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> WEEKLY MARKET SNAPSHOT 04-08/12
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WEEKLY MARKET SNAPSHOT 04-08/12

FXCC - FX Central Clearing LTD

Disclaimer

WEEKLY MARKET SNAPSHOT 04-08/12
Australia and Canada’s interest rate decisions and NFP jobs data are the key economic calendar events over the coming week.

Monday starts the week’s economic calendar news with the monthly dairy auction results from New Zealand,and as attention turns to Europe, the latest UK construction PMI will be delivered, coming in at 50.8 for October, that’s only marginally above the 50 level separating growth from contraction.

Australia’s central bank will reveal its latest interest rate decision on Tuesday, with opinion finely balanced with regards to a rise or reduction, this economic calendar release will be closely monitored, as will be any accompanying, forward guidance explanation from the RBA, regarding their monetary policy. The Aussie dollar has sold off sharply versus the USD since mid September, and versus its peers during a similar period. Canada’s central bank will also deliver its latest decision on its key interest rate, similar to the Aussie, the loonie currency, has sold off sharply versus its main peers since September, as a commodity currency, the sell off can’t exclusively be linked to the rise in the value of commodities over recent months.
The latest USA monthly NFP figure will be published on Friday, revealing the latest job creation figures for November. The September and October figures were effected by the severe hurricane season in the USA, as to why a low figure for November is forecast by Reuters is curious, a figure of 198k, versus the 261k recorded for October, appears to be pessimistic, particularly in a month when service and retail business should be gearing up for Xmas seasonal activity.

Visit https://blog.fxcc.com/?p=18656 to read the full Weekly Market Snapshot analysis

FXCC - FX Central Clearing LTD. Review

Source: https://blog.fxcc.com/?p=18656
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