Weekly Fiscal & Political Outlook
The Week ahead is likely to be similar to the previous week when comparing volume and possible effects of event risk. We’ll get a good deal of important U.S. economic data which would include the all-important #Non-farm Payrolls, along with the monthly statements from the apex banks regarding the #GBP and the #AUD. With an increasing number of apex banks nodding for an easing instead of tightening of monetary policy, any comparable nods this week could be the basis for further sway in the #Forex market.
United States Dollar
The U.S. dollar would experience a busy week as we start off on Monday with the ISM Manufacturing PMI. The release of the #ADP Non-Farm Employment Change will hit the scene on Wednesday, alongside the Crude Oil Inventories and the #ISM Non-Manufacturing PMI. The Unemployment Claims is billed for Thursday, while the all-important Non-farm Employment Change is due Friday, along with the Unemployment Rate and Average Hourly Earnings numbers.
The week would be a crucial one for the Sterling considering Thursday’s release of Bank of England’s #Monetary Policy Summary, Inflation Report, Official Rate and MPC Votes. Earlier in the week, traders will watch closely the release of the #Manufacturing PMI number on Monday, Tuesday’s Construction #PMI and Wednesday’s Services PMI numbers.
The Canadian dollar has nothing up until Friday’s all-important release of the Employment Change, Unemployment Rate data and the Trade Balance.
The Chinese Manufacturing PMI data is billed for Monday.
At #CSFX we are predicting a calm week for Euro, but the ECB President is billed to testify before the European Parliament on Monday. Draghi will also be a guest speaker at a public lecture on Thursday.
The New Zealand dollar is expected to have a busy week, although all its economic releases such as GDT Price Index, Employment Change and Unemployment Rate data are due on Tuesday. While the Governor of the Reserve Bank of New Zealand is due to speak later on that day.
Traders will be looking out for the Reserve Bank of Australia’s Monetary Policy Statement and Retail Sales numbers on Friday. Tuesday is billed to witness the release of the #RBA Rate Statement and the Cash Rate.
The Japanese #Yen seems to be relatively quiet, but the Governor of the Bank of Japan is billed to speak on Wednesday.