Weekly Outlook 4th-8th of December, 2017


Last week the EUR/USD pair could not fix above the 1.18 mark, gives signals on trend for the dollar rise this week. Meanwhile, the U.S. Senate voted 52 to 48 to the tax bill passed through the House of Representatives. The President of the United States declares its readiness to sign any of the bills the tax reform which will be approved by Congress. From any point of view - it will be positive for the dollar.

ECB representatives gave a positive assessment in the European economy - Jens Waldman, who is prophesied to replace Mario Draghi, stated that many short-term indicators of the economy of the Eurozone showed positive dynamics. On the other hand, it was reported that the prospects for inflation are a cause for concern, as sufficient resources and ways to stimulate, inflation Data in the Eurozone came in much weaker than expected in November and the core index remained at 0.9 vs 1.0 expected, the total increased to 1.5 if the forecast is 1.6.

In the Monday meeting of the Eurogroup on the "Brexit" and the meeting will be Prime Minister Theresa may with European Commission President Jean-Claude Juncker, which will continue the discussion of the terms of "Brexit". which in turn will affect all the cross of the British pound.
Oil last week rose significantly to 63 dollars per barrel Brent. The main factor of growth was the meeting of OPEC where he took the decision on the agreement on further freezing of oil production for the next year.

This week the focus of investors will be riveted by Friday 8 December. The day begins with the publication of data on Japan's GDP for the 3rd quarter on a quarterly and annual basis. This is followed by the report on industrial production and trade balance the UK in October. And in the evening released data from the Labor Department, U.S. employment in November, the expected rise in unemployment to 4.3%.

We present to Your attention a number of news, which in the opinion of the team of analysts of our company will have a significant impact on the volatility of the market this week.


Monday 4 December

Japan - consumer confidence indicator, published by the Cabinet of Ministers of Japan and a measure of mood and the degree of citizens ' confidence in the economy
United Kingdom - the Index of business activity in the construction sector, a Eurogroup meeting on "Brexit"
Eurozone - producer price index annual and monthly basis.


Tuesday, 5 December
The reserve Bank of Australia (RBA) will decide on interest rates. We believe that the RBA will keep interest rate unchanged at the level of 1.5%. The market also expects interest rates on "green continent" will again remain unchanged.
Eurozone - Core and composite indices of business activity in the services sector.
Canada - international trade Statistics goods
USA - the Basic and the composite index of business activity in the services sector.


Wednesday 6 December
Australia - Gross domestic product for the 3rd quarter in the quarterly and annual estimates
Eurozone - the ECB meeting
Switzerland - consumer price index
The Bank of Canada will decide on interest rate.
the evening will be a published report of energy U.S. commercial inventories of crude oil and petroleum products.If oil reserves decline, it may shift the price of oil to $64 per barrel. Oil prices since the beginning of November did not fall below level of $60 per barrel.


Thursday 7 December
Japan - Investment in foreign bonds, Foreign investments in Japanese stocks, foreign exchange reserves of Japan.
Australia - trade balance, a report on import and export.
Data on GDP of Eurozone for the III quarter of 2017 on a quarterly and annual basis.


Friday 8 Dec
Japan - Japan's GDP for the 3rd quarter on a quarterly and annual basis.
UK - report on industrial production and trade balance
USA - unemployment data and the number of jobs created in the non farm sector