The Main Events of the Week. December 09, 2013

9 December, 2013

The US dollar rose considerably on Friday Vs the yen; it fell Vs the euro, Australian dollar and New Zealand dollar; it almost didn’t change Vs the pound and Canadian dollar – after the release of the U.S. Non-Farm Payrolls and Consumer Confidence which generally exceeded the expectations. 

According to the Labor Department the U.S. Non-Farm Employment Change grew in November by 203 thousand having exceeded the forecasted growth by 180 thousand – which has become the highest growth for three months. Unemployment rate dropped by 0.3% at once to 7% having significantly exceeded the expected decrease to 7.2% - and has reached the lowest level for five years since November, 2008. The report released on Friday can strengthen the expectations that the Fed will start QE3 tapering faster than it was expected earlier. 

Consumer Confidence also turned out better than expected. Preliminary U. of Michigan Consumer Sentiment rose unexpectedly in December to 5-month high 82.5 p. in comparison with the final reading for November of 75.1 and the forecast of 76 p. Both Current Assessment and Expectations have risen. At the same time Personal Income and Personal Spending report showed a decrease of personal income by 0.1% m/m in October against the forecasted growth by 0.3%. 

 

By the end of the week the US dollar lost 0.50% according to the dollar index weakening for four weeks in a row. Currency dynamics was mixed. The dollar fell against the New Zealand (-1.94%), Swiss franc (-1.47%) and the euro (-0.87%) – but it grew Vs the Canadian dollar (+0.45%), Japanese yen (+0.41%), British pound (+0.15%) and Australian dollar (+0.09%). 

There will not be a lot of important data during the second week of the month. In the USA on Tuesday Wholesale Inventories and Wholesale Trade Sales will be released; on Wednesday - Federal Budget Balance; on Thursday – Retail Sales, and import prices; and on Friday – Producer Price Index. From Tuesday to Thursday the U.S. Department of the Treasury will be holding long-term Bond Auction. James Bullard will deliver a speech about monetary policy on Monday. 

In the euro-zone industrial output and ECB Monthly Bulletin will be released on Thursday. Industrial output will be also released in other euro-zone countries: in Germany – on Monday, in France and Italy – on Tuesday. In Germany Trade Balance will be released on Monday; and inflation – on Wednesday. On Tuesday Italian Final GDP for the second quarter will be released; and on Thursday – inflation data in France and Italy. ECB president Draghi will make a speech on Tuesday in Rome; and on Thursday – in European Parliament. 

In the UK Industrial Output and Trade Balance will be released on Tuesday. Bank of England governor Carney will make a speech on Monday in New York. In Japan the Final GDP for the third quarter and Current Account will be released on Monday; on Tuesday -  BSI Manufacturing Index; and on Wednesday - Core Machinery Orders. 

In Australia NAB Business Confidence will be released on Tuesday and on Wednesday - Westpac Consumer Sentiment – but a labour report on Thursday may become the most important. On Thursday RBNZ Interest Rate Decision will be announced and a quarterly Press Conference of RBNZ governor Wheeler will be held. Bank of Canada governor Poloz will make a speech on Thursday about risks for Canadian financial system. In China inflation data will be released on Monday; and on Tuesday – industrial output, retail sales and investment. 


Source link  
German Economic Sentiment dropped to 7-Month Low

On Tuesday March, 18 the US dollar was traded mixed before the announcement of 2-days FOMC Meeting on Wednesday. The US dollar increased vs. the pound sterling and the Canadian dollar, but decreased vs. the yen...

New Zealand Consumer Sentiment Rose to 9-Year High

On Monday March, 17 the US dollar was traded mixed amid controversial statistics in the USA. The US dollar increased vs. the yen, but decreased vs. major commodity currencies...

US dollar decreased vs. the yen. The euro, and the pound sterling, but slightly increased vs. major commodity currencies

On Friday March, 14 the US dollar decreased vs. the yen. The euro, and the pound sterling, but slightly increased vs. major commodity currencies having lost 0.2% to the dollar index amid the US Consumer Confidence decrease to 4-months low...


ECB Is Ready To Take Drastic Actions

On Thursday March, 13 the US dollar increased vs. the euro, but decreased vs. the yen and major commodity currencies amid strong US data. The euro dropped after Draghi

The UK Unemployment Rate Dropped to Almost 5-years Low

On Wednesday the US dollar increased vs. the Canadian dollar and the yen amid finished meetings of the Bank of Canada and Japan...

The US dollar Continued to Fall

On Monday the US dollar was traded with fall Vs the most major currencies after the release of weak Non-Farm Payrolls, but rose Vs the pound, and almost didn


Canadian Economic Growth Rate Exceeded the Expectations

This Monday the US dollar was traded with slight decrease Vs most major currencies amid weak US macro statistic data. The data of consumer confidence and personal income appeared to be worse than expected...

Euro-Zone Manufacturing PMI Reached 31-Month High

The US dollar fell slightly on Monday Vs the euro and the yen and almost did not change Vs the pound and commodity currencies amid contradictory statistics...

The Euro Has Been Growing for 6 Days in a Row

The US dollar was traded downwards on Tuesday Vs most major currencies before the FOMC meeting next week where a decision on QE tapering may be made but anyway it will be probably small, which is unlikely to support the dollar...

  


Share: