Weekly Outlook 28th of August - 1st of September, 2017
Weekly Outlook 28th of August – 1st September 2017
Maximusfx.com Weekly Outlook – The US dollar weakened against a list of major currency pairs on last Friday, upon speeches made by global central bank officers, dollar grasped its lowest level against euro in over 2 years.
The speech illustrated according to current Federal Reserve Chair Janet Yellen at the economic symposium created no reference to monetary policy, depressing majority investors whom put optimism that Janet Yellen would sound an aggressive tone.
Lower interest rates characteristically weight on the dollar through encouraging US assets less attractive to yield searching stakeholders.
There was slight bearish on US dollar currency pair at 0.17% against Japanese Yen last Friday, USD/JPY at 109.36.
The Euro currency pair raise to higher level against the dollar, with EUR/USD reaching highs of 1.1941. The euro currency pair has strengthened 1.06%. Meanwhile the currency pair of EUR/GBP was higher stabilizing 0.42% to 0.9257, reached peak level since October 2009.
The euro currency pair illustrated its following consecutive weekly strength over the pound rising 8% reflecting growing outlook for the euro zone and the UK and its consequences for monetary policy. However, last Friday Great Britain Pound against dollar, illustrated a rise 0.61% to 1.2878 recovering from Thursday`s 2-month depressions.
Investors in the financial market turn their attention to a greater chance of a forthcoming illustration of Friday`s US jobs statement for August to measure consequences of Fed Policy Plan`s impact.
In the meantime, recent economic illustrations of US data of review on second quarter growth in the spot and meanwhile euro zone primary inflation forecast will also be in attention.
Here is the weekly outlook in the financial market by Maximusfx.com categorized as a list that could cause major volatility across currencies
29th of August, Monday
Financial Markets in the UK are closed for a holiday
29th of August, Tuesday
Canada is to illustrate data on raw materials
The US is to announce data on consumer confidence
30th of August, Wednesday
Australia is to announce data on building approvals and finished construction project
Germany is to reveal primary inflation data
The UK is to indicate data on net private loaning.
The US is to announce the ADP non-farm payrolls and Reviewed data on 2nd quarter growth
31st of August, Thursday
China is to indicate survey data on activity in the manufacturing and services industry
New Zealand is to report on business confidence
Australia is to report data on private capital spending
Euro zone is to illustrate its primary inflation forecasts
Germany is to indicate data on retail sales
Canada is to announce monthly GDP growth data
The US is to show up a twine of data, including reports on jobless claims, personal income and spending and pending home sales.
1st of September, Friday
China is to announce its Caixin Manufacturing PMI
The UK is to announce data on manufacturing activity
The US is to announce non-farm payrolls report for August and the ISM is to report manufacturing index.
Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.