News of the day. Tuesday 01.12.2015

December 1, 2015

Today, traders will be turning their attention to news from Switzerland, Germany, the UK, the EU, Canada, the US and Australia. November data on Real Retail Sales is due at 10:15 am (all times stated in GMT+2) in Switzerland. The indicator is expected to grow from 0.2% to 0.4% on an annual basis that can support the Swiss Franc.

At 10:55 am Germany releases a block of macroeconomic data for November, which includes Unemployment Change, Unemployment Rate and Markit Manufacturing PMI. All three indicators are expected to remain unchanged – Unemployment Change at -5K, Unemployment Rate at 6.4% and Manufacturing PMI at 52.6 points. Germany’s unemployment rate remains at 6.4% for quite a long time.

Markit Manufacturing PMI is due at 11:30 am in the UK. Analysts forecast a decline from 55.5 to 54 points. Generally, a result above 50 points indicates favorable economic conditions. Last time, when the indicator fell below the key level of 50 points, was in 2013. Moreover, Financial Stability Report is due at 11:30 am in the UK. The Report shows experts’ assessment of the current financial situation. Depending on the results, this publication can either support or negatively affect the Pound.

The EU releases its Unemployment Rate for November at 12:00 pm. According to the forecast, the indicator will remain unchanged at 10.8%

In the afternoon, market participants will be following news from Canada and the US. Canada’s Gross Domestic Product Annualized for the third quarter is due at 3:30 pm. The indicator is expected to grow from -0.5% to 2.3% that might strengthen the Canadian Dollar for a short period of time. RBC Manufacturing PMI for November is released at 4:30 pm. According to historical data, the Index has been tending to decline since July 2015. Last time, the indicator came in at 48 points that suggests a decrease in the sector. Negative tendency can continue in November as well.

At 5:00 pm, traders will turn their attention to data on ISM Manufacturing PMI and Construction Spending, due in the US. Analysts expect that Manufacturing PMI will grow from 50.1 to 50.3 points, while Construction Spending will decline from 0.6% to 0.5%.

On Wednesday night, at 1:30 am, RBA's Governor Glenn Stevens is giving his speech, which might determine the AUD dynamics. Furthermore, at 3:30 am, Australia releases its GDP statistics for the third quarter. In annual terms, a growth from 2.0% to 2.3% is expected. In quarterly terms, the indicator is forecasted to come in at 0.7% from 0.2% earlier. In this case, the AUD can gain significant short-term support.

Publication source
LiteForex information  LiteForex reviews

December 7, 2016
Will ECB support Italy?
The yield of the Italian sovereign debt fell on Tuesday as the focus moved to the political uncertainty on the market. After Renzi’s crash on the weekend and the expectations of the ECB measures to deal with the possible fallout of the financial markets...
December 7, 2016
WTI bears on the prowl
WTI Crude was vulnerable to sharp losses on Tuesday following reports of OPEC output rising to a worrying record high of 34.19 million barrels per day in November which revived the oversupply concerns
December 7, 2016
CAD claws back ground
The Canadian dollar has finally managed to gain some ground against the strong USD after weeks of the market waiting for it to react to oil prices beginning to show some turn after the recent OPEC agreements...

HotForex Rating
Trade360 Rating
Tickmill Rating
Vantage FX Rating
OANDA Rating
FBS Rating

365BinaryOption Rating
OptionsXO Rating
24option Rating
Empire Option Rating
Banc De Binary Rating
OptionBit Rating