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Fundamental Analysis
Daily Forex market overviews by MasterForex
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[QUOTE="MasterForex Broker, post: 62826, member: 16067"] [size=2][b]Overview of the main economical events of the current day - 12/05/2014[/b] [color="#4169E1"][b]Main Events of the Coming Week[/b][/color][/size] On Friday 9 May the US dollar increased vs. all major currencies, having added 0.56% to the dollar index amid large-scale growth of the American currency against the euro and European currencies. The euro and the pound sterling continued its reduction on Friday. The Canadian dollar dropped after the release of Employment Change in Canada. The euro continued its decrease on Friday, having dropped to monthly low vs. the US dollar – after on Friday ECB’s Mario Draghi signaled that ECB is ready to soften monetary policy during the next Meeting in June. German Trade Balance and Industrial Output in Italy also appeared to be worse than expected. German Trade Balance proficit decreased in March to 10-month low at the level of €14.8 m from €15.8 m in February against the expectations of growth. German Export reduced in March for the second month in a row. Industrial production in Italy dropped in March by 0.5% m/m against the expectations of growth by 0.3%. The pound sterling decreased after the release of the UK March Industrial Output, which dropped by 0.1% m/m, whereas no changes were expected. Manufacturing Output increased by 0.5% m/m, having exceeded the forecasts by 0.3% - for the 1st quarter of this year the manufacturing growth became the highest for over 15 years (+1.4% q/q). The pound sterling rallied after the release of NIESR GDP Estimate, according to which the growth of the British economy accelerated. The UK GDP growth for three month till April composed 1% (against +0.8 in the previous month), which is the highest growth since June 2010. [center] [IMG]http://masterforex.com/useruploads/images/apr_cad_empl.png[/IMG][/center] The Canadian dollar sharply dropped after release of the Canadian Employment Change. Employment rate dropped in April by 28,900 against the expectations of growth by 12,000 which became the worst result for over 4 months. Unemployment had no changes at the level of 6.9% as it was forecasted. The Australian dollar slightly decreased on Friday and had almost no reaction for the release of quarterly RBA monetary policy report in which the forecasts of inflation growth for this year were slightly decreased, whereas forecasts of GDP growth were increased. [center] [IMG]http://masterforex.com/useruploads/images/fx_changes_19.png[/IMG][/center] According to the results of the week the US dollar demonstrated mixed dynamics vs. major currencies, having added 0.46% to the dollar index (the highest growth for 7 weeks). The US dollar increased vs. The Swiss franc, the euro, the pound sterling, and NZD, but decreased vs. AUD, CAD, and the yen. The most considerable growth to the dollar index was accounted for the last two days of the week after Mario Draghi’s announcement of possible softening measures in June. On Monday in the USA Federal Budget Balance will be released; on Tuesday – Retail Sales and Import Prices; on Wednesday – Producer Price Index; on Thursday – Philadelphia Fed Manufacturing Index, NAHB Housing Market Index, Consumer Price Index, Treasury International Capital (TIC) Flows, and Industrial Output; and on Friday – Building Permits, Housing Starts, and Preliminary U. of Michigan Consumer Sentiment. On Friday Fed Chair Janet Yellen is due to speak at the US Chamber of Commerce and US Small Business Administration as part of National Small Business Week, in Washington DC. The main event of the week in the Euro-zone will be the Thursday release of preliminary GDP of France, Germany, Italy, and the whole Euro-zone for the 1st quarter to 0.4% q/q against 0.3% in the previous quarter. On Wednesday the Euro-zone Industrial Output will be released; on Thursday – Final Inflation Rate and monthly ECB’s report; and on Friday the Euro-zone Trade Balance will be also released. On Tuesday German ZEW Economic Sentiment is going to be released; and on Wednesday – Final Inflation Rate. On Tuesday Inflation Rate data will be released in Italy as well, and on Wednesday it will be released in France and Spain. The most important day for pound sterling will be Wednesday when the UK Labor Market will be released – and Quarterly BOE Inflation report will be released with new forecasts about Unemployment, GDP, and Inflation Rate; after that BOE’s Governor will have a report. On Thursday in Japan Preliminary GDP for the 1st quarter will be released. On Tuesday in China Industrial Output, Retail Sales, and Fixed Asset Investment will be released. On Monday in Australia NAB Business Confidence will be released; on Tuesday – House Price Index and Home Loans; and on Thursday – New Motor Vehicle Sales. On Tuesday Annual Budget Release will be performed in Australia. On Wednesday in New Zealand quarterly Retail Sales report and semiannual RBNZ Financial Stability Report will be released; and RBNZ Wheeler’s press-conference will also take place. On Thursday Annual Budget Release of New Zealand will be performed as well. [/QUOTE]
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