of Australia decided to hold the cash rate steady at the record low level of 1.5 percent as analysts widely expected. Policymakers said that Australia’s economy expanded at the trend rate for the year to the third quarter and that it is expected to be at the average rate of around 3 percent for the next couple of years. Policymakers also noted that they were concerned about the outlook for household consumption. Forecast for the February cash rate decision: 1.5 percent
#8: Canada Trade Balance (02/06/2018 Tuesday 13:30 GMT)
Canada’s trade deficit rose to C$2.5 billion in November last year from C$1.6 billion in the prior month. The reading for the month of November came in above analysts’ expectation of C$1.2 billion deficit. While imports rose by 5.8 percent on a month-over-month basis, exports increased 3.7 percent. The increase in both imports and experts was largely due to higher level of activity in the automotive sector. Forecast for December 2017: Deficit of C$2.3 billion
#9: New Zealand Employment Change (02/06/2018 Tuesday 21:45 GMT)
In New Zealand, employment rose by 2.20 percent on a quarter-over-quarter basis in the third quarter of last year against analysts’ expectation of 0.8 percent growth. In the previous quarter, employment declined 0.2 percent. Forecast for the fourth quarter of 2017: 0.4 percent increase
#10: New Zealand Unemployment Rate (02/06/2018 Tuesday 21:45 GMT)
New Zealand’s unemployment rate declined to 4.6 percent during the September quarter of last year from 4.8 percent in the prior period. Analysts had expected the jobless rate to come in at 4.7 percent. With this, the unemployment rate has declined for three quarters in a row. Further, this is the lowest unemployment rate ever since the fourth quarter of 2008. The number of unemployed people in New Zealand dropped by 1.2 percent on a quarter-on-quarter basis, while employment increased by 2.2 percent. The participation rate of the labor force rose to 71.1 percent in the quarter after falling to 70.0 percent, a one-year low in the prior quarter. Forecast for the fourth quarter: 4.7 percent
#11: U.S. Crude Oil Inventories (02/07/2018 Wednesday 13:30 GMT)
In the U.S., crude oil stocks rose by 6.776 million barrels during the week that ended on January 26 after recording a decline of 1.071 million barrels in the prior period. Analysts had expected crude oil inventories to increase by 0.126 million barrels. Crude oil stocks rose for the first time in two-and-a-half months. Gasoline stocks, on the other hand, declined 1.980 million barrels, following the 3.098 million barrels increase in the prior week. Analysts had expected gasoline stocks to decline by 1.809 million barrels.
#12: Reserve Bank of New Zealand Monetary Policy Statement (02/07/2018 Wednesday 20:00 GMT)
In the monetary policy statement, the Reserve Bank of New Zealand provides details as to how the central bank will achieve the inflation targets and formulate and implement the monetary policy for the next 5 years. It also provides information on how the monetary policy was implemented since the release of the last statement. In addition, the monetary policy statement provides bank’s view of inflation and economic condition. This has an impact on interest rate decisions.
#13: Reserve Bank of New Zealand Rate Statement (02/07/2018 Wednesday 20:00 GMT)
The Reserve Bank of New Zealand uses the rate statement primarily as a tool to communicate with investors as regards the monetary policy. It consists of the outcome of the interest rate decision and commentary a commentary on the economic conditions that led to their decision. More importantly, it provides an economic outlook and clues on future decisions.
#14: New Zealand Official Cash Rate (02/07/2018 Wednesday 20:00 GMT)
The Reserve Bank of New Zealand decided to leave the official cash rate steady at the record low level of 1.75 percent during the meeting in November 2017, as was widely expected by the market. The interest was last changed in November 2016. Policymakers noted that though the global economic growth has improved, inflation and wages remained subdued. Further, the currency’s exchange rate has declined since August last year but the GDP for the June quarter expanded in as analysts’ expected. According to the policymakers, the monetary policy is likely to remain accommodative for a longer period because of uncertainties.
#15: Reserve Bank of Australia Governor Philip Lowe Speaks (02/08/2018 Thursday 09:00 GMT)
Philip Lowe, the Governor of the Reserve Bank of Australia, is scheduled to speak in Sydney at the A50 Australian Economic Forum dinner. As the audience is expected to ask questions, market volatility can be expected.
