Weekly Outlook 4th - 8th of September
Weekly Outlook 4th – 8th of September 2017
Maximusfx.com Weekly Outlook – The US dollar gained bullish impetus against a list of major currency pairs on last Friday, even though US jobs report illustrated results poorer results than expected that triggers skepticism through probability of a following rate hike via Fed in this year.
According to Economists expectation, figures on unemployment rate was to be at 4.3% adding 180,000 jobs up, while results hit 156,000 added new jobs and unemployment rate picked up 4.4%.
The report illustrated according to current Federal Reserve is likely to hike interest rate once again before the year ends. Failure on expectations of 3rd rate hike in this year has put pressure on the US dollar through driving US assets less attractive to yield searching stakeholders.
There was slight bullish on US dollar currency pair at 0.84% against Japanese Yen last Friday, USD/JPY after reaching low of 109.56.
The Euro currency pair declined to higher level against the dollar, with EUR/USD reaching lows of 1.1859. The euro currency pair has weakened 0.41%. Bearish momentum has been affected upon 6 months of gain and stakeholders are paying attention on ECB meeting, to get data of policymaker’s currency strength discussions.
Expectations that ECB will soon declare projects to taper its asset-purchase stimulus program have motivated the euro up around 12% against the dollar.
Investors in the financial market turn their attention to a greater chance of a forthcoming illustration of Thursday`s ECB meeting for fresh signs on when the central bank will move away from its
In the meantime, recent economic illustrations of US data on service division developments will be the high spot of the holiday-shortened week.
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.
4th of September, Monday
The UK is to announce data on construction activity.
Financial Markets in the US and Canada are closed for the Labor Day holiday.
5th of September, Tuesday
The Reserve Bank of Australia is to release its benchmark interest rate and report a rate statement that indicates economic circumstances and factors influencing on the monetary policy decision.
Switzerland is to report inflation data
The UK is to announce a data on factory orders
Fed Governor is to give a speech in New York
6th of September, Wednesday
Australia is to announce data on following quarter economic progress
Canada is to report on the trade balance and labor productivity
The Bank of Canada is to release data on its benchmark interest rate and rate statement
The US is to report data on the trade balance and ISM to report on manufacturing index.
7th of September, Thursday
Australia is to announce report on retails sales and the trade balance
The UK is to report data on house price inflation
The ECB is to report its up to date monetary policy decision and President Mario Draghi is to hold a press summit.
The US is to illustrate figures on initial jobless claims.
8th of September, Friday
China is to indicate data on the trade balance
The UK is to announce data on manufacturing production and the trade balance
Canada is to report date on monthly employment report.
Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.