Macro events & news for December 02, 2015

December 2, 2015

FX News Today

The USD traded mostly softer in Monday trade losing some ground following the November ISM missed expectations, while the U.S. stock market rallied in response to the weakness in the ISM index. The November figure dropped to 48.6, below the 50 break-even for the first time since 2012, and is the lowest since 2009. The November U.S. ADP employment survey will be the key event today, while the main market focus will be the scheduled speech from Fed Chairwomen Janet Yellen. However, the Fed Chairwomen will not commit to any specific timing on any interest rate hike, especially ahead of Friday’s jobs report and the FOMC meeting.

Notable U.S. Fed speak from Chicago Fed voter Evans reiterated that he favors later liftoff than his peers and that a gradual pace of hikes is required given downside inflation risks. He thinks it may be appropriate for rates to be below 1% by the end of 2016. He is not optimistic on a quick pick up in inflation as he judges core inflation will be just under 2% by the end of 2018. This is probably the most likely scenario.

The European calendar has prelim Eurozone Nov HCIP, and PPI, UK construction PMI, the main focus will be on the preliminary Eurozone HICP reading for November. The German and Spanish inflation ticked higher, and if confirmed, a 0.3% y/y reading in the overall Eurozone number would still be higher than the 0.2% y/y reported for October. This would then confirm the uptrend that has been visible in the last couple of months. EU core inflation also has been trending higher.

Main Macro Events Today

• AUD Australia’s Q3 GDP: grew 0.9%on a real basis (q/q, sa) , slightly better than expected after a revised 0.3% gain in Q2 (was +0.2%). But it was largely an exports story, as shipments abroad surged as projected, rebounding 4.6% in Q3 after port closures in Q2 held back shipments abroad. Exports fell 3.3% in Q2. Household spending grew 0.7% in Q3. Non-dwelling construction fell 5.3% while M&E investment dropped 4.6%, consistent with an ongoing drag from the resource sector. Governor Stevens said the result was “not a bad outcome.” He said ongoing moderate growth remains their projection for Australia’s economy.

• EUR Eurozone Nov Inflation: EU core inflation has been trending higher and the ECB’s preferred gauge for inflation expectations, the five year, five year break even rate has moved above 1.80%. November Eurozone HICP today (a rise to 0.3% y/y is expected after October’s 0.2%).

• USD The November ADP: private employment survey is expected to show a 190k increase in jobs.

• CAD Interest Rate Decision: rate seen unchanged at 0.50%

Publication source
HotForex information  HotForex reviews

October 24, 2016
Dollar at a 3-week winning streak
The US dollar completed three weeks of back to back gains with the US dollar index seen trading above the 98.55 handle. Without any pullback so far, further upside could come at a significant risk...
October 24, 2016
Golden week for dollar but USD/JPY bucks trend
It has been a very good week for the US dollar and a really bad one for the euro and Canadian dollar, among others. The rally has lifted the Dollar Index to its highest level since early February and possibly on course to 100...
October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...

Vantage FX Rating
FBS Rating
Grand Capital Rating
Orbex Rating
Tickmill Rating
OctaFX Rating

EZTrader Rating
Anyoption Rating
TropicalTrade Rating
IQ Option Rating
Empire Option Rating
Beeoptions Rating