Press review - page 105

Sergey Golubev
Moderator
113440
Sergey Golubev  
AUD/USD Fundamentals - weekly outlook: March 10 - 14

The Australian dollar fell from a three-month against its U.S. counterpart on Friday, after Reserve Bank Governor Glenn Stevens said the exchange rate is "high by historical standards".

Tuesday, March 11
  • Australia is to produce private sector data on business confidence.
Wednesday, March 12
  • Australia is to release private sector data on consumer sentiment, as well as official data on home loans.
Thursday, March 13
  • Australia is to publish data on the change in the number of people employed and the unemployment rate, as well as a private sector report on inflation expectations.
  • The U.S. is to release data on retail sales and import prices, in addition to the weekly government report on initial jobless claims.
Friday, March 14
  • The U.S. is to round up the week with data on producer price inflation and preliminary data from the University of Michigan on consumer sentiment.
Sergey Golubev
Moderator
113440
Sergey Golubev  
NZD/USD Fundamentals - weekly outlook: March 10 - 14

The New Zealand rose to a more than four-month high against its U.S. counterpart on Friday before turning modestly lower, as the release of upbeat U.S. nonfarm payrolls data underlined the view that the Federal Reserve will maintain the current pace of reductions to its stimulus program.

Wednesday, March 12
  • The RBNZ 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 announcement is to be followed by a press conference.
Thursday, March 13
  • RBNZ Governor Graeme Wheeler is to testify before the Finance and Expenditure Select Committee, in Wellington.
  • The U.S. is to release data on retail sales and import prices, in addition to the weekly government report on initial jobless claims.
Friday, March 14
  • The U.S. is to round up the week with data on producer price inflation and preliminary data from the University of Michigan on consumer sentiment.
Sergey Golubev
Moderator
113440
Sergey Golubev  
GBP/USD Fundamentals - weekly outlook: March 10 - 14

The pound moved lower against the dollar on Friday after data showed that the U.S. employment report for February was stronger than forecast, bolstering the outlook for the economic recovery.

Tuesday, March 11
  • The U.K. is to publish data on manufacturing production. Meanwhile, BoE Governor Mark Carney and several monetary policy committee members are to testify on inflation and the economic outlook before Parliament's Treasury Committee.
Wednesday, March 12
  • The U.K. is to produce data on the trade balance, the difference in value between imports and exports.
Thursday, March 13
  • The U.S. is to release data on retail sales and import prices, in addition to the weekly government report on initial jobless claims.
Friday, March 14
  • The U.S. is to round up the week with data on producer price inflation and preliminary data from the University of Michigan on consumer sentiment.
Sergey Golubev
Moderator
113440
Sergey Golubev  
EUR/USD weekly outlook: March 10 - 14

The euro pulled back from two-and-a-half year highs against the dollar on Friday after data showed that the latest U.S. jobs report for February came in ahead of expectations.

Monday, March 10
  • In the euro zone, France is to produce data on industrial production.
Tuesday, March 11
  • Germany is to release data on the trade balance, the difference in value between imports and exports.
Wednesday, March 12
  • The euro zone is to release data on industrial production.
Thursday, March 13
  • The ECB is to publish its monthly bulletin, which looks at current and future economic conditions from the bank’s perspective.
  • The U.S. is to release data on retail sales and import prices, in addition to the weekly government report on initial jobless claims.
Friday, March 14
  • The U.S. is to round up the week with data on producer price inflation and preliminary data from the University of Michigan on consumer sentiment.
Sergey Golubev
Moderator
113440
Sergey Golubev  

Forex probes set to dwarf Libor cases

The global probe into possible price rigging in foreign exchange markets has spawned a new industry centred on investigating the £5.3tn a day sector as regulators and global banks throw enormous resources at shedding light on the allegations.

At least a dozen authorities across the US, Europe and Asia are assisting in or conducting investigation against more than 15 banks to find evidence that traders have shared information about client orders and tried to move crucial forex benchmarks.

