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Overview of the main economical events of the current day - 27/08/2013
US Durable Goods Orders Fell Unexpectedly
Trading at Forex on Monday was calm amid almost empty calendar and lack of any significant events on most major currencies. The dollar fell a little after the release of a weak Durable Goods Orders report but then recovered its losses. Durable Goods Orders in the USA slumped unexpectedly in July by 7.3% compared with the prior month to $226.6 bln while a drop only by 3.6% was expected.
The decrease was mainly due to the fall of aircraft orders. Durable Goods Orders Ex Transportation dropped by 0.6% against the expected growth by 0.5%. Capital Goods Orders Non-Defense Ex Aircrafts – a key indicator of business investment – decreased by 3.3% in July compared with the prior month after previous 5-month growth. At the same time a less significant Dallas Fed Manufacturing Activity Index grew up to 5.0 in August against 4.4 in July while its drop was expected.
Jackson Hole Economic Symposium ended past weekend. This time it didn’t attract much attention as no governors of major central banks joined it. According to many experts at the summit, the desire of Fed leaders who were present at the meeting to finish asset purchasing the sooner the better was felt. The Fed seems to be still intended to reduce QE in September. Although September decrease is likely to be less than expected before – not $20 bln from current $85 bln a month but $10 bln.
The euro and the pound were traded at a narrow range and closed almost unchanged. There were no any statistics in Europe and it was a day-off in the UK. ECB board member and German Bundesbank President Jens Weidmann said on Monday that the ECB, in his opinion, wouldn’t keep interest rates at low for several years.
Weidmann again opposed buying bonds of problem euro-zone countries by the ECB having called it redistribution of risks of unsound budgetary policy to all euro-zone states. ECB President Mario Draghi announced a year ago that the ECB was prepared to buy unlimited quantities of government bonds of such countries on the secondary market – and it turned out enough to calm down financial markets.
New Zealand dollar had almost no reaction towards bad trade balance data and closed the day with a slight growth after 5-day decrease in a row. For the first time in six months trade balance has dropped below zero and has amounted to 774 million NZD. The exports grew by 4.8% at an annual rate while the imports rose by 17% - mainly due to aircraft and oil products imports increase. Standard & Poor's Ratings Services affirmed its AA long-term foreign currency rating on the country and said the rating outlook was stable.
By MasterForex Company
Overview of the main economical events of the current day - 28/08/2013
Escalating conflict around Syria led to the growth of defensive assets
Escalating conflict around Syria led to the growth of defensive assets such as the yen, franc and gold; and to escaping from risky currencies such as AUD, NZD and also currencies of developing countries. Daily decrease of the euro Vs the yen on Tuesday turned out the lowest for past eight weeks. The dollar also lost about 1.5% Vs yen having reached the lowest level against Japanese currency for seven days. Swiss franc took the second honorable place in Tuesday leaders rating.
U.S. Secretary of State, John Kerry said on Monday that there was an incontestable evidence of using chemical weapon by Syrian authorities against the rebels, which may serve a motive for military intervention into the country. According to some reports a military operation against Syria may start on Thursday already. The Pentagon has announced its readiness to the military operation in Syria.
The dollar fell on Tuesday against most major currencies except AUD and NZD having no reaction towards US Consumer Confidence growth while it was expected to drop. US Consumer Confidence rose up to 81.5 p. in August Vs 79 p. Consensus. Prior month reading was revised upwards from 80.3 p. to 81 p.
Richmond Fed Manufacturing Index also maintained to +14 in August Vs July reading -11, which has become the best result since April, 2012.
The euro also ignored at first good business confidence statistics in Germany and decreased but then recovered that loss. IFO Business Climate grew to its high for 16 months – 107.5 p. while a growth to 107 p. was expected. The index has been growing for four months in a row. Current Assessment has risen to 112 p. from 110.1 p. in July. IFO Expectations also exceeded the forecast having grown to 103.3 p. against 102.4 p. prior month.
By MasterForex Company
Overview of the main economical events of the current day - 29/08/2013
US Dollar Rose on Wednesday
The US dollar was traded upwards on Wednesday against most major currencies despite some decrease of housing market data. The dollar was in demand as a defensive asset amid rising geopolitical tensions in the Middle East and fears of military actions against Syria. According to some data the attacks on selected targets in Syria with cruise missiles can be made on the night of Thursday to Friday. U.S. Defense Secretary said earlier that the U.S. military is ready to act and waits for the president’s order. Meanwhile, the officials of Syria provided UN inspectors with the evidence of non-use of chemical weapons.
