Macro events & news for January 05, 2016

January 5, 2016

FX News Today

The dollar was mostly higher with a bit of a safe-haven money flowing into the USD as geopolitical tensions and a slowdown in China’s economic expansion on Monday, contributed to the 7% sell off in Asian stock markets at the start of the new year. The global stock market sell-off spill over into the European and the U.S. stock markets with U.S, markets preforming better than European equities. However, in overnight Tuesday trading, Chinese stocks traded back from session lows, after the Shanghai Comp tumbled over 3% at the open before reversing back into the green, as officials came in to inject cash into the banking system via a $20 bln open market reverse repo operation to ensure liquidity while also reportedly intervening to support the yuan.

Yesterday, The EURUSD fell to one-month lows near 1.0780 before buyers moved in to support prices; the USDJPY broke below the 118 handle before rallying to 119.70. Meanwhile, the GBP touched close to multi-month lows of 1.4660, and the USDCAD pulled back early on higher oil prices, however, the USDCAD rallied back over 1.3980 when crude Oil prices failed to retain gains.

Monday U.S. data was not uplifting, as both manufacturing ISM and construction spending both missed expectations. The U.S. calendar is thin today, featuring December auto sales and weekly chain store data. The Canadian calendar has industrial product price index for November while the European calendar has U.K. Construction PMI, Italy HICP, Spain unemployment.

Main Macro Events Today

EUR German Unemployment: Yesterday’s PMI readings confirmed that growth is broadening and the improvement is also helping the labor market across the Eurozone and analyst are looking for a fresh decline in German jobless numbers of 5K (median -8K), which should leave the December jobless rate steady at a very low 6.3%.

EUR Preliminary December Inflation: Preliminary December inflation numbers for Italy and the Eurozone. The Spanish reading last week came in higher than expected, while the German HICP, released yesterday, unexpectedly fell.

GBP PMI Construction: Analyst forecast a 56.0 reading up from the previous 55.3.

Publication source
HotForex information  HotForex reviews

October 21, 2016
Gold prices drop in Asia amid stronger greenback
On Friday, gold dropped during Asia trade amid a strengthening greenback as well as surging chances of a rate hike weighing on the hedge commodity...
October 21, 2016
ECB holds the rate unchanged with the pressure on Draghi
After a brief upturn seen in the late Asian trading, the currency retreats to the Wednesday close showing a tepid response to the ECB policy update. The New York FED leader William Dudley comments offered a support to the Dollar rally although the focus remained on the US inflation...
October 21, 2016
EURGBP Tests Major Support
This morning we saw the release of German PPI YoY and MoM figures for September. The former fell to -1.4%, compared to expectations of -1.2%. The latter was -0.2%, in line with expectations...

OANDA Rating
FxPro Rating
Grand Capital Rating
FXTM Rating
HotForex Rating
FIBO Group Rating

Anyoption Rating
OptionBit Rating
Empire Option Rating
OptionFair Rating
365BinaryOption Rating
Banc De Binary Rating