Sergey Golubev
Moderator
113440
Sergey Golubev  

2013-03-10 07:45 GMT (or 08:45 MQ MT5 time) | [EUR - French Industrial Production]

if actual > forecast = good for currency (for EUR in our case)

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French Industrial Production Unexpectedly Slips Into Contraction

France's industrial production fell back into contraction in January, contrary to economist's forecast for a marked increase, latest data revealed Monday.

Industrial production edged down 0.1 percent year-on-year in January, reversing increases of 0.3 percent and 1.5 percent logged in December and November respectively, statistical office Insee said. Economists were looking for 1.3 percent expansion for January.

Sequentially, industrial production decreased 0.2 percent in the beginning of the year, after falling 0.6 percent in December. Expectations were for a 0.5 percent gain.

Sergey Golubev
Moderator
113440
Sergey Golubev  

SEC Said to Probe Whether Forex Rigging Distorted Options

The U.S. Securities and Exchange Commission is investigating whether currency traders at the world’s biggest banks distorted prices for options and exchange-traded funds by rigging benchmark foreign-exchange rates, according to two people with knowledge of the matter.

The SEC’s inquiry adds to European and U.S. regulatory probes of possible manipulation in currency markets. The SEC’s investigation is in the early stages, said the people, who asked not to be named because the matter isn’t public. The Commodity Futures Trading Commission, which regulates foreign-exchange derivatives, is also investigating possible manipulation, another person said.

Sergey Golubev
Moderator
113440
Sergey Golubev  

Malaysian Airlines stock sharply lower

Shares of Malaysia Airlines were sharply lower by as much as 20% Monday after a passenger jet departing Kuala Lumpur went missing.

China, which also experienced its first corporate bond default on Friday, saw the Shenzhen Composite tumble 3.5%, the Shanghai Composite plunge 2.9% and Hong Kong's Hang Seng drop 1.8% at market close.

Japan's Nikkei lost 1%, after the government revised annual gross domestic product growth to 0.7% in the fourth quarter, from 1.0%, ahead of a two-day central bank board meeting that begins Tuesday.

Malaysia Airlines stock sharply lower after plane vanishes
Malaysia Airlines stock sharply lower after plane vanishes
  • Sophia Yan
  • money.cnn.com
Other Asian markets took a tumble on the back of weak economic data in the region. Stocks in mainland China fell on poor trade figures, while markets in Japan traded lower as the government said the economy expanded at a slower pace last quarter than initially reported. The missing plane, Malaysia Airlines Flight 370, disappeared an hour...
Sergey Golubev
Moderator
113440
Sergey Golubev  

2013-03-11 00:30 GMT (or 01:30 MQ MT5 time) | [AUD - NAB Business Confidence]

if actual > forecast = good for currency (for AUD in our case)

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Australia Business Conditions Plummet - NAB

Indexes monitoring business conditions and business confidence in Australia declined in February, the latest survey from National Australia Bank revealed on Tuesday.

The reading for business conditions fell to 0 from an upwardly revised 5 in January (originally 4), while business confidence dipped to 7 from the upwardly revised 9 (originally 8) in the previous month.

Sergey Golubev
Moderator
113440
Sergey Golubev  

2013-03-11 07:00 GMT (or 08:00 MQ MT5 time) | [EUR - German Trade Balance]

if actual > forecast = good for currency (for EUR in our case)

==========

German Exports Recover In January

German exports grew more than expected in January after declining in December, official data showed Tuesday.

Exports grew 2.2 percent month-on-month in January, reversing the 0.9 percent fall in December, Destatis said. Shipments were forecast to grow 1.5 percent.

Likewise, imports advanced 4.1 percent after declining 1.4 percent a month ago. The rate of growth far exceeded the 1.4 percent rise forecast by economists.

Due to a notable growth in imports, the trade surplus fell to a seasonally adjusted EUR 17.2 billion in January from EUR 18.3 billion in the prior month.

Press releases - Federal Statistical Office (Destatis)
  • www.destatis.de
German exports in January 2014: +2.9% on January 2013 Germany exported goods to the value of 90.7 billion euros and imported goods to the value of 75.7 billion euros in January 2014. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 2.9% and imports by 1.5% in January 2014 on...