Pending Home Sales Index, a leading indicator at the real estate market, dropped in July for the second month in a row. According to the National Association of Realtors (NAR) - Pending Existing Home Sales Index fell by 1.3% compared with the prior month to 109.5 in July while a slight growth was expected. Continuing growth of rates on mortgage loans has a negative impact on housing market recovery. High prices and a low housing supply in some parts of the country also put pressure.
The euro was traded downwards amid some decrease of consumer sentiment in Germany. According to the GfK report a key Consumer Climate dropped to 6.9 p. in September Vs 7.0 p. in August. It was the first decrease in eight months after reaching more than 6-year high in August as households expect economic recovery to be slow in the nearest months. Retail sales in Italy also turned out a little worse than expected and dropped by 0.2% m/m in June against the expected growth by +0.1%.
The pound recovered almost all its losses of the day after the speech of the Bank of England governor Mark Carney which seemed to the market participants less inclined to soft monetary policy than it was expected. Carney said that there were signs of optimism on the back of a large-scale British economic recovery. He promised further measures on stimulating of the economy should be done if rising interest rates threaten its still weak recovery.
The Bank of England will soften requirements concerning the liquidity for banks. Besides, Carney marked that reaching 7% unemployment didn’t guarantee an automatic increase of interest rates – the Bank of England would also consider other factors. Retail sales growth data also supported the pound. CBI Realized Sales in August reached its high since November, 2012 at +27 Vs +17 in July having significantly exceeded the forecast of +20.
The Australian dollar updated more than 3-week low on Wednesday against the US dollar amid other Asian currencies decrease because of growing fears of soon attack on Syria. Besides, Construction Work Done in Australia fell by 0.3% in the second quarter against the expected growth by 1%.
By MasterForex Company
Overview of the main economical events of the current day - 30/08/2013
US GDP Growth Accelerated in the Second Quarter
The US dollar showed a significant growth on Thursday, the highest for almost 4 weeks according to the dollar index after the publication of strong US GDP data for the second quarter and weak German data. US Unemployment Claims decreased by 6 thousand last week to 331 thousand, which almost coincided with the expectations (332 thousand). It signals improvement at the US labor market.
According to the US Department of Commerce GDP Second Release for the second quarter was raised up to 2.5% at an annual rate against the initial release of 1.7%. The reading was expected to rise only to 2.2%. Growth rates acceleration was caused mainly by the upwards revision of exports and capital investments. Consumer spending was remained unchanged and public spending decreased more than estimated at first and remained the main source of pressure on economic growth.
FOMC Member Jeffrey Lacker said on Thursday that the Fed jeopardized its independence using its balance to support certain industries. Labour market has improved significantly since the beginning of the last bond purchase round and it is a good argument to start reducing the purchase, he said.
The euro reached 2-week low on Thursday Vs the dollar amid a weak report on German labour market, which leveled the reports that showed improvement of French Business Confidence and Italian Consumer Confidence. Unemployment Change in Germany grew by 7 thousand in August against the expected decrease by 5 thousand. German annual inflation dropped for the first time in four months and accounted for 1.5% in August Vs 1.9% in July, which turned out lower than forecasted 1.7%.
The pound also weakened moderately but it was traded a little better than the euro. The Bank of England chairman Mark Carney said on Thursday that devaluation of the currency was not a way to prosperity. He added a fledgling recovery in the U.K. economy appears to have "some life".
The yen fell amid a weak retail sales report. Retail sales in Japan dropped by 1.8% in July compared with June, which exceeded the expected decrease by 1.3%. Also the yen decrease was influenced by some weakening of tensions around the situation in Syria after the US president Barack Obama had said that he hadn’t made a decision on Syria military attack yet and had no desire to involve the country into long-term conflict. The probability of the operation against Syria has slightly fallen recently as the UK and France expressed their desire to wait for the results of the UN expert examination. The experts’ opinion about using chemical weapon in Syria is expected to become known on Friday.
New Zealand dollar was traded downwards on Thursday despite Business Confidence data. ANZ Business Confidence fell slightly in August from July’s 14-year high but remained rather high as New Zealand economy continued showing strengthening signs. Australian dollar also dropped. HIA New Home Sales decreased for the first time in five months according to HIA data. Canadian dollar fell amid Canada’s current account deficit growth that widened in the second quarter to 14.6 billion Canadian dollars against 13.4 billion in the first quarter.
