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[QUOTE="limyeeshin, post: 103859, member: 35099"] [CENTER][B][U][COLOR=Blue][SIZE=6]Edition 56|June 13, 2016[/SIZE][/COLOR][/U][/B][/CENTER] The U.S. dollar ended last week stronger against the other major currencies despite reduced expectations for June rate hike by the Federal Reserve. The Fed Chair Janet Yellen indicated earlier that interest rates won’t be raised until the economic outlook is certain. The CME Group’s Fed Watch tool also reported that there is only 1.9% chance the FOMC will raise the rates in June. The U.S. employment report for May also showed dismal increase, with only 38,000 jobs added, the smallest rise since 2010. It is widely expected that FOMC will keep the interest rate at 0.25-0.50% due to the employment slump and Brexit concerns. The dollar still gained 0.65% in late Friday against other currencies, with weekly gains of 0.56%. USD/JPY traded at 106.98, with 0.42% weekly gains. EUR/USD fell 0.57% for the day, with week’s losses of 1.02%. The British pound and the euro fell to the lowest level since 2013 against Japanese yen as seek for safe haven increased due to rising concerns on U.K. referendum for Brexit in the European Union. GBP/JPY fell as low as 151.50 and EUR/JPY hit 119.87, both lowest trade levels since 2013. GBP/USD also tumbled 1.39% on Friday at 1.4258, with weekly losses of 1.8%. The yen also gained against the U.S. counterpart, with USD/JPY trading at 106.68, down 0.30%. The yen strengthened as investors geared up for a busy week of central bank policy reviews. The Bank of Japan is to announce its monetary policy meeting statement on this Thursday. The commodity linked currencies were generally weakened. AUD/USD fell 0.79% at 0.7372 and NZD/USD also slumped 0.65% to 0.7059. USD/CAD gained 0.50%, traded at 1.2752. China, where commodity related currencies get more impact from its economy, is due for bundle of reports on Monday. The industrial production for May is expected to go up 5.9% annually and retail sales are seen up 10.1% year-on-year. Fixed asset investment is expected with 10.5% gain in May. In the week ahead, investors will pay attention to Wednesday FOMC monetary policy announcement for more clues on future pace of U.S. rate hike. There will be also central bank meetings in Japan, the U.K., and Switzerland. [B][SIZE=5][COLOR=RoyalBlue]Weekly Events and Forecasts[/COLOR][/SIZE][/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=Red]Monday, June 13[/COLOR][/U][/B] Markets in Australia will be closed for national holiday. Japan is to release data on second quarter BSI manufacturing. China is to publish data on industrial production, retail sales, and fixed asset investment for May. [B][U][COLOR=Red]Tuesday, June 14[/COLOR][/U][/B] In Australia, NAB is to report on business confidence. Euro zone is to release data on industrial production and employment. The U.K. is to publish data on consumer and producer price inflation, and retail prices. The U.S. is to release figures on import and export prices followed by retail sales data with core retail sales in May. [B][U][COLOR=Red]Wednesday, June 15[/COLOR][/U][/B] Australia is to release private sector data on consumer sentiments. Euro zone is to release the trade balance. The U.K. is to publish its monthly employment report. In the U.S., the Federal Reserve is to announce its monetary policy reviews with rate statements followed by press conference by Fed Chair Janet Yellen. The U.S. is to release bundle of reports on producer prices, industrial production, capacity utilization and New York state manufacturing. [B][U][COLOR=Red]Thursday, June 16[/COLOR][/U][/B] New Zealand is to publish data on first quarter economic growth. Australia is to release monthly employment report. Bank of Japan is to announce its monetary policy reviews with benchmark interest rate statement. Euro zone is to release ECB monetary policy meeting minutes. The U.K. and the euro zone are to publish data on retail sales and core retail sales. Bank of England is to announce its latest monetary policy decisions at the end of its monthly meeting. The U.S. is to publish string of data on its initial jobless claims, consumer price inflation, housing market index, and Philadelphia state manufacturing. [B][U][COLOR=Red]Friday, June 17[/COLOR][/U][/B] Euro zone is to release data on current account. Canada is to publish its latest inflation report. The U.S. is to report figures on building permits and housing starts. The above schedule may change* [/QUOTE]
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