Weekly Forex News

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The US currency is under pressure after the publication of a weak inflation report in the US. On Friday, August 11, the dollar index (#DX) closed in the negative zone (-0.36%). In July, the consumer price index in the US was 0.1%. Experts expected the growth rate of 0.2%. It should be recalled that earlier the FOMC representative W. Dudley was concerned about the low level of inflation in the country. The official believes that the growth of the US economy can be modest.



On Monday in the Asian trading session, statistics on retail sales in New Zealand will be published. At 02:50 (GMT+3:00) there will be preliminary data on Japan’s GDP for the second quarter. China will publish reports on the fixed assets investments and the industrial production volume at 05:00 (GMT+3:00). This statistics can have an impact on the dynamics of the Australian dollar.
The news background on the economy of the Eurozone and the US will be calm.


On Tuesday, the Reserve Bank of Australia will publish the Minutes of the meeting on monetary policy at 04:30 (GMT+3:00).

We advise paying attention to the following economic reports:
Preliminary data on GDP in Germany at 09:00 (GMT+3:00);
An inflation report in the UK at 11:30 (GMT+3:00);
Statistics on retail sales in the US at 15:30 (GMT+3:00).


On Wednesday, we expect a report on the labor market in the UK and data on the Eurozone GDP at 11:30 (GMT+3:00) and 12:00 (GMT+3:00), respectively.

At 15:30 (GMT+3:00) there will be a series of statistics on the real estate market in the United States.

In the American trading session, the attention of the financial market participants will be focused on the publication of the FOMC protocols at 21:00 (GMT+3:00).


On Thursday, the news background will be quite eventful. In the Asian trading session, the statistics on the trade balance of Japan and the report on the labor market in Australia will appear at 02:50 (GMT+3:00) and 04:30 (GMT+3:00) respectively.

At 11:30 (GMT+3:00), the National Statistical Office of Great Britain will publish a report on retail sales. At 12:00 (GMT+3:00) the revised data on inflation in the Eurozone and the ECB monetary policy meeting minutes will appear.

At 15:30 (GMT+3:00) we expect the index of production activity from the Federal Reserve Bank of Philadelphia.


On Friday, investors’ attention will be focused on the report on inflation in Canada at 15:30 (GMT+3:00).

Indices of consumers’ expectations and sentiments from the University of Michigan will be published at 17:00 (GMT+3:00).


Source: JustForex Broker

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