By MasterForex Company
Overview of the main economical events of the current day - 02/09/2013
The Main Events of the Week
The US dollar was traded slightly upwards on Friday against most major currencies amid mixed macrostatistics. Consumer Confidence data turned out better than expected, PMI coincided with the forecasts but Personal Income and Spending report turned out worse. Revised U. of Michigan Consumer Sentiment for August was reconsidered upwards up to 82.1 against preliminary estimates of 80 and the forecast of 80.5. However the index fell significantly in comparison with the revised July reading 85.1 which was the highest for 6 years.
Chicago PMI for August met the expectations and amounted to 53 compared with 52.3 in July. Personal Income growth rate in July slowed down more than expected from 0.3% to 0.1% (Consensus 0.2%); Personal Spending also increased only by 0.1% although a growth by 0.3% was expected. The situation with Syria is delayed and becomes more uncertain. President Obama said on Saturday that would ask the Congress to approve a military attack against Syria and that such operation could be held any time. The Congress is due to reconvene only in a week, 9 September.
By the end of the week the dollar had shown the highest growth for past 8 weeks, it had risen by 0.90% according to the dollar index. The dollar grew Vs all major currencies except the yen (-0.54%). The highest growth was shown against the Australian dollar (+1.37%), the euro (+1.22%), Swiss franc (+0.94%) and New Zealand dollar (+0.90%); less growth was shown Vs British pound (+0.47%) and Canadian dollar (+0.43%). By the end of the month the dollar’s growth had turned out less significant than even for the last week – it grew only by 0.47% according to the dollar index and showed growth against all major currencies except the pound.
This week as the first week of the month will be saturated with important events. There will be meetings of five major central banks of the world (Reserve Bank of Australia – on Tuesday, Bank of Canada – on Wednesday, Bank of Japan , Bank of England and ECB – on Thursday), there will be a release of PMI, GDP data, industrial output, retail sales, trade balance and labour market data. No changes of monetary policy from any central bank are expected but as always any surprises can be expected from the Central Bank of Australia. Besides, ECB Press Conference on Thursday will not be left without attention. The ECB is expected to reveal the details of its plans concerning easing of credit terms for small and medium-sized companies and also of a possible publication of ECB meeting minutes.
In the euro-zone there will be a release of manufacturing PMI on Monday and Service PMI – on Wednesday. Also the second estimate of the GDP growth (no changes are expected) and retail sales will be released on Wednesday. In Germany Factory Orders will be released on Thursday and industrial output and trade balance – on Friday. A decrease of both Factory Orders and industrial output is expected after a significant growth previous month which distorted the results a little.
In the UK during the first three days of the week Manufacturing, Construction and Service PMI will be published. A slight growth except service sector is expected. On Friday industrial output and trade balance data will be released. In Switzerland GDP for the second quarter will be released on Tuesday and inflation and industrial output data – on Friday. In Australia retail sales and current account will be released on Tuesday; GDP for the second quarter – on Wednesday and trade balance – on Thursday. In Canada trade balance will be released on Wednesday and labour market report – on Friday.
In the USA (and Canada) it is a Bank Holiday on Monday and some data (ADP, Crude Oil Inventories) will be released a day later. On Tuesday and Thursday respectively the most important ISM Manufacturing PMI and Non-Manufacturing PMI will be released. A decrease of indexes is expected after reaching many-month highs. On Tuesday Construction Spending will be published and on Wednesday – trade balance and Beige Book, on Thursday - ADP Employment Change and factory orders. And traditionally the first week of the month will be finished by the US Non-Farm Payrolls – it will be one of the last important reports which will be published before the Fed meeting 17-18 September and which will be used by the Fed for taking its decisions.
By MasterForex Company
Overview of the main economical events of the current day - 03/09/2013
UK Manufacturing PMI Has Grown
The pound grew on Monday after the release of manufacturing PMI. Manufacturing PMI in the UK rose in August up to 57.2 p. from 54.8 p. in July – to the highest reading for almost 2.5 years. A growth only to 55 p. was expected. Manufacturing PMI has been growing for seven months in a row in the UK. PMI growth can justify GDP growth rate acceleration in the third quarter.
It was a Bank Holiday on Monday in the USA and Canada. The dollar was traded differently – it weakened against the pound, AUD and NZD and partially rose against other major currencies having shown the highest growth against the yen. The yen weakened significantly amid the decrease of risks connected with Syria and stock indexes growth. US military action against Syria seems to be delayed. Past weekend Barack Obama said that he would ask the Congress to approve military actions against Damask. The uncertainty about the attack on Syria lowers the demand on defensive assets such as the yen and franc.
