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US and Canadian GDP data, US Durable Goods Orders and Unemployment claims are the final highlights before Christmas break. Here is an outlook on these major events. Last week the Federal Reserve hiked interest rates for the first time in nearly a decade showing faith in the U.S. economy. The central bank raised interest rates by a quarter of a percentage point to between 0.25% and 0.50. Policy makers reiterated that the US economy is performing ...
USDJPY to rise towards our end-2016 target of 134 - BNP Paribas "The Bank of Japan maintained its annual monetary base expansion target of JPY 80trn, but outlined some changes to the composition of purchases.""The BoJ extended the average maturities of JGBs it buys to 7-12 years (from 7-10 currently), announced JPY 300bn of additional ETF purchases and increased the maximum amount of each REIT issue it can buy to 10% from 5% currently." ...
The US dollar was pressured against most currencies in a week that saw very unsettled stock and commodity markets. On the agenda we have German Economic Sentiment, UK employment data, US housing and inflation data, and the highly important FOMC decision which is dubbed as historic. These are the market movers for this week. US Consumer confidence rebounded, rising to 91.8 in December, the highest level in four months amid positive views on ...
US Dollar Forecast – US Dollar Fundamentally Moored Until Fed or Fear Decides Its Fate A lot has changed for the Dollar this past week. British Pound Forecast – British Pound Shows Signs of Life – Next Week Could be Big A volatile week of FX trading pushed the British Pound to fresh six-month lows versus the US Dollar, but a late reversal suggests that the GBP/USD ‘Pounding’ may soon come to an end. ...
SNB, BoE, RBNZ, EUR Correction, Don't Sell CHF For Now What we’re watching: FX Focus – Don’t sell the franc…for now: unstable risk sentiment and limited scope of the SNB turning more aggressive next week may trigger further franc upside risk, in particular versus the AUD. USD– Retail sales will be the last important data release ahead of the December rate announcement.GBP – A reiteration of the dovish language from the last inflation report as part ...
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