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[QUOTE="limyeeshin, post: 107720, member: 35099"] [B][U][SIZE=6][COLOR=#0000ff]Edition 65|August 15, 2016[/COLOR][/SIZE][/U][/B] The U.S. dollar held lower against other major currencies after downbeat U.S. consumer spending and inflation data, diminishing expectations for the sooner pace of Federal Reserve rate hike. The U.S. Commerce Department reported that the retail sales were flat in July, compared to 0.8% growth in previous month and lower than 0.4% rise expected. Producer prices also fell 0.4%, showing the largest drop since last September. Consumer sentiment for August also came in below expectations. The unexpectedly weak data led investors to push back expectations for the next rate hike. Fed fund futures changed the probability of a rate hike by September down to 9%. The dollar fell about 0.25% to 95.68for the day, after disappointing data. Japanese yen rose against the dollar up to 0.7% after bundle of downbeat U.S. data release on Friday. The yen has gained in a three consecutive week against the dollar. Monday, Japan reported second quarter GDP with a gain of 0.2% annually, disappointing 0.7% increase expected. The figures weighed down by sluggish private consumption and net exports. Consumer spending, which accounts for 50% of the GDP, increased 0.2% for the quarter, slightly better than 0.1% decline expected. Japan has put together an economic stimulus package in total of ¥28.1 trillion including ¥7.5 trillion fiscal spending over next few years. USD/JPY changed hands Monday at 101.33, up 0.06% after the GDP data. The British pound weakened further against the greenback, amid expectations that the U.K. monetary policymakers will be forced to add to recent stimulus measures to buffer the economy from Brexit vote aftershock. GBP/USD hit 1.2904 against the greenback and settled at 1.2914, down 0.3% for the day and -1.15% for the week. Meanwhile in the euro zone, industrial production rose 0.6% in June, after a 1.2% decline in previous month and above 0.5% gain expected. Also Germany’s economy has expanded 0.4% in the second quarter, above the expectations. EUR/USD climbed to a more than one week peak at 1.1221 before settling at 1.1161. Elsewhere, the commodity linked currencies came under pressure after lower-than-expected Chinese economic data. In China, the industrial production gained 6.0% in July, slightly below 6.1% gain seen. Fixed asset investment rose 8.1%, disappointing 8.8% increase expected. Retail sales rose 102%, also missing the projections of 10.5%. Australian dollar traded at 0.7650 after the downbeat China data, where the country is Australia’s major trading partner. In the week ahead, investors will be attentive to Wednesday’s FOMC meeting minutes for the fresh indication on the pace of next rate hike. Japan is to release second quarter preliminary growth reading, which will hint for the next step from the government, amid concerns over recent yen strength. U.K’s employment reports and prices data will also be in focus to indicate continuing effect from the Brexit decision. [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, August 15[/COLOR][/U][/B] Japan is to release data on second quarter GDP, manufacturing and private spending. China is to publish data on new yuan loans and foreign direct investments. Switzerland is to release producer price index. The U.S. is to report on New York state manufacturing followed by NAHB housing market index. [B][U][COLOR=Red]Tuesday, August 16[/COLOR][/U][/B] The Reserve Bank of Australia is to release minutes of its recent monetary policy meeting. The U.K. is to publish data on consumer prices, retail prices, producer prices inflation, as well as housing price index. Euro zone is to release data on trade balance. In Germany, ZEW institute is to report on economic sentiment in the euro zone. Canada is to report on manufacturing sales. The U.S. is to publish bundle of data on new starts, building permits, consumer prices and industrial production. [B][U][COLOR=Red]Wednesday, August 17[/COLOR][/U][/B] New Zealand is to release quarterly employment report. In Australia, Westpac is to report on economic leading indicators, followed by data on wage price index. The U.K. is to publish data on unemployment. In the U.S., the Federal Reserve is to release its latest meeting minutes. [B][U][COLOR=Red]Thursday, August 18[/COLOR][/U][/B] Japan is to release data on trade balance and machinery orders. China is to publish data on property prices. Australia is to report on employment. Euro zone is to release data on current account and consumer price inflation. The U.K. is to publish data on retail sales. The U.S. is to report on its weekly initial jobless claims and Philadelphia state manufacturing. [B][U][COLOR=Red]Friday, August 19[/COLOR][/U][/B] Japan is to publish data on industrial activity. Germany is to release data on producer price inflation. The U.K. is to report on public sector borrowing. Canada is to publish data on retail sales and consumer inflation. The above schedule may change* [/QUOTE]
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