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[QUOTE="limyeeshin, post: 114401, member: 35099"] [B][U][CENTER][SIZE="5"][COLOR="Blue"]Edition 77|November 14, 2016[/COLOR][/SIZE][/CENTER][/U][/B] The U.S. dollar hit its nine-month high against other major currencies, supported by climbing U.S. yields and speculations that the U.S. President-elect Donald Trump will boost growth and inflation. The investors found hopes that increased fiscal spending and tax cuts under Trump administration will spur a lift in Treasury yields supported by boosted economic growth and inflation. Expectations also boosted that rate hike will keep on path amid increased optimism over growth that allows the Federal Reserve to tighten borrowing costs. Investors raised the chance of rate hike by December by pricing 81.1% probability by Fed Funds Futures Monitor Tool. The dollar rose to 99.68 before settling at 99.5 against basket of other major currencies. The currency gained 2.2% for the week. Nearby in Mexico, the peso slightly recovered on Monday as Trump appeared to soften some of his incendiary campaign pledges that were seen to impact on Mexican economy. The peso has been world’s worst-performing currency this year, falling to record lows after Trump’s winning last week giving fears that he may lower trades and build a wall between two countries, while deporting millions of illegal immigrants in the United States. On Sunday, Trump backed away from his pledge on a border wall, saying some areas could instead use ‘fencing’ and lowered deporting immigrants numbers down to up to 3 million people who has criminal records. The peso rose over 1% on Monday around 20.64 per dollar in Asian trading on Monday. Japanese yen held lower against the U.S. dollar despite the release of upbeat economic growth for the third quarter, as investors sought a renewed bull phase following Trump’s winning. In Japan, the third quarter GDP came in at 0.5% quarterly increase and 2.2% rise yearly, beating 0.2% and 0.9% gains respectively. On Monday, Bank of Japan Governor Kuroda urged companies to hike wages in line with the bank’s 2% inflation target, adding comments that fiscal and monetary measures will remain keys to boost the economy. Trump’s victory has lifted the cloud of risk aversion in equity markets, giving dollar to climb higher against the safe-haven yen. Elsewhere, the euro hit its lowest level since March against the dollar, with EUR/USD trading at 1.0854. Sterling advanced against the dollar and euro with increased hopes that Britain and the U.S. will continue to remain close despite unexpected political upheaval in both countries. GBP/USD traded at 1.2592, rising 0.85% for the week. EUR/GBP fell to 0.8627, down 2.89% for the week. New Zealand dollar fell lower after a strong earthquake and related aftershocks hit New Zealand, leaving 2 casualties with damaged buildings. NZD/USD fell 0.39% at 0.7086. Aussie also held lower at 0.7541, down 0.04%. In the week ahead, investors will be looking ahead to congressional testimony by Federal Reserve Chair Janet Yellen on Thursday for better indications whether the back will raise the interest rate next month. The inflation data from the U.S. and the U.K. will also be closely watched. [COLOR="RoyalBlue"][B][SIZE="4"]Weekly Events and Forecasts[/SIZE][/B][/COLOR] 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, November 14[/COLOR][/U][/B] Japan is to release preliminary reading on third quarter GDP. China is to publish data on industrial production, retail sales and fixed asset investment. Euro zone is to produce data on industrial production. European Central Bank Governor Mario Draghi is to speak at an event in Rome. [B][U][COLOR="Red"]Tuesday, November 15[/COLOR][/U][/B] New Zealand is to release data on retail sales. The Reserve Bank of Australia is to publish the minutes of its latest monetary policy meeting. Euro zone is to report on trade balance and economic growth for the third quarter. In Germany, ZEW institute is to report on economic sentiment. The U.K. is to release data on consumer and retail price inflation. The Bank of England governor Mark Carney is to testify on inflation and economic outlook to the Treasury Committee. The U.S. is to produce data on retail sales, import prices and New York state manufacturing activity. [B][U][COLOR="Red"]Wednesday, November 16[/COLOR][/U][/B] The U.K. is to report on employment. Canada is to release data on manufacturing sales. The U.S. is to publish data on producer price inflation, industrial production and NAHB’s housing market index. [B][U][COLOR="Red"]Thursday, November 17[/COLOR][/U][/B] Australia is to publish its employment report. The U.K. is to release data on retail sales. Euro zone is to publish data on construction production and consumer prices inflation. The U.S. is to produce string of data on building permits, new starts, consumer price inflation and its weekly initial jobless claims. The Federal Reserve Chair Janet Yellen is to testify on the economic outlook at the Joint Economic Committee. [B][U][COLOR="Red"]Friday, November 18[/COLOR][/U][/B] China is to publish data on property prices. Euro zone is to release data on current account. European Central Bank Governor Mario Draghi is to speak at an event in Frankfurt. Canada is to release data on consumer price inflation. The above schedule may change* (Mia Chung) COMPANY PROMOTION [B][COLOR="Blue"]We offered White Label service. Kindly contact us at [email]yeeshin@solforex.com[/email] or [email]support@solforex.com[/email][/COLOR][/B] [/QUOTE]
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