#16: U.K. Bank of England Inflation Report (02/08/2018 Thursday 12:00 GMT)
Released on a quarterly basis, the report provides the central bank’s inflation and economic growth projection for the next two years. After the release of the report, the Governor of the Bank of England would hold a press conference for discussing its contents. Traders care because it provides insight into the central bank’s view of inflation and economic conditions which will shape the interest rate decisions in the future.
#17: U.K. Monetary Policy Committee Official Bank Rate Votes (02/08/2018 Thursday 12:00 GMT)
Released on a monthly basis, the monetary policy committee’s vote provides information as to how many members voted for increasing, decreasing, or holding the rates. In the last meeting, 0-0-9 voted in favor of holding the rates. Voting pattern is expected to be the same in the upcoming meeting as well.
#18: U.K. Monetary Policy Summary (02/08/2018 Thursday 12:00 GMT)
The monetary policy committee releases the policy summary on a monthly basis. It is a tool for communicating with investors as regards the monetary policy. It consists of the outcome of their votes and information on other policy measures. It also includes a commentary on the current economic conditions that impacted their votes. More importantly, it provides outlook and clues on future decisions.
#19: U.K. Official Bank Rate (02/08/2018 Thursday 12:00 GMT)
The members of the monetary policy committee of the Bank of England voted unanimously for keeping the Bank Rate at the 0.5 percent level during the meeting in December. This was widely expected by the market. The interest rate was hiked by 25 basis points in the prior meeting. Policymakers noted that modest interest rate increases are likely over the coming years. The Committee also decided to maintain the bond purchases at £435 billion. Forecast for the February meeting: 0.5 percent
#20: Reserve Bank of Australia Monetary Policy Statement (02/09/2018 Friday 00:30 GMT)
Released on a quarterly basis, the statement provides insight into the central bank’s view of inflation and economic conditions. These factors impact the future monetary policy and interest rate decisions.
#21: U.K. Manufacturing Production (02/09/2018 Friday 09:30 GMT)
U.K.’s manufacturing production rose 0.4 percent in November last year, the seventh month of gains, from the 0.3 percent increase reported in the previous month. Analysts had expected an increase of 0.3 percent. On a yearly basis, manufacturing production increased 3.5 percent after the reading for the prior period was revised upward to an increase of 4.7 percent. Analysts had expected the manufacturing production to increase by 2.8 percent. Forecast for December: 0.3 percent increase
#22: Canada Employment Change and Unemployment Rate (02/09/2018 Friday 13:30 GMT)
Canada added as many as 79,000 jobs in December last year, well above analysts’ expectation of 1,000 job additions. As many as 54,900 part-time jobs and 23,700 full-time jobs were added. Employment increased among self-employed people, public sector employees. The number of employees in the private sector held steady.
Meanwhile, Canada’s unemployment rate dropped to 5.7 percent from 5.9 percent in the previous month. The reading came in well below analysts’ expectation of 6.0 percent. This is by far the lowest unemployment rate since January 1976.
forex google finance
forex google calendar
forex google play
forex google scholar
google forex api
google forex trading
google forex news
google prediction api forex
google forex signals
forex keywords google adsense
google books forex
forex bank google play
iforex google play
google iforex
forex converter google
google forex charts
forex factory google calendar
forex currency converter google
google chrome forex
ok google forex club
forex club libertex google play
google forex data
google forex data feed
google forex historical data
google doc forex
google forex exchange
forex economic calendar google
google finance forex rates
google forex factory
google finance forex api
google forex forecast
google glass forex
google gadget forex
gcm forex google play
google live forex
google live forex quotes
google finance forex news
ok google forex
ok google forex trend
forex signals google play
google plus forex
forex quotes google finance
google forex rates
google trends forex
google trader forex
forex calendar to google
traducción google forex
v for google chrome
vanguard v for google cardboard
v for vendetta google drive
v for vendetta google play
google sketchup vray
— Algobit Forex (@AlgobitForex) 4 febbraio 2018
No comments:
Post a Comment
Inappropriate comments will be removed from the Algobit Forex Admin website