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[QUOTE="limyeeshin, post: 105463, member: 35099"] [B][U][SIZE=6][COLOR=#4d4dff]Edition 60|July 11, 2016[/COLOR][/SIZE][/U][/B] The U.S. dollar ended lower against other major currencies on Friday despite upbeat U.S. jobs data as investors broadly dimmed their expectations for another interest rate hike in near future. The Labor Department reported that the U.S. economy added 287,000 jobs in June, much higher than 175,000 jobs expected by the analysts. Average hourly earnings also came in at 2.6% increase, compared to the previous year. Unemployment rate however ticked up to 4.9% and May’s figure was revised down to 11,000. Despite the strong jobs report, the Federal Reserve’s cautious path for next rate hike seemed to be continuing following the threat of a Brexit from the EU. The dollar fell to 96.31 in late Friday against major six currencies. USD/JPY fell 0.19% and closed at 100.59. In China, National Bureau of Statistics reported that June’s Consumer Price Index moderated to 1.9% in annual basis due to the changed weighting of the goods sentiments in the index and weaker gains in food prices. Food prices rose 4.6% year on year, dropped from 5.9% rise in May and 7.4% increase in April. Pork prices, which were the biggest driver of consumer inflation in recent months, rose 30.1% year on year. The report implies that China is in a sustained period of moderate inflation, giving thoughts that the People’s Bank of China is less likely to take aggressive monetary easing. China is to report on second quarter growth on Friday. The British pound slightly gained against the U.S. counterpart on Friday as the dollar wavered broadly in up and down trades following June’s labor report. GBP/USD pair traded between 1.2881 and 1.3018 before settling at 1.2952, up 0.36%. Sterling recorded its fourth winning session after the Brexit vote. The pound has tumbled nearly 13% since the referendum result decided the U.K. to leave European Union, hitting lowest level against the dollar in 31 years, at below 1.28. The outlook for the pound still remained to the downside ahead of the monetary policy announcement by the Bank of England on Thursday. Commodity linked currencies generally were higher against the dollar. AUD/USD pair advanced 1.18% at 0.7571. NZD/USD pair also rose by 1.09% to 0.7307. Canadian dollar however tumbled against the greenback as the Canadian jobs data declined further than expected level. USD/CAD gained 0.32% to 1.3042 in late trade. In the week ahead, investors will closely watch monetary policy announcement by the Bank of England. The Bank of Canada is also to hold a policy meeting in this week. Investors will be looking ahead to the U.S. reports on consumer inflation and confidence and second quarter GDP growth data from China. [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, July 11[/COLOR][/U][/B] Japan is to release data on core machinery orders. Australia is to publish data on home loans. In the Eurozone, Financial Ministers are to hold a meeting in Brussel. The U.S. is to report on labor market conditions for June. [B][U][COLOR="Red"]Tuesday, July 12[/COLOR][/U][/B] Japan is to release data on produce price inflation. China is to publish data on foreign direct investment. In Australia, NAB is to report on business confidence. Germany is to release data on consumer price inflation and wholesale prices. Bank of England Governor Mark Carney is to testify on the economic outlook at the Parliament’s Treasury Committee. The U.S. is to publish data on wholesale inventory. [B][U][COLOR="Red"]Wednesday, July 13[/COLOR][/U][/B] China is to release trade balance for June. In Australia, Westpac is to report on consumer sentiment. Euro zone is to publish data on industrial production. Bank of Canada is to hold a monetary policy meeting and announce its rate statements. The U.S. is to release data on import prices and mortgages. [B][U][COLOR="Red"]Thursday, July 14[/COLOR][/U][/B] Australia is to report on employment and consumer sentiment on inflation. The Bank of England is to publish the meeting minutes of the day and announce its monetary policy decisions. The U.S. is to release data on producer prices and its weekly initial jobless claims. [B][U][COLOR="Red"]Friday, July 15[/COLOR][/U][/B] China is to release a string of data on industrial production, retail sales, fixed asset investment and second quarter GDP growth. Euro zone is to publish data on trade balance and revised consumer price inflation. Canada is to report on manufacturing sales. The U.S. is to release a file of reports on consumer prices, retail sales, average real income, industrial production and New York State manufacturing. The above schedule may change* [/QUOTE]
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