Weekly Outlook 2nd - 6th of October 2017

2017-10-02

Weekly Outlook 2nd – 6th of October 2017

Maximusfx.com Weekly Outlook – There was a slight change on US dollar against a list of major currency pairs on last Friday, even though US economic reports,  illustrated results poorer results than expected and initial monthly gain since 7 months.

According to economist’s expectation, figures on US Consumer Spending hardly rose in August, the released report was counterbalance via further data illustrating an unexpected rise in the institute for supply management`s Chicago PMI.

The dollar had acknowledged an acceleration earlier in the week upon FED Chair Janet Yellen showed that the central bank was to put in priority according to a plan for a third hike this year and three in 2018.

This in turn would encourage US dollar gain strength and US assets would be more attractive to yield-searching investors.

There was slight bullish on US dollar currency pair at 0.18% to 112.49 against Japanese Yen last Friday, USD/JPY.

The Euro currency pair declined to higher level against the dollar, with EUR/USD reaching lows of 1.1818. The euro currency pair has weakened 0.26%.  Bearish momentum has been pressured on euro by the fears that political undefined path Germany could beat the euro zone`s economy and drive closer euro zone incorporation further challenged.

Investors in the financial market turn their attention to a greater chance of a forthcoming illustration of FED`s Chair Janet Yellen for further tips on the period of the following rate hike and Friday`s Non-farm payroll and jobs report will be in focus.  

In the meantime, recent economic illustrations of ECB President Mario Draghi and UK PMI data will offer more details into the influence economically via Brexit will be closely in watchlist.

Here is the weekly outlook in the financial market by Maximusfx.com categorized as a list that could cause major volatility across currencies QE policy.

2nd of October, Monday

Financial Markets in China will be closed due to a holiday

Japan is to report data on manufacturing and non-manufacturing indexes.

The UK is to release data on manufacturing activity.

In the US the Institute for Supply Management is to report its manufacturing index

FED Dallas President is to give a speech

3rd of October, Tuesday

Financial Markets in China will be closed due to a holiday

Australia is to announce data on building approvals

RBA is to announce interest rate decision

The UK is announced data on construction activity

Financial Markets in Germany will be closed due to a holiday

Fed Governor Jerome Powel is to give a speech in event in Washington

4th of October, Wednesday

Financial Markets in China will be closed due to a holiday

The UK is to announce data on service sector activity

The US is to release data on ADP nonfarm payrolls

ECB President Mario Draghi is to give a speech in Frankfurt

Fed Chair Janet Yellen is to give a speech in St. Louis

5th of October, Thursday

Financial Markets in China will be closed due to a holiday

Australia is to announce data on retail sales and the trade balance

The ECB is to report the minutes of its meeting

Canada is to announce data on the Trade Balance

The US is to release a string of reports, involving jobless claims, trade, factory orders

Fed Governor Jerome Powel and Philadelphia Fed President Patrick Harker are to give a speech

6th of October, Friday

Financial Markets in China will be closed due to a holiday

The UK is to release private sector data on house price inflation

Canada is to publish its monthly employment report along with the Ivey PMI

The US is to illustrate the week with the non-farm Payrolls report for September

New York Fed President William Dudley and Dallas President Robert Kaplan are also on speech

 

 

Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.