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[QUOTE="limyeeshin, post: 104628, member: 35099"] [SIZE=6][B][U][SIZE="5"][CENTER][COLOR="Blue"]Edition 58|June 27, 2016[/COLOR][/CENTER][/SIZE][/U][/B][/SIZE] The British pound crashed on Friday, suffering from its largest one day selloff in decades. The U.K. voted by 52% to 48% on Thursday for the Brexit and reverberated in global financial markets. Sterling tumbled badly with the fears that the decision could hit investment in the U.K. economy. British Prime Minister David Cameron, who was standing for the Remain campaign, stepped down after the final referendum announcement. Analysts warned that it may downgrade the U.K.’s credit rating by the vote with negative outlook with a prolonged period of uncertainty. The pound found some support after BoE announced that it would take all necessary steps to ensure financial stability. GSB/USD hit 1.3228 and settled at 1.3616 on Friday and fell further to 1.3401 on Monday. It was the biggest drop since mid-1985 Plaza accord. EUR/USD pair also fell 2.3%, traded at 1.1120 late Friday. The U.S. dollar and Japanese yen soared with increased demand in safe-haven currencies after a shock of Brexit votes. Especially, the yen surged against the dollar and USD/JPY pair hit lows of 99.03, before settling back to 102.22. The yen gained slightly further in Asia on Monday after the policymakers in Japan assessed the next steps in financial markets. Policymakers in Japan and China announced to support for the upcoming tumbles in financial markets. Other safe asset gold also soared by 4.7% in the day and traded at 1,322.40 per ounce. On Monday, the trade balance in New Zealand showed a NZD 358 million surplus in May month on month, much higher than NZD 164 million expected. The year on year figure came in at a deficit of NZD 3.63 billion, similar to the previous month. NZD/USD was down 0.67% after the data, traded at 0.7084. AUD/USD traded at 0.7425, down 0.51%. In the week ahead, investors will continue to digest the fallout from the Brexit vote. On Wednesday, Federal Reserve Chair Janet Yellen is to speak at an ECB central bank conference and investors would closely watch for indication on how Brexit will alter the outlook for the interest rate path in the U.S. [B][SIZE="4"][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 27[/COLOR][/U][/B] New Zealand is to release the trade balance. China is to release data on the industrial profit. The U.S. is to report on PMI service sector. [B][U][COLOR="Red"]Tuesday, June 28[/COLOR][/U][/B] Germany is to release data on import prices. The U.S. is to publish final data on first quarter GDP followed by the data on consumer confidence. [B][U][COLOR="Red"]Wednesday, June 29[/COLOR][/U][/B] Japan is to release data on retail sales for May. Australia is to report on new home sales. Euro zone is to publish data on business and consumer sentiment. Germany is to release data on producer prices. The U.K. is to publish hosing prices index and data on net lending. The U.S. is to release reports on personal income and expenses and PCE prices. Federal Reserve Chair Janet Yellen is to speak at the ECB central bank conference in Portugal. [B][U][COLOR="Red"]Thursday, June 30[/COLOR][/U][/B] Japan is to publish data on new starts and construction orders. Euro zone is to release data on producer prices. ECB is to publish its latest monetary policy meeting minutes. Germany is to report on changed in employment and retail sales. The U.K. is to release data on its final first quarter GDP and current account. The U.S. is to publish its weekly initial jobless claims. [B][U][COLOR="Red"]Friday, July 1[/COLOR][/U][/B] Japan is to publish data on unemployment rate and consumer price inflation. China is to release data on PMI manufacturing. Euro zone is to publish data on PMI manufacturing and unemployment rate. The U.S. is to release bundle of reports on PMI and ISM manufacturing, purchasing prices and construction expenses. The above schedule may change* [/QUOTE]
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