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[QUOTE="limyeeshin, post: 90549, member: 35099"] Last week, the U.S. dollar was weakened against other major currencies with increased possibility of delay in rate hike by Federal Reserve. Beginning of the week, the dollar was high with expectations for easement in the economy by Trans-Pacific Partnership (TPP) negotiation. Also, the oil price rebounded and has mitigated the concerns for emerging countries’ economy slowdown, strengthened emerging market currencies despite the dollar being bullish. Later the week, the U.S. trade balance was worsened and state fed presidents gave dovish statements that increased the possibility for the Federal Reserve to delay hiking rate, turned the dollar bearish. The FOMC meeting minutes also reconfirmed that rate hike is not going to be easy in consideration of emerging market slowdown. Commodity related currencies were generally high, the Australian dollar railed to its seven-week highs, jumping 1.18% to its U.S. counterpart traded at 0.7343 but it fell lower in early trading today with no major data due. AUD/USD traded at 0.7319, down 0.32%. New Zealand dollar rose to 10-week peaks against the U.S. dollar, with NZD/USD gaining 0.4% to 0.6693. Canadian dollar also went higher to its 10 week highs, with USD/CAD falling 0.52% to 1.2947. Japanese yen was slightly higher after the monetary policy meeting last week with lowered expectation for the additional asset buying program. However, it turned bearish after rebound of oil and non-ferrous metal prices, lowering preferences toward safe asset. The pair changed hands with USD/YEN gaining 0.30%. Yen slightly fell further today while the Japan market is shut for the national holiday. USD/JPY pair traded at 120.25, up 0.03%. In the week ahead, market participants will be looking ahead to the U.S. data on retail sales and consumer prices for fresh for determination of market improvement which will influence rate hike decision by Federal Reserve. Also, jobs report in the U.K. and Australia will be closely watched. [B]Weekly Events and Forecasts[/B] Ahead of the coming week, Solforex has compiled a list of these and other significant events likely to affect the markets. [B][U]Monday, October 12[/U][/B] Markets in Japan, Canada and The U.S. are closed for national holiday. In the U.S., Chicago state Fed president Charles Evans is to speak. Investors will be attentive to his speech as he is preparing to speak about monetary policy. Many investors expect that he will give dovish statements. OPEC monthly report is to be released. [B][U]Tuesday, October 13[/U][/B] In Australia, RBA vice governor Lowe is to speak. New Zealand is to release food prices index. Japan is to publish minutes on recent monetary policy meeting and release data on consumer sentiment and core machinery orders. In the Eurozone, Germany is to release data on consumer and wholesale prices followed by Zew institute’s report on the business climate. The U.K. is to release data on consumer, producer and retail prices inflation. [B][U]Wednesday, October 14[/U][/B] In Australia, Westpac bank is to publish data on consumer sentiments. Japan is to release data on producer prices inflation. China is to release consumer and producer prices index. In the U.K., employment data is to be released including average wages, movements in employment and unemployment rate. In the Eurozone, data on industrial production is to be published. The U.S. is to release data on producer prices, retail sales. Also, the beige book is to be published later of the day. [B][U]Thursday, October 15[/U][/B] Australia is to release data on employment including movements in labor and unemployment rate. Japan is to produce data on industrial production. IN the U.S., data on consumer price inflation and initial jobless claims are to be released. Later the day, New York state Fed president William Dudley is to speak. [B][U]Friday, October 16[/U][/B] In New Zealand, data on consumer price inflation is to be released. In the Eurozone, data on consumer price inflation and trade balance are to be released. Canada is to publish data on manufacturing sales. The U.S. is to round up the week with data on industrial production, JOLTs and consumer expectation index. [/QUOTE]
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