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[QUOTE="limyeeshin, post: 114990, member: 35099"] [B][U][CENTER][SIZE="5"][COLOR="Blue"]Edition 78|November 21, 2016[/COLOR][/SIZE][/CENTER][/U][/B] The U.S. dollar hit its highest level since 2003 against the other major currencies on Friday amid ongoing rally driven by the U.S. presidential election and increased expectation on rate hike by the Federal Reserve. The greenback has been rising up to 3.0% this month following the outcome of the presidential election, as well as rising in U.S. Treasury yields. Investors continued to bet that new administration of President-elect Donald Trump would embark on expansion of fiscal policies and boost growth. Analysts said the market is buying the dollar and selling U.S. Treasuries which seems to continue for a while until we get the details of ‘Trumponomics’. The yield on U.S. benchmark 10 year Treasury notes rose to a one year high of 2.364% on Friday. Most market participants expect the Federal Reserve would raise the interest rates at its December meeting. Also expectations have been grown that a Trump presidency will boost growth and lead to faster rate hikes which supported the dollar to jump to 13.5 year highs against other major currencies. The dollar was weighted at 101.41 late Friday, with its highest close since 2003. Safe haven yen plunged to its five months lows as well as the traditional safe haven Swiss franc fell to its nine-month lows against the greenback, amid ongoing strong rally on the U.S. dollar boosted by widened expectation on Fed’s rate hike in next month. USD/JPY pair rose 0.71% at 110.89 in late trade and USD/CHF hit 1.0122 before settling at 1.0099 late Friday. The euro and sterling also retreated against the U.S. counterpart with rally in greenback. EUR/USD traded at 1.0588 falling to its 11-month lows and GBP/USD fell 0.61% to its two weeks low at 1.2344. In the week ahead, amid ongoing trend on the U.S. dollar’s strong rally, the trade volumes are expected to remain light around Thursday’s Thanksgiving and Friday’s early closing. The release of U.S. data on jobs and durable goods would be closely watched to track the strength of the economy. In the euro zone, business activity report will be closely watched to get fresh indications on the health of the euro zone’s economy. [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, November 21[/COLOR][/U][/B] Japan is to release data on trade balance and industrial activity. Canada is to publish data on wholesale sales. The U.S. is to report on manufacturing in Chicago region. [B][U][COLOR="Red"]Tuesday, November 22[/COLOR][/U][/B] New Zealand is to publish data on retail sales. Euro zone is to release data on consumer sentiment. European Central Bank President Mario Draghi is to testify on the bank’s annual report at the European Parliament. The U.K. is to report on borrowing. The U.S. is to release data on existing home sales and manufacturing in Richmond region. [B][U][COLOR="Red"]Wednesday, November 23[/COLOR][/U][/B] Financial markets in Japan will be closed for a national holiday. New Zealand is to report on producer price inflation. The U.K. Chancellor Philip Hammond will present the autumn budget statement to parliament. The euro zone is to publish survey data on private sector activity. The U.S. is to release bundle of data on durable goods orders, new home sales, consumer sentiment, manufacturing and its weekly initial jobless claims. The Federal Reserve is to publish the November policy meeting minutes. [B][U][COLOR="Red"]Thursday, November 24[/COLOR][/U][/B] Financial markets in the U.S. are to be closed for the Thanksgiving Day. In Germany, IFO Institute is to report on business climate. [B][U][COLOR="Red"]Friday, November 25[/COLOR][/U][/B] Japan is to release data on consumer price inflation. The U.K. is to publish revised third quarter GDP growth. The U.S. is to report on wholesale and retail inventories, and service activity. 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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