If actual > forecast = good for currency (for CAD in our case)
Bank of Canada stands pat on key interest rate
The Bank of Canada made no change in its key policy interest rate
this morning as expected, leaving it at the one per cent level it has
been at for the past three years.
The central bank said low interest rates will remain "appropriate" as long as inflation and growth in Canada remain subdued.
The bank noted that the global economy continues to expand, but its
"dynamic has moderated," saying that recent data suggested "slightly
less momentum overall" in the U.S. than anticipated.
But it said financial volatility has increased in a number of
emerging economies, with the notable exception of China, which it says
is still showing "solid" economic growth.
The Bank of Canada also noted that the housing sector has been
"slightly stronger than anticipated," and said household credit growth
has continued to slow in the presence of higher mortgage rates.
The policy statement the bank released along with its rate decision was similar in tone to the last one in July.
Trading the News: European Central Bank Interest Rate Decision
Time of release: 09/05/2013 11:45 GMT, 7:45 EDT
Primary Pair Impact: EURUSD
Why Is This Event Important:
With the ongoing theme of utilizing non-standard measures, ECB President
Mario Draghi, who’s scheduled to deliver the policy statement at 12:30
GMT, may implement his own style of ‘verbal intervention’ to encourage a
stronger recovery while addressing the threat for deflation. In turn,
the Euro may struggle to hold its ground should the central bank show a
preference for a lower exchange-rate.
How To Trade This Event Risk
Trading the ECB interest rate decision may not be as clear cut as some
of our other trade setups as the press conference with President Draghi
ends with a Q&A session.
Bearish EUR Trade: ECB Adjust Forward-Guidance in Favor of Easing Cycle
If actual > forecast = good for currency (for USD in our case)
U.S. Private Sector Employment Rises Slightly Less Than Expected
Private sector employment in the U.S. rose by slightly less than
expected in the month of August, according to a report released by
payroll processor Automatic Data Processing, Inc. (ADP) on Thursday.
said private sector employment increased by 176,000 jobs in August
compared to a downwardly revised increase of 198,000 jobs in July.
had been expecting the private sector to add about 180,000 jobs
compared to the addition of 200,000 jobs originally reported for the
Press conference following the meeting of the Governing Council of
the European Central Bank on 5 September 2013 at its premises in
Frankfurt am Main, Germany, starting at 2:30 p.m. CET:
Watch official video here.
If actual > forecast = good for currency (for GBP in our case)
U.K. Inflation, Rate Hike Expectations Fall: BoE Survey
Britons' inflation expectations have eased from May and the
proportion of respondents expecting an interest rate hike in the next 12
months was the lowest since 2008, results of a key survey from the Bank
of England revealed on Friday.
Median expectations of the rate
of inflation over the coming year were 3.2 percent, which was lower than
the 3.6 percent predicted in May, the Bank of England/GfK NOP Inflation
Attitudes August Survey showed.
Respondents saw the current
inflation rate at 4 percent versus 4.5 percent in May. Inflation is
expected to reach 3 percent in two years and 3.5 percent in five years
The survey was carried out among 2050 people aged 16 and
over, between August 8 and 13, which was immediately after the Monetary
Policy Committee's forward guidance announcement under the new governor
U.S. Employment Rises Less Than Expected In August
With job growth in the retail and healthcare sectors partly offset
by the loss of jobs in the information sector, the Labor Department
released a report on Friday showing that U.S. employment rose by less
than expected in the month of August.
The Labor Department said
non-farm payroll employment increased by 169,000 jobs in August compared
to economist estimates for an increase of about 175,000 jobs.
2013-09-09 01:30 GMT (or 03:30 MQ MT5 time| [AUD - Home Loans]
If actual > forecast = good for currency (for AUD in our case)
Australia Home Loans +2.4% In July
The total number of home loans in Australia was up a seasonally
adjusted 2.4 percent on month in July, the Australian Bureau of
Statistics said on Monday, standing at 52,204.
That beat forecasts
for an increase of 2.0 percent following the downwardly revised 2.6
percent gain in June (originally 2.7 percent).
The value of loans was roughly flat on month at A$15.391 billion after rising 2.4 percent in the previous month.
Investment lending jumped 2.9 percent on month to A$8.789 billion after easing 0.1 percent in the month prior.
2013-09-09 12:30 GMT (or 14:30 MQ MT5 time| [CAD - Building Permits]
USD/CAD falls to 3-week low after Canadian data
The Loonie strengthened and dragged USD/CAD to a fresh 3-week low after data showed Canadian building permits grew much more than anticipated in July.
Trading the News: U.K. Jobless Claims Change
U.K. Jobless Claims are projected to contract another 21.0K in August
and the ongoing improvement in the labor market is likely to spark fresh
monthly highs in the GBPUSD as it raises the scope of seeing a stronger
recovery in Britain.
Time of release: 09/11/2013 8:30 GMT, 4:30 EDT
Primary Pair Impact: GBPUSD
Why Is This Event Important:
With Bank of England (BoE) policy makers scheduled to testify in front
of the U.K. Treasury Committee later this week, a better-than-expected
employment report may encourage Governor Mark Carneytoadopt a more
neutral tone for monetary policy, while a growing number of central bank
officials may highlight a greater risk of seeing above-target price
growth for an extended period of time as the economy gets on a firmer
How To Trade This Event Risk
Bullish GBP Trade: Jobless Claims Contracts 21.0K or More :
Unemployment claims slipped another 29.2K in July following the 29.4K decline the month prior, while the
jobless rate held steady at an annualized 7.8% for the fourth
consecutive month. Indeed, the sharp decline propped up the British
Pound, with the GBPUSD making a run at the 1.5500 handle, but we saw the
sterling consolidate throughout the day as the pair closed at 1.5498.
President Obama Speach by AUDUSD chart - from 19 pips down to 25 pips up
2013-09-11 01:00 GMT (or 03:00 MQ MT5 time| [USD - President Obama Speach]