Weekly Outlook: 2017, March 19 - March 26

The US dollar was on the back foot due to the Fed’s “dovish hike”. Will the downfall continue? UK inflation data, Yellen’s speech and Durable goods orders are the major events on forex calendar.

Attachment 26056

1. UK inflation data: Tuesday, 9:30. UK CPI is expected to rise further to 2.1% this time.
2. US Crude Oil Inventories: Wednesday, 14:30.
3. New Zealand rate decision: Wednesday, 20:00. The Reserve Bank of New Zealand maintained its Official Cash Rate unchanged at 1.75% in February.
4. US Unemployment Claims: Thursday, 12:30. The number of new claims is expected to be 240,000 this week.
5. Janet Yellen speaks: Thursday, 13:45. Federal Reserve Chair Janet Yellen will speak in in Washington DC.
6. US Durable Goods Orders: Friday, 12:30. Orders for long lasting products are expected to gain .1%, while core orders are estimated to rise by 0.5% in February.

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EUR/USD had a positive week, taking advantage of the Fed’s dovish hike and the favorable outcome of the Dutch elections. What’s next?

Attachment 26057

1. German PPI: Monday, 7:00. A more moderate rate of 0.4% is on the cards.
2. Bundesbank Monthly Report: Monday, 11:00.
3. Jens Weidmann talks: Monday, 16:45. The president of the German central bank, the Bundesbank, speaks in Loerrach and his speech carries more weight this time.
4. Current Account: Wednesday, 9:00. A surplus of 29.3 billion is on the cards.
5. German GfK Consumer Climate: Thursday, 7:00. A tick up to 10.1 is predicted.
6. ECB Economic Bulletin: Thursday, 9:00. The European Central Bank follows up on its rate decisions by releasing the data that was available to the Governing Council while making its decision. Any optimism about inflation could help the euro.
7. Belgian NBB Business Climate: Thursday, 14:00.
8. Consumer Confidence: Thursday, 15:00. The figure is projected to remain unchanged.
9. Flash PMIs: Friday, during the European morning: 8:00 for France, 8:30 for Germany and 9:00 for the euro-zone.

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