Add a comment
Weekly Analysis and Recommendation:
The EUR/USD ended the week a bit weaker after climbing to trade at 1.3324 the pair closed the week, at 1.3297. The US Census Bureau reported that although monthly retail sales were up modestly in August, they were lower than expected. Auto sales rose nearly 1% in August, but consumers cut back at other retailers, including clothing and sporting goods stores. Fueled by higher gas prices, producer prices rose more than expected, while the University of Michigan’s reading of consumer confidence fell to its lowest level since April.
Despite the weaker reports, many investors still think that the Fed will decide to begin scaling back its quantitative easing program at a meeting next week. The Fed’s bond buying drive has helped push stocks to record highs, and investors have worried that any sort of “tapering” will deflate the markets.
European data risk will be generally subdued. Norges Bank issues a rate decision Thursday, Germany releases its ZEW investor expectations survey that has been trending around a top for months and trade data arrives for the Eurozone. The euro-dollar rate was stable on Friday, days before the US Federal Reserve is expected to begin cutting its US$85 billion stimulus in recognition of a strengthening US economy. Despite the prospects for less easy money flooding into the US economy, the euro held onto its recent gains, supported by rising confidence in Eurozone growth.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Major Economic Events for the week of September 9-13 actual v. forecast for Euro, GPB, the Franc, and USD
Chinese Fixed Asset Investment (YoY)
Chinese Industrial Production (YoY)
French Non-Farm Payrolls (QoQ)
Historical: From 2011 to Present
Highest: 1.4577USD on Jul 03, 2011
Average: 1.3165USD over this period.
Lowest: 1.2041USD on Jul 24, 2012
Economic Highlights of the coming week that affect the Euro, GBP, CHF and the USD
Government Bond Auction
Date Time Country
Sep 16 09:00 Slovakia
Sep 16 09:10 Norway
Sep 17 08:30 Spain
Sep 17 09:30 Belgium
Sep 18 09:10 Sweden
Sep 18 09:30 Germany
Sep 18 09:30 Portugal
Sep 19 08:30 Spain
Sep 19 08:50 France
Sep 19 09:30 UK
Sep 19 09:50 France
Sep 19 15:00 US
Sep 19 17:00 US
Sep 20 15:30 Italy
No comments:
Post a Comment