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[QUOTE="limyeeshin, post: 111407, member: 35099"] [B][U][SIZE="5"][COLOR="Blue"][CENTER]Edition 73|October 10, 2016[/CENTER][/COLOR][/SIZE][/U][/B] The U.S. dollar fell against major currencies last Friday after the release of disappointing U.S. employment data for September. The Labor Department reported that the U.S. economy added 156,000 jobs last month, falling from 167,000 gain in August and disappointing 176,000 new jobs seen, while the unemployment rate rose to 5.0%, above 4.9% expected. Despite the slower than expected data, the Federal Reserve’s rate hike still seems to be on foot this year. Markets currently pricing in around a 65% chance of rate hike at December’s meeting. The dollar gained 1.3% for the week with grown expectations for the Federal Reserve to raise interest rates by the end of this year. The British pound sharply fell on Friday, falling further than 6% in Asian trading for the day. Most analysts expected that it could have caused by algorithms picking up on comments from French President Fancois Hollande, who took a rough position on Brexit. The currency has been under pressure for selling amid fears of the impact of Britain’s exit from the European Union. GBP/USD fell as low as 1.2035 before recovering to 1.2436, down 1.5% at closing. Meanwhile, the EUR/USD inched up 0.5% and settled at 1.1201. Chines yuan was sharply lower against the dollar on Monday at 6.7015 after the People’s Bank of China weakened the fixing to the lowest since September 2010 in the first trading before the week-long National Day holiday. People’s Bank of China Governor Zhou Xioachuan and Bank of Japan Governor Haruhiko Kuroda as well as Fed Vice Chairman Stanley Fischer made comments at the weekend on the policy outlook at the IMF meeting in Washington. USD/JPY changed hands on Monday at 102.94, up 0.03% after the 1% drop on Friday. Markets in Hong Kong, Japan, and Taiwan were shut regionally on Monday. The Australian and New Zealand dollars slightly held lower within light trade ahead of the U.S. presidential debate between Donald Trump and Hillary Clinton. The Commonwealth Bank of Australia’s currency strategist Elias Haddad said that if Trump outperforms, there would be a greater chance of the U.S. dollar would rise against most major currencies. It’s because his economic policies are inflationary and would force the Federal Reserve to increase the rates at a faster pace. Haddad also corecasted slightly firmer Aussie and Kiwi should Clinton outperform. AUD/USD traded at 0.7545, while NZD/USD traded at 0.7166. Mexican peso and Canadian dollar also rose ahead of the debate. In the week ahead, investors will be looking ahead to Federal Reserve’s September policy meeting minutes on Wednesday for fresh indication on the pace of the rate hike. There are several speeches from Fed members including the Chair Janet Yellen within this week, amid traders look for more hints on a December rate hike. The U.S. retail sales data will be also closely watched. Elsewhere, China’s trade and inflation data will be released amid ongoing concerns over the world’s second largest economy’s slowdown. [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, October 10[/COLOR][/U][/B] Financial markets in the U.S., Japan, Canada, Hong Kong, and Taiwan are to be closed for the national holidays. Australia is to release data on foreign exchange holding. Germany is to publish data on current account. In the Eurozone, Sentix is to report on investors’ sentiment. In the U.S., Chicago Fed President Charles Evans is to speak on monetary policy. [B][U][COLOR="Red"]Tuesday, October 11[/COLOR][/U][/B] Japan is to release data on current account. Australia is to publish data on home loans and NAB business confidence. In the euro zone, ZEW institute is to report on German economic sentiment. The U.S. is to produce data on labor market condition index. [B][U][COLOR="Red"]Wednesday, October 12[/COLOR][/U][/B] Japan is to produce data on core machinery orders. Euro zone is to release data on industrial production. The Federal Reserve is to publish its September’s policy meeting minutes. The U.S. is to release data on job openings and labor turnover (JOLTs). New York Fed President Bill Dudley and Kansas City Fed President Ester George are to speak on Business Council of New York and Federal Reserve Bank of Chicago Annual Payments Symposium. [B][U][COLOR="Red"]Thursday, October 13[/COLOR][/U][/B] China is to release data on trade balance. Germany is to publish data on consumer price inflation. The U.S. is to report on import prices and initial jobless claims. [B][U][COLOR="Red"]Friday, October 14[/COLOR][/U][/B] The Reserve Bank of Australia is to release its financial stability report. Japan is to produce data on producer price inflation. China is to publish data on consumer and producer price inflation. The Bank of England will release credit conditions survey. The euro zone is to publish data on trade balance. The U.S. is to report on retail sales, core producer price inflation and Michigan University report on consumer sentiment. The Federal Reserve Chair Janet Yellen is to speak on macro-economic research after the crisis at the Fed Boston’s Annual Research Conference. The above schedule may change* [/QUOTE]
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