2013-11-05 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Services PMI]
if actual > forecast = good for currency (for GBP in our case)
UK Service Sector Activity Rises At Fastest Pace Since 1997
British service sector activity expanded at the fastest pace in more
than sixteen years in October, a survey by Markit Economics and the
Chartered Institute of Purchasing & Supply (CIPS) revealed Tuesday.
The headline seasonally adjusted business
activity index rose to 62.5 in October from September's 60.3. The
October reading represented the sharpest rise in activity since May
"This has largely been the result of rising levels of
incoming new business placed with service providers as market sentiment
has improved in line with a strengthened economic climate," Markit said.
Gold Prices Could Drop Thursday As It Is Only A Matter Of Time Before ECB Cuts Rates
(Kitco News) - Although the European Central Bank is not expected to cut
interest rates when they meet on Thursday, some analysts believe that
it is only a matter of time before rates are lowered, dragging down the
euro and gold prices.
'X.XX|X.X' format :
2013-11-06 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Industrial Production]
U.K. Industrial Output Rebounds In September
British industrial production bounced back in September after two
consecutive declines, the latest figures from the Office for National
Statistics showed Wednesday. The rebound was stronger than expected by
Total production rose 2.2 percent year-on-year in
September following a 1.5 percent fall in August and a 1.1 percent
decline in July. The consensus was for an increase of 1.8 percent.
output grew 0.8 percent annually in September. This comes after a 0.2
percent fall in August and a 0.4 percent drop in July. The outcome
matched economists' forecast.
With the greenback below its 200-day moving average, how are you trading the dollar index?
The U.S. dollar index
has come under enormous pressure in recent sessions. The index fell to a
nine-month low of 78.9 last week, and is down over 4 percent from
September's one-month peak of 82.67.
This week's Federal Reserve policy-setting meeting is expected to pose further downside risk to the index.
Markets are already pricing in expectations that the central bank will
hold off on any reduction in its $85-billion-a-month bond-buying program
until next year, which could result in limited movement for major
"In any case, the Fed will probably consider it way too premature
to initiate 'taper' just yet. As such, we expect this week's FOMC to be
uneventful," said Vishnu Varathan of Mizuho Bank.
2013-11-06 15:00 GMT (or 16:00 MQ MT5 time) | CAD - Ivey PMI]
if actual > forecast = good for currency (for CAD in our case)
Canada Ivey Purchasing Managers Index at 62.8 in October
The Ivey Purchasing
Managers Index was at 62.8 on a seasonally adjusted basis in October,
indicating that purchasing activity in Canada expanded from September.
The index, which measures changes in economic activity as indicated by
a panel of purchasing managers from across Canada, is sponsored by the
Richard Ivey School of Business at Western University.
An index greater than 50 indicates an expansion of purchasing
activity, while an index below 50 indicates a decline. The median
forecast for October based on economists surveyed by Dow Jones was 51.5.
2013-11-07 00:30 GMT (or 01:30 MQ MT5 time) | AUD - Employment Change]
if actual > forecast = good for currency (for AUD in our case)
Australia October Unemployment Rate 5.7%
The unemployment rate in Australia came in at a seasonally adjusted
5.7 percent in October, the Australian Bureau of Statistics said on
That was in line with expectations and up from 5.6 percent in September.
However, the Australian economy added just 1,100 jobs in October to 11,639,200 - well shy of forecasts forecast for 10,000.
2013-11-07 12:45 GMT (or 13:45 MQ MT5 time) | EUR - Interest Rate]
if actual > forecast = good for currency (for EUR in our case)
ECB Unexpectedly Cuts Interest Rate To New Low
The European Central Bank sprung a surprise on Thursday by cutting
the key interest rate to a record low in November, yielding to intense
market speculation for such a move, given the combination of low
inflation, record unemployment and a stronger currency.
Governing Council, led by ECB President Mario Draghi, cut the main
refinancing rate by 25 basis points to record low 0.25 percent,
following the rate-setting session in Frankfurt. Previously, the bank
slashed the rate by a quarter-point in May, which was the first
reduction in nine months.
RBA: Further Rate Cuts Are Possible
The Reserve Bank of Australia has trimmed interest rates nearly in half in recent months in an effort to stimulate the economy
- but the central bank won't ruled out still more rate cuts if the
situation warrants it, the RBA said on Friday in its quarterly statement
on monetary policy.
The RBA said that unemployment is expected to
rise and GDP is likely to remain below trend at 2.5 percent - while
inflation figures to remain comfortably low at 1.5 to 2.5 percent, all
of which adds to the case for further stimulus.
But the bank -
which cut rates by 25 basis points in August - wants to make sure it
allows enough time for the stimulus to work its way into the economy.
Board will continue to assess the outlook and adjust policy as needed
to foster sustainable growth in demand and inflation outcomes consistent
with the inflation target over time," the RBA said.