Weekly Forex News

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Last week the US dollar weakened against the majors. The dollar index (#DX) closed in the negative zone (-0.71%). Ambiguous economic reports and disagreements in the draft laws on tax reform between the Senate and the US House of Representatives put pressure on the American currency. The financial markets participants expect additional drivers.


On Monday, the attention will be focused on the speech of the ECB head Draghi.
Economic reports:
– The trade balance of Japan at 01:50 (GMT+2:00);
– The producer price index of Germany at 09:00 (GMT+2:00).


On Tuesday, the minutes of the last meeting of the Reserve Bank of Australia on the monetary policy will be published in the Asian trading session at 02:30 (GMT+2:00).
At 17:00 (GMT+2:00) we expect statistics on sales in the secondary housing market in the US.
We also recommend you to pay attention to the Bank of England head Carney’s speech.


On Wednesday, the attention of the financial market participants will be focused on the publication of the FOMC protocols at 21:00 (GMT+2:00), which may indicate the further pace of increase of the Fed’s key interest rate.
We also recommend you to pay attention to the following statistics:
– A report on orders for durable goods in the US at 15:30 (GMT+2:00);
– Indices of consumers’ expectations and sentiments from the University of Michigan at 17:00 (GMT+2:00);
– Crude oil inventories in the US at 17:30 (GMT+2:00). This report may have an impact on the dynamics of the commodity currencies;
– Statistics on retail sales in Australia at 23:45 (GMT+2:00).



On Thursday, during the European trading session, a number of business activity indices in Germany and the Eurozone will be published at 10:30 (GMT+2:00) and at 11:00 (GMT+2:00), respectively.
At 11:30 (GMT+2:00), the National Statistical Office of Great Britain will publish the revised data on GDP for the third quarter.
At 14:30 (GMT+2:00) the minutes of the ECB’s latest meeting on the monetary policy will appear.
We also recommend you to pay attention to the report on retail sales in Canada at 15:30 (GMT+2:00).
The financial markets of the US and Japan will be closed due to the holidays.


On Friday, the news feed will be fairly calm. Investors will look for the following economic reports:
– The IFO business climate index at 11:00 (GMT+2:00);
– The preliminary data on business activity in the US manufacturing and services sector at 16:45 (GMT+2:00).
The financial markets of the United States will have a short working day due to the holiday.


Source: JustForex Broker

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