Weekly Outlook 7th - 11th of August, 2017
Weekly Outlook 7th of August – 11thof August 2017
Maximusfx.com Weekly Outlook – The US dollar strengthened highly against a list of major currency pairs on last Friday, upon stable US job reports for July as well as indications by a Trump administration on tax reform.
The report illustrated accordingly 0.3% rise last month on average hourly earnings as the largest monthly increase since October.
The Dollar boosted upon Gary Cohn, leader of the White House National Economic Council claim for tax reform on interview.
There was a significant rise on US dollar currency pair against Japanese Yen last Friday, USD/JPY at 110.69 up 0.6% for the day upon increasing as high as 111.04 previously.
The US dollar has faced a pressure in recent weeks among dilemma over if the Federal Reserve would hike the rates again this year and moderated hopes for tax reform and fiscal stimulus under the current President of the US administration.
The Euro currency pair fall to lower level against the dollar, with EUR/USD catching lows of 1.1770. The euro currency pair has weakened 0.83% and up to date for the year driving it the best accomplishment major currency against the dollar.
US dollar against Great Britain Pound weakened to 1.3042 with 0.73% drop off on last Friday.
Investors in the financial market turn their attention to a greater chance of a forthcoming illustration of Friday`s US inflation figures to measure if the economy is stable sufficiently for the Federal Reserve to stay same on its projected narrowing way.
In the meantime, recent economic illustrations show that show ups of a list of Federal Reserve speakers stay on attention.
Here is the weekly outlook in the financial market by Maximusfx.com categorized as a list that could cause major volatility across currencies
7th of August, Monday
New Zealand is to announce reports on inflation expectations.
Switzerland is to report on inflation data
The UK is to release an industrial report on house price inflation
Canada banks are closed due to a holiday.
Federal Reserve Speakers are to speak in New York
8th of August, Tuesday
Australia is to announce on a report on business confidence
China is to report its final trade figures
9th of August, Wednesday
China is to announce reports on inflation data
Canada is to report on building permits
The US is to release on non-farm productivity and labor costs
10th of August, Thursday
Bank of New Zealand is to release Interest rate and monetary policy decision.
The UK is to illustrate on manufacturing manufacture and trade
Canada is to announce data on new house price inflation
The US is to review reports on initial jobless claims and manufacturer prices.
New York Fed President is to speak on wage variation in the region
11th of August, Friday
Japan banks are closed due to a holiday
Dallas Fed President is to speak and data release on consumer price inflation
Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.