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[QUOTE="limyeeshin, post: 107249, member: 35099"] [SIZE=6][B][U][CENTER][SIZE="5"][COLOR="Blue"]Edition 64|August 8, 2016[/COLOR][/SIZE][/CENTER][/U][/B][/SIZE] The U.S. dollar rose sharply to a one-week high against other major currencies after the release of better than expected employment report. The Labor Department reported that U.S. economy added 255,000 jobs in July, much higher than 180,000 jobs expected. June’s figure was also revised up to 292,000 jobs from 287,000. The unemployment rate held steady at 4.9% and average hourly earnings had monthly increase of 0.3%, above 0.2% gain seen. The upbeat employment data widened expectations of the interest rate hike by the Federal Reserve this year. Fed funds futures priced the possibility of the rate hike by September to 15% chance, and 44% chance by December. The greenback rose 0.5% for the day to 96.19 against other major currencies. Japanese yen held lower after the release of disappointing adjusted current account on Monday. Japan’s adjusted current account came in at ¥1.65 trillion, much lower than ¥3.20 trillion surplus expected for July. Bank lending rose 2.1%, slightly above 2.0% seen by consensus. Earlier in Japan, investors were disappointed by details of Japanese Prime Minister Shinzo Abe’s fiscal stimulus program which led yen rose to a three week highs against the dollar. USD/JPY changed hands on Monday at 102.02, up 0.23% after the data release. Australian dollar fell after Chinese trade data showed decline in imports. In China, July’s trade balance came in at a surplus of $52.31 billion, better than $47.6 billion expected but annual exports fell by 4.4%, further than 3.0% drop seen and imports fell 12.5%, much worse than 7.0% drop expected. FX reserves came in at CNY3.2 trillion as expected. Better surplus in trade balance was from the huge drop in imports which have lowered Australian dollar, where the country’s biggest export partner is China. AUD/USD traded at 0.7611, down 0.08%. Elsewhere, the euro slid against the dollar with EUR/USD pair hitting 1.1046 before settling at 1.1086, down 0.4% for the day. The sterling also tumbled after the Bank of England cut interest rates to a record low of 0.25% on Thursday with fresh easing measures to combat economy downturn following the Brexit vote. GBP/USD slumped to a three-week low at 1.3022 and settled at 1.3070, 1.2% drop of the week. In the week ahead, investors will closely watch U.S. economic reports to indicate the health of the economy that is strong enough to bear a rate hike in close future. Euro zone is to release second quarter GDP growth. Also, U.K.’s manufacturing production is to be closely watched to clarify the economy’s strength in wake of Brexit vote. [SIZE=5][B][SIZE="4"][COLOR="RoyalBlue"]Weekly Events and Forecasts[/COLOR][/SIZE][/B][/SIZE] 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, August 8[/COLOR][/U][/B] Japan is to release data on current account. China is to publish trade balance. Germany is to release data on industrial production. Canada is to report on building permits. [B][U][COLOR="Red"]Tuesday, August 9[/COLOR][/U][/B] In Australia, NAB is to report on business confidence. China is to publish data on consumer and producer price inflation. Germany is to release trade balance. The U.K. is to publish data on mining and manufacturing production followed by trade balance release. In the U.S., NFIB is to report on small business optimism index followed by data release on nonfarm productivity and wholesale inventory. [B][U][COLOR="Red"]Wednesday, August 10[/COLOR][/U][/B] Japan is to release data on home loans, core machinery orders as well as producer price inflation. In Australia, Westpac is to report on consumer sentiment followed by data on home loans. China is to release data on new yuan loans and foreign direct investment. The U.S. is to publish private sector data on mortgage applications. [B][U][COLOR="Red"]Thursday, August 11[/COLOR][/U][/B] Markets in Japan is to be closed for its national holiday. The Reserve Bank of New Zealand is to announce its overnight official cash rate and publish rate statements. Australia is to publish data on consumer price inflation forecast. The U.K. is to report on housing prices. The U.S. is to release weekly initial jobless claims report and import prices. [B][U][COLOR="Red"]Friday, August 12[/COLOR][/U][/B] China is to release data on manufacturing production, retail sales, and fixed asset investment. Germany is to publish data on consumer price inflation. Euro zone is to report on industrial production and second quarter GDP growth. The U.S. is to release data on retail sales, producer prices, and consumer sentiment. The above schedule may change* [/QUOTE]
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