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Press review - page 83

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USDJPY Fundamentals (based on dailyfx article)


Fundamental Forecast for Japanese Yen: Neutral

  • Japanese Yen surges, and we see key reasons why it could continue higher
  • Cyclical market studies point to a potentially critical week for the USDJPY exchange rate

GBPUSD Fundamentals (based on dailyfx article)


Fundamental Forecast for the British Pound: Bullish

  • British Pound Mixed after ‘In-Line’ 4Q GDP Reading
  • Cycle turn window in GBP/USD

USDCAD Fundamentals (based on dailyfx article)



Fundamental Forecast for Canadian Dollar: Neutral

  • USD/CAD Pullback May Yield Long Entry
  • US New Home Sales Rose to 417K; USDCAD Mixed
  • Canadian Dollar Gains after March CPI Slows down

NZDUSD Fundamentals (based on dailyfx article)



Fundamental Forecast for Canadian Dollar: Neutral

  • USD/CAD Pullback May Yield Long Entry
  • US New Home Sales Rose to 417K; USDCAD Mixed
  • Canadian Dollar Gains after March CPI Slows down

Forex - Weekly outlook: February 3 - 7 (based on investing.com article)


Monday, February 3

  • Markets in China are to remain closed for the Lunar New Year holiday.
  • Australia is to produce data on building approvals, a leading indicator of future construction activity.
  • In the euro zone, Spain and Italy are to publish data on manufacturing activity. Elsewhere in Europe, Switzerland is to release its SVME manufacturing index.
  • The U.K. is also to publish data on manufacturing activity, a leading indicator of economic health.
  • Canada is to release data on raw materials price inflation.
  • In the U.S., the Institute of Supply Management is to produce data on manufacturing activity, a leading economic indicator.

Tuesday, February 4

  • The RBA is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision.
  • Markets in China are to remain closed for the Lunar New Year holiday.
  • In the euro zone, Spain is to release data on the change in the number of people unemployed.
  • The U.K. is to publish data on construction sector activity, a leading economic indicator.
  • The U.S. is to produce data on factory orders, a leading indicator of production.
  • New Zealand is to publish data on the change in the number of people employed and the unemployment rate.

Wednesday, February 5

  • Markets in China are to remain closed for the Lunar New Year holiday. Japan is to publish data on average cash earnings.
  • 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 publish data on service sector activity.
  • The U.K. is also to release data on service sector activity, a leading economic indicator.
  • Canada is to produce data on building permits.
  • 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.
  • Markets in New Zealand are to remain closed for a national holiday.

Thursday, February 6

  • Australia is to release data on retail sales and the trade balance, the difference in value between imports and exports. The nation is also to release private sector data on business confidence.
  • Markets in China are to remain closed for the Lunar New Year holiday.
  • Germany is to publish data on factory orders.
  • The BoE is to announce its benchmark interest rate.
  • Later in the day, the ECB is to announce its benchmark interest rate. The announcement is to be followed by a press conference with President Mario Draghi.
  • Both the U.S. and Canada are to publish data on the trade balance, and the U.S. is also to publish the weekly report on initial jobless claims. Canada is to publish its Ivey PMI.

Friday, February 7

  • The RBA is to publish its monetary policy statement, which outlines economic conditions and the inflation outlook from the bank’s perspective.
  • Germany is to publish reports on industrial production and the trade balance.
  • Switzerland is to publish data on retail sales, while the Swiss National Bank is to release data on foreign currency reserves. This data is closely scrutinized for indications of the size of the bank’s operations in currency markets.
  • The U.K. is to produce data on manufacturing and industrial production, as well as a report on the trade balance.
  • Canada is to publish data on the change in the number of people employed and the unemployment rate.
  • The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.

USD/CHF weekly outlook: February 3 - 7 (based on investing.com article)

The dollar was higher against the Swiss franc on Friday as data on personal spending and consumer sentiment added to the view that the U.S. economic recovery is deepening.

Monday, February 3

  • Switzerland is to release its SVME manufacturing index.
  • In the U.S., the Institute of Supply Management is to produce data on manufacturing activity, a leading economic indicator.

Tuesday, February 4

  • The U.S. is to produce data on factory orders, a leading indicator of production.

Wednesday, February 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, February 6

  • The U.S. is to publish the weekly report on initial jobless claims as well as data on the trade balance.

Friday, February 7

  • Switzerland is to publish data on retail sales, while the Swiss National Bank is to release data on foreign currency reserves. This data is closely scrutinized for indications of the size of the bank’s operations in currency markets.
  • The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.

USD/JPY weekly outlook: February 3 - 7 (based on investing.com article)

The dollar was lower against the yen on Friday as steep declines in the euro and a broad based selloff in emerging economies bolstered safe haven demand for the yen.

Monday, February 3

  • The Institute of Supply Management is to produce data on manufacturing activity, a leading economic indicator.

Tuesday, February 4

  • The U.S. is to produce data on factory orders, a leading indicator of production.

Wednesday, February 5

  • Japan is to publish data on average cash earnings.
  • 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, February 6

  • The U.S. is to publish the weekly report on initial jobless claims as well as data on the trade balance.

Friday, February 7

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

USD/CAD weekly outlook: February 3 - 7 (based on investing.com article)

The U.S. dollar rose to fresh four-and-half year highs against the Canadian dollar on Friday as the selloff in emerging markets prompted investors to stage a broad retreat from riskier assets.

Monday, February 3

  • Canada is to release data on raw materials price inflation.
  • In the U.S., the Institute of Supply Management is to produce data on manufacturing activity, a leading economic indicator.

Tuesday, February 4

  • The U.S. is to produce data on factory orders, a leading indicator of production.

Wednesday, February 5

  • Canada is to produce data on building permits.
  • 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, February 6

  • Both the U.S. and Canada are to publish data on the trade balance, and the U.S. is also to publish the weekly report on initial jobless claims. Canada is to publish its Ivey PMI.

Friday, February 7

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

AUD/USD weekly outlook: February 3 - 7 (based on investing.com article)

The Australian dollar weakened against its U.S. counterpart on Friday, as demand for the greenback remained supported after the Federal Reserve announced plans to further taper its monthly bond-buying program.

Monday, February 3

  • Australia is to produce data on building approvals, a leading indicator of future construction activity.
  • In the U.S., the Institute of Supply Management is to produce data on manufacturing activity, a leading economic indicator.

Tuesday, February 4

  • The RBA is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision.
  • The U.S. is to produce data on factory orders, a leading indicator of production.

Wednesday, February 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, February 6

  • Australia is to release data on retail sales and the trade balance, the difference in value between imports and exports. The nation is also to release private sector data on business confidence.
  • The U.S. is to publish the weekly report on initial jobless claims as well as data on the trade balance.

Friday, February 7

  • The RBA is to publish its monetary policy statement, which outlines economic conditions and the inflation outlook from the bank’s perspective.
  • The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.

NZD/USD weekly outlook: February 3 - 7 (based on investing.com article)

The New Zealand dollar tumbled to a four-month low against its U.S. counterpart on Friday, as the broad based selloff in emerging markets spurred safe haven demand.

Monday, February 3

  • The U.S. Institute of Supply Management is to produce data on manufacturing activity, a leading economic indicator.

Tuesday, February 4

  • The U.S. is to produce data on factory orders, a leading indicator of production.
  • New Zealand is to publish data on the change in the number of people employed and the unemployment rate.

Wednesday, February 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.
  • Markets in New Zealand are to remain closed for a national holiday.

Thursday, February 6

  • The U.S. is to publish the weekly report on initial jobless claims as well as data on the trade balance.

Friday, February 7

  • 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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