Weekly Outlook: 2014, March 02 - 09

USD/CAD Fundamentals - weekly outlook: March 3 - 7

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The Canadian dollar ended Friday’s session higher against the U.S. dollar, after data showed that the Canadian economy grew more than forecast in the final three months of 2013, while U.S. growth was revised lower.

Monday, March 3

• Canada is to produce data on raw material price inflation.
• The U.S. is to release data on personal spending, while the Institute of Supply Management is to release data on manufacturing activity.

Wednesday, March 5

• The BoC is to announce its benchmark interest rate and publish its monetary policy statement, which outlines economic conditions and the factors affecting the bank’s decision.
• The U.S. is to release the ADP report on private sector job creation, which leads the government’s nonfarm payrolls report by two days. Meanwhile, the ISM is to publish a report service sector activity.

Thursday, March 6

• The U.S. is to publish the weekly report on initial jobless claims and data on factory orders.
• Canada is to publish a report on building permits and the Ivey PMI.

Friday, March 7

• Canada is to publish data on the change in the number of people employed and the unemployment rate, as well as a report on the trade balance.
• The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.

AUD/USD Fundamentals - weekly outlook: March 3 - 7

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The Australian dollar ended Friday’s session close to a four-week low against its U.S. counterpart, as lingering concerns over the health of China’s economy and a weakening Chinese Yuan dampened sentiment.

Monday, March 3

• Australia is to publish a report on company operating profits.
• China is to produce data on service sector activity, as well as a revised reading on the HSBC manufacturing index.
• The U.S. is to release data on personal spending, while the Institute of Supply Management is to release data on manufacturing activity.

Tuesday, March 4

• The RBA is to announce its benchmark interest rate and publish its monetary policy statement, which outlines economic conditions and the factors affecting the bank’s decision.
• Australia is also to publish data on building approvals and the current account. Japan is to produce a report on average cash earnings.

Wednesday, March 5

• Australia is to publish data on fourth quarter gross domestic product, the broadest indicator of economic activity and the leading measure of the economy’s health.
• The U.S. is to release the ADP report on private sector job creation, which leads the government’s nonfarm payrolls report by two days. Meanwhile, the ISM is to publish a report service sector activity.

Thursday, March 6

• Australia is to publish data on retail sales and the trade balance, the difference in value between imports and exports.
• The U.S. is to publish the weekly report on initial jobless claims and data on factory orders. Canada is to publish a report on building permits and the Ivey PMI.

Friday, March 7

• RBA Governor Glenn Stevens is to testify before the House of Representatives Economic Committee, in Sydney; his comments will be closely watched.
• The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.

NZD/USD Fundamentals- weekly outlook: March 3 - 7

The New Zealand rose to a six-week high against its U.S. counterpart on Friday, after data showed that U.S. fourth quarter growth was revised lower, adding to worries that the Federal Reserve may slow the pace of reductions to its stimulus program.

Monday, March 3

• The U.S. is to release data on personal spending, while the Institute of Supply Management is to release data on manufacturing activity.

Wednesday, March 5

• The U.S. is to release the ADP report on private sector job creation, which leads the government’s nonfarm payrolls report by two days. Meanwhile, the ISM is to publish a report service sector activity.

Thursday, March 6

• The U.S. is to publish the weekly report on initial jobless claims and data on factory orders.

Friday, March 7

• The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.

EUR/USD Fundamentals - weekly outlook: March 3 - 7

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The euro rose to two-month highs against the dollar on Friday after data showed that U.S. growth was revised sharply lower in the fourth quarter and euro zone inflation rose more than expected in February.

Monday, March 3

• In the euro zone, Spain and Italy are to release data on manufacturing activity. Meanwhile, ECB President Mario Draghi is to speak in the European Parliament in Brussels.
• The U.S. is to release data on personal spending, while the Institute of Supply Management is to release data on manufacturing activity.

Tuesday, March 4

• In the euro zone, Spain is to release data on the change in the number of people unemployed.

Wednesday, March 5

• The euro zone is to release data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. Spain and Italy are to release data on service sector activity.
• The U.S. is to release the ADP report on private sector job creation, which leads the government’s nonfarm payrolls report by two days. Meanwhile, the ISM is to publish a report service sector activity.

Thursday, March 6

• The ECB is to announce its benchmark interest rate. The announcement is to be followed by a press conference with President Mario Draghi.
• The U.S. is to publish the weekly report on initial jobless claims and data on factory orders.

Friday, March 7

• In the euro zone, Germany is to publish data on industrial production.
• The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.

GBP/USD Fundamentals - weekly outlook: March 3 - 7

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The pound moved higher against the dollar on Friday after data showed that U.S. fourth quarter growth was revised sharply lower, stoking concerns that the Federal Reserve may slow the rate of reductions to its asset purchase program.

Monday, March 3

• The U.K. is to release data on manufacturing activity and net lending to individuals.
• The U.S. is to release data on personal spending, while the Institute of Supply Management is to release data on manufacturing activity.

Tuesday, March 4

• The U.K. is to release data on construction sector activity.

Wednesday, March 5

• The U.K. is to produce data on service sector activity, a leading indicator of economic health.
• The U.S. is to release the ADP report on private sector job creation, which leads the government’s nonfarm payrolls report by two days. Meanwhile, the ISM is to publish a report service sector activity.

Thursday, March 6

• The BoE is to announce its benchmark interest rate.
• The U.S. is to publish the weekly report on initial jobless claims and data on factory orders.

Friday, March 7

• The U.K. is to release data on consumer inflation expectations.
• The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.

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