News of the day. Wednesday 18.11.2015

November 18, 2015

Today, the main suppliers of macroeconomic data are going to be Switzerland, Canada and the US. At 12:00 pm (GMT+2), November’s ZEW Survey Expectations is due in Switzerland that serves as an indicator of economic optimism and measures the ratio of optimists and pessimists in business community. The indicator has been growing or three months already and its further increase will strengthen the CHF against major counterparts.

The US releases its construction sector statistics for October at 3:30 pm. According to the forecasts, the number of Housing Starts will decline from 1.206M to 1.160M. At the same time, the number of Building Permits will grow from 1.105M to 1.150M that suggests improvements in the US construction sector in the next month as it takes time to start any construction work after a building permit has been issued. In general, the indicators are likely to counterbalance each other, thus, the USD will not be under significant pressure.

The most important news of the trading day is due at 8:00 pm, when FOMC Minutes are published. They will give account of the discussion process and shed light on the future US monetary policy, therefore, the volatility in the USD may be raised.

Japan releases its Trade Balance, Exports and Imports statistics on Thursday night, at 01:50 am. Analysts expect that, in annual terms, Exports will decline by 2.1% after a 0.6% growth in September. Imports will be down by 8.6%, while the indicator fell by 11.1% in the previous month. Thus, trade deficit will deepen and reach ¥292.0B. Negative statistics will strongly affect the Japanese currency.

The Bank of Japan publishes its interest rate decision at 05:00 am. The BoJ is unlikely to change its interest rate which has been kept at the level of 0.1% for several years.

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