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[QUOTE="limyeeshin, post: 105889, member: 35099"] [B][U][CENTER][SIZE="5"][COLOR="Blue"]Edition 61|July 18, 2016[/COLOR][/SIZE][/CENTER][/U][/B] The U.S. dollar strengthened against major currencies last week after an attempted coup within the Turkish military. The dollar rallied against the Turkish lira by jumping 4.73% at 3.0137 after Turkey’s prime minister announced there was a coup attempt under way. A faction inside the Turkish military attacked parliament building in Ankara and took over bridges in Istanbul. The dollar pushed higher after the release of upbeat U.S. economic report. The U.S. Commerce Department reported that the retail sales rose 0.6% in June following the third consecutive increase. Demand for save haven yen was also boosted as the market shows volatility, USD/JPY pair was down 0.47% at 104.88. The dollar still gained 4.16% against the yen for the week as widely expected additional quantitative easing by Bank of Japan pressured the currency lower. The dollar gained 0.62% against other major currencies at 96.70. The euro tumbled against the dollar and yen on late Friday with increased risk aversion after Turkey’s attempted military coup was announced by the prime minister. EUR/USD fell sharply by 0.83% to 1.1029 and EUR/JPY fell 1.22% at 115.74 after the announcement. The euro however rose against sterling after the Bank of England’s chief economist said it is poised to ease monetary policy in August as a counteract for the economic shock from the Brexit vote. EUR/GBP rose 0.56% and traded at 0.8366. Investors are looking ahead to ECB meeting this Thursday for the indication of further easing measures to settle the fallout from Brexit shock. The ECB is however widely expected to remain the monetary policy unchanged ahead of inflation forecasts. The pound fell sharply against the dollar on Friday after the announcement from the Chief economist of BoE with negative stance on easing monetary policy. The currency still ended the week with gains of 1.85% as The Bank of England kept the interest rates on hold at the recent policy meeting, breaking the expectation of a rate cut. GBP/USD traded at 1.3181 late Friday, down 1.2%. New Zealand dollar held lower on early Monday in Asia after the downbeat consumer price data for second quarter. New Zealand second quarter CPI came in at 0.4%, below 0.5% gain expected. The Reserve Bank of New Zealand is to review the rate in next month and the slower data widened the scope for lowering the official cash rate. NZD/USD traded at 0.7083, down 051% after the CPI release. In the weekend, China released reports on industrial production and retail sales beating expectations. AUD/USD traded at 0.7586, up 0.08%. In the week ahead, investors will closely watch the outcome of European Central Bank meeting on Thursday for indication of whether the bank will increase easing measures to mitigate the economy fallout from the Brexit vote. The U.K. economic reports on employment and inflation will be also in focus. [B][COLOR="RoyalBlue"]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="Red"]Monday, July 18[/COLOR][/U][/B] Markets in Japan are closed for the national holiday. New Zealand is to release data on consumer price inflation. The U.S. is to release NAHB housing market index for July. [B][U][COLOR="Red"]Tuesday, July 19[/COLOR][/U][/B] The Reserve Bank of Australia is to publish minutes on its recent monetary policy meeting. In the Euro zone, German institute ZEW is to report on economic sentiment. The U.K. is to publish data on consumer price inflation, retail sales, producer prices inflation and housing price index. The U.S. is to release data on new starts and building permits. [B][U][COLOR="Red"]Wednesday, July 20[/COLOR][/U][/B] In Australia, Westpac is to report on CI. Euro zone is to release data on consumer sentiment and current account. Germany is to publish data on producer price inflation. The U.K. is to release monthly employment report. [B][U][COLOR="Red"]Thursday, July 21[/COLOR][/U][/B] Japan is to release data on machinery orders and industrial activity. Australia is to releaser private sector report on business sentiment. The European Central Bank is to hold monetary policy meeting and announce its policy and rate decision. The Governor Mario Draghi is to hold press conference following the meeting. The U.K. is to publish data on retail sales. The U.S. is to release data on weekly initial jobless claims and FHFA housing price index. [B][U][COLOR="Red"]Friday, July 22[/COLOR][/U][/B] Japan is to release data on PMI manufacturing. Germany is to publish PMI data on manufacturing and service sector. The U.S. is to release data on manufacturing. Canada is to release data on retail sales and consumer inflation. The above schedule may change* [/QUOTE]
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