Weekly Outlook 25th -29th of September, 2017


Weekly Outlook 25th – 29th of September 2017

Maximusfx.com Weekly Outlook – The US dollar against Japanese Yen strengthened significantly due to political pressure on the Korean Peninsula for the Japanese Currency.

There was slight bearish momentum on US dollar currency pair against Japanese Yen last Friday, USD/JPY at 111.98 and receding from Thursday`s 2-month high of 112.70.

The Japanese yen obtained strength upon North Korea claim on Friday it could possibly practice a hydrogen bomb over the Pacific Ocean after US President endangered to ``entirely abolish`` the country if the US was enforced to defend.

The dollar gained the highest level since July against Japanese yen on last Thursday upon Bank of Japan remained monetary policy same. Further bullish momentum was also motivated via the Federal Reserve`s policy statement on Wednesday that demonstrated that it is still on right path to hike further interest rates in December.

The Euro currency pair raised to lower higher against the dollar, with EUR/USD reaching high of 1.19570.

The individual currency gained the day`s highs after healthy economic data out of the euro area pinned hopes for narrow monetary policy from ECB.  

Great Britain remained weak after a speech by British Prime Minster Theresa May indicating path on how Brexit will progress further. Thus, Sterling was weaker against the US dollar with GBP/USD down at 1.3509 within last week.

Investors in the financial market turn their attention to a greater chance of a forthcoming illustration of Fed Chair Janet Yellen speech as expectations start rising for a December rate hike.

In the meantime, recent economic illustrations progress in the speeches of ECB President Mario Draghi as well as from chairs of central banks in the Canada, UK and Japan on attention list.

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

25th of September, Monday

Bank of Japan Governor is to give a speech at an event in Osaka.

The Ifo Institute is to provide date on German Business Climate

New York Fed President is to swear about the economy in the European Parliament in Brussels

26th of September, Tuesday

Minneapolis Fed chief is to give a speech

New Zealand is to announce data on business confidence

The US is to release data on consumer confidence and new home sales

Later in the day, Fed Chair Janet Yellen is to give a speech

27th of September, Wednesday

The US is to announce data on durable goods orders and pending home sales

Bank of Canada Governor is to give a speech

28th of September, Thursday

The RBNZ is to release data on its benchmark interest rate

Germany is to announce data on primary inflation figures

BoJ Governor is to give a speech

BoE Governor is to provide speech

The US is to announce data on final figures of second quarter progress and jobless claims

29th of September, Friday

China is to report data on its Caixin manufacturing PMI.

Germany is to announce reports on retail sales.

The UK is to report figures on the current account and a final estimate of 2nd quarter growth

The euro zone is to report inflation figures

Canada is to announce data on economic developments for July

The US is to announce data on personal income and spending and metric for inflation and data on manufacturing activity

ECB President is to deliver a speech in London




Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.