Economic calendar is relatively light

15 January, 2018

Today is Martin Luther King’s Birthday, which is a Bank Holiday in the United States. As a result, the Economic Calendar is relatively light today.

US Federal Reserve Bank of Boston President Rosengren spoke from San Diego. He made comments about Fed policy and how the policy framework should be updated. He said that further drops in the Jobless rate risk undermining recovery. He also spoke about inflation and said that the Fed could set medium-term goals and inflation ranges, and sited the benefit of targeting the 1.5% to 3.0% inflation range. He laid out the case for the Fed to switch to an adjustable inflation goal within a fixed range. He said that a low and fixed inflation target is a potential problem but lower than expected inflation is not a problem near-term.

French Consumer Price Index (EU Norm) (YoY) (Dec) was released on Friday, coming in at 1.2%. The number was expected to be unchanged at 1.3%.

US Retail Sales (MoM) (Dec) were released as expected at 0.4%, from 0.8% previously, which was revised up to 0.9%. Retail Sales ex Autos (MoM) (Dec) came in as expected at 0.4%, from 1.0% previously, which was revised up to 1.3%. Retail Sales (Dec) Control Group was 0.3% v an expected 0.4%, from 0.8% prior. Consumer Price Index (YoY) (Dec) was as expected at 2.1, from 2.2% previously. Consumer Price Index Ex Food & Energy (YoY) (Dec) was 1.8% v an expected 1.7% and 1.7% prior. Consumer Price Index Ex Food & Energy (MoM) (Dec) was 0.3% v an expected 0.2%, from 0.1% previously. EURUSD fell from 1.21482 to 1.21120 after this data release.

German Buba President Weidmann spoke at the Ludwig-Erhard summit, in Bavaria on Friday. He said that announcing the end date of QE is justifiable and that full policy normalization would be a long path. He also said that the imminent risk of a change in rates was currently low and that price trends were in line with goals. EURUSD fell from a high of 1.21534 to 1.21216 when the comments were made.

The Baker Hughes US Rig Count number was released with the headline number coming in at 752. The prior number last Friday showed that there were 742 Oil rigs in operation.

  • EURUSD is up 0.09% overnight, trading around 1.22140.
  • USDJPY is down -0.15% in early session trading at around 110.830.
  • GBPUSD is up 0.15% to trade around 1.37481.
  • USDCAD is down -0.07%, trading around 1.24473.
  • Gold is up 0.33% in early morning trading at around $1,342.02.
  • WTI is unchanged this morning, trading around $64.35.

Major data releases for today:

  • At 07:45 GMT, Eurozone Trade Balance n.s.a. (Nov) will be released. The expected number is €28.2B from €18.9B prior. Eurozone Trade Balance s.a. (Nov) is expected to be €22.3B v €19.0B previously. EUR pairs will be influenced by this data point.
  • On Tuesday at 09:30 GMT, UK Consumer Price Index (YoY) (Dec) is expected out at 3.2% v 3.1% previously. GBP crosses could be moved by this and other data released at this time.
  • On Wednesday at 10:00 GMT, Eurozone Consumer Price Index (YoY) (Dec) will be released. 1.4% is the consensus number from 1.4% previously. Consumer Price Index – Core (YoY) (Dec) is expected to be unchanged at 1.1%.
  • At 15:00, Bank of Canada will release their Interest Rate Decision and Rate Statement. It is expected that the rate will be 1.12% from 1.00% previously. The Monetary Policy Report will also be released at this time, followed by a Press Conference at 16:15 GMT.
  • On Thursday at 00:30, Australian Unemployment Rate s.a. (Dec) will be released with the consensus pointing to an unchanged value of 5.4%. Participation Rate (Dec) is expected at 65.4% v 65.5% previously. Employment Change s.a. (Dec) is expected at 24.9K v 61.6K prior.
  • At 02:00 GMT, Chinese Gross Domestic Product (YoY) (Q4) will be released. The previous number was 6.8%. Chinese Gross Domestic Product (QoQ) (Q4) was 1.7% in Q3.

Source link  
Equity market causes investors confusion

As a turbulent December in equity markets draws to a close, there's one thing traders and investors can agree on: these are not usual times, especially...

Global debt exceeded $ 184 trillion

According to the International Monetary Fund (IMF), the global debt has achieved $184 trillion with $86,000 per person, a figure that is twice larger than...

Why U.S. markets are under pressure

Global markets are on the rise on Wednesday, adding more than 1.2% on the MSCI Asia ex Japan index. Japanese Nikkei jumped by 2%. Chinese...


Dow recovers after 500 points decline

Stocks closed higher Monday as major indexes bounced back from earlier losses as renewed confidence in the strength of the U.S. economy offset lingering...

Pound rallied, stocks declined

The U.K. main stock index closed lower Thursday, weighed down by weakness for resource stocks and banks and a strong pound as the outline of a key agreement...

Oil slips as U.S. inventories swelled

Oil prices slipped on Thursday after U.S. crude inventories swelled to their highest level since December 2017 amid concerns of an emerging global glut, although...


Crude's Collapse Is Sending Shockwaves

Investors have gone from contemplating the prospect of oil at $100 to sub-$50 in less than two months. No wonder global markets are playing catch-up....

Dollar growth pushed down stock indices

Monday was a hard day for the financial markets. American DJI lost more than 2.3% and S&P500 decreased by 2.0%. As in previous weeks, the main pressure...

U.S. stocks recover after elections

Preliminary estimates of the U.S. election results support a positive mood on the world markets, reducing the demand for protective assets and causing...


In the past 24 hours Bitcoin has lost -2.26% and reached $3628.00864379. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 1.5351% and is now at $1.1563. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -19.95% and is now at $121.457462401. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2019

# Broker Review
1easyMarketseasyMarkets91%
2FXTMFXTM87%
3HYCMHYCM86%
4FxProFxPro84%
5FIBO GroupFIBO Group83%
6OctaFXOctaFX82%
7HotForexHotForex81%
8FXCMFXCM80%
9XMXM72%
10FP MarketsFP Markets69%
  


Share: