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[QUOTE="limyeeshin, post: 100444, member: 35099"] [B][U][SIZE=5][COLOR=#0080ff]Edition 51|April 18, 2016[/COLOR][/SIZE][/U][/B] [COLOR=#000000]The U.S. dollar shortened its gain against other major currencies on Friday after the release of downbeat U.S. economic reports. The U.S. industrial production fell by 0.6%, worse than expected drop of 0.1%. Manufacturing sector fell by 0.3% and capacity utilization rate also fell to 74.8%, below 75.4% expected and from 75.3% in previous month. Another report from University of Michigan of consumer sentiment came in at 89.7 in April, compared to 91.0 in March and disappointing expectation of 92.0. Economy sentiment also fell to 105.4 from 105.6. The release of blunt reports supported the view that the Federal Reserve is likely to continue cautious stances toward future rate hike. The dollar itself fell 0.27% against other major currencies, but was still up 0.46% for the week. EUR/USD pair shortened its loss by 0.17%, but still ended the week down 1.06%. USD/JPY also slid 0.6% to 108.77, but with 0.44% gain on the week. Commodity linked currencies slumped early on Monday after global oil producers failed to agree on an output freeze. A deal to freeze oil production by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia protested that all OPEC countries including Iran should join the agreement, but Iran did not join the meeting. The Failure in freezing agreement led the oil prices dropped over 6% with crude sliding to $37.68 a barrel, while Brent dropped to $40.18 per barrel. Investor rushed to safe-haven yen and EUR/JPY pair hit three-year highs at 122.00 before settling at 122.25. Canadian dollar and Australian dollar both fell more than 1% in early trade. Previously, commodity linked currencies were generally higher with improved China’s economy. The Aussie rallied more than 2% with lowered views on rate cut by the central bank with improved data. NZD/USD also gained 1.5% for the week at 0.6916. In NZ, the first quarter consume report came in line with expectation on Monday, and slid 0.16% with the oil price impact. In the week ahead, investors will pay attention to the European Central Bank’s monetary policy meeting on Thursday followed by data on private sector activity on Friday. [/COLOR] [B][COLOR=rgb(0, 128, 255)]Weekly Events and Forecasts[/COLOR][/B] Ahead of the coming week, Solforex has compiled a list of these and other significant events likely to affect the markets. [B][U][COLOR=#ff0000]Monday, April 18[/COLOR][/U][/B] New Zealand is to release data on consumer price inflation. China is to report on housing prices. The U.S. is to publish housing market index. Canada is to release data on foreign securities purchases. [B][U][COLOR=#ff0000]Tuesday, April 19[/COLOR][/U][/B] The Reserve Bank of Australia is to release its recent monetary policy meeting minutes. In Germany, ZEW Institute is to report on economic sentiment in the Eurozone. Eurozone is to release data on construction production. The U.S. is to publish data on housing starts and building permits. The Reserve Bank of Australia Governor Glenn Stevens is to speak at an event in New York. [B][U][COLOR=#ff0000]Wednesday, April 20[/COLOR][/U][/B] Japan is to publish data on trade balance and machinery orders. In Australia, Westpac is to release composite leading index. The U.K. is to report on unemployment rate and average weekly earnings. Germany is to release data on producer price inflation. Canada is to publish data on wholesale sales. The U.S. is to release data on existing home sales. [B][U][COLOR=#ff0000]Thursday, April 21[/COLOR][/U][/B] Australia is to release NAB economic sentiment report. The U.K. is to publish data on retail sales. In the Eurozone, the ECB is to hold monetary policy meeting and announce its policy decision followed by a press conference with President Mario Draghi. The U.S. is to release data on initial jobless claims and Philadelphia and Chicago region manufacturing. [B][U][COLOR=#ff0000]Friday, April 22[/COLOR][/U][/B] Japan is to release Nikkei manufacturing report. Eurozone is to publish data on manufacturing and service sector. Canada is to release data on core consumer price inflation and core retail sales. The U.S. is to close week with release of PMI manufacturing index. [B][/B] [/QUOTE]
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