Swiss franc also followed the yen. The pressure was also put by the manufacturing PMI decrease. Manufacturing PMI in Switzerland dropped in August more than expected to 54.6 p. compared with 57.4 p. in July and against the forecast of 55.2 p. Besides, the head of the Swiss National Bank (SNB) Thomas Jordan said on Monday in the interview to Berner Zeitung that the Swiss franc was still overestimated and SNB would keep its limit for EURCHF as long as it would be necessary.
The euro had almost no reaction on manufacturing PMI growth in the euro-zone which exceeded the expectations and was traded slightly downwards. Euro-zone manufacturing PMI was revised up to 51.4 p. in August from the preliminary reading of 51.3 p. while no changes were expected. In July the index was 50.3 p. The index has been recording an increase for four months in a row and has reached the highest level since June, 2011. National indexes PMI grew in all euro-zone countries except France and Greece.
Australian dollar rose amid Chinese manufacturing PMI growth. Official manufacturing PMI in China released on Sunday grew to 51 p. against 50.3 p. in July having exceeded the forecasts. It may indicate that China’s economic growth rate in the third quarter can be a little higher than expected. HSBC Final Manufacturing PMI rocketed to 50.1 p. in August – the highest reading in 4 months. Besides, Building Approvals in Australia grew by 10.8% in July having exceeded the expectations 2.5 times.
By MasterForex Company
Overview of the main economical events of the current day - 04/09/2013
The Australian Dollar Grew After the Decision on Rate
The Australian dollar grew after the decision of the Reserve Bank of Australia to keep the rate unchanged at 2.50% despite weak retail sales and current account data. RBA rate statement was less mild than expected, which lowered the expectations that the central bank would continue further interest rate decrease. The central bank took a waiting attitude after eight decreases of the rate since 2011. RBA will continue estimating the outlook and correcting the policy necessary for a stable demand and inflation growth, - said RBA governor Glenn Stevens.
Retails sales in Australia grew only by 0.1% in July while its growth by 0.4% was expected. Current Account deficit rose by 7% in the second quarter up to 9.4 billion dollars, which exceeded the forecasted growth to -8.5 billion. Besides, prior quarter data were revised for the worse.
The US dollar was traded slightly upwards on Tuesday amid a positive report on US manufacturing PMI growth to its high since June, 2011. ISM Manufacturing PMI rose up to 55.7 p. in August from 55.4 p. prior month while its decrease to 54.0 p. was expected. New orders, inventories and prices grew while production and employment dropped. Another report of the US Department of Commerce showed that construction costs growth increased by 0.6% in July for a month having exceeded the expected growth by 0.4%.
The euro was traded slightly downwards on Tuesday continuing the decrease of prior days. Euro-zone producer price index has shown its moderate acceleration for two months in a row. Producer price index in the euro-zone rose by 0.3% in July Vs June against the forecasted growth by 0.1%. At the same time Spanish labour market data turned out a little worse than expected – unemployment rate didn’t change last month while its drop by 5.2 thousand was expected.
The pound grew after UK construction PMI report that showed its growth to the highest readings for almost six years but then it lost all the growth. Construction PMI rose to 59.1 p. in August from 57 p. in July while no changes were expected. Construction PMI growth is another sign that UK economic recovery accelerated in the third quarter.
The yen dropped to a month low Vs the dollar amid strong US data and Japanese stock market growth which rose on Tuesday according to Nikkei 225 by 3%. However, the yen was rising shortly on Tuesday after the incident that reminded that the military operation against Syria was just delayed. Some mass media reported on Israel's ballistic missile tests in the Mediterranean. Meanwhile, both parties leaders in the US Congress supported on Tuesday a military attack on Syria. Earlier the president was supported by John Boehner, Speaker of the US House of Representatives.
By MasterForex Company
Overview of the main economical events of the current day - 05/09/2013
UK Services PMI Reached Almost 7-Year High
The US dollar was traded downwards on Wednesday against most major currencies (except the yen) after 5-day growth in a row according to the dollar index amid weak statistic on trade balance and manufacturing PMI in the region of New York. Most of all commodity currencies grew against the dollar. According to the US Department of Commerce US trade balance deficit grew by 13.3% in July – to $39.1 billion having exceeded the expectations. Deficit growth in July was the most significant since January 2011.
The exports dropped in July by 0.6%, while the imports rose by 1.6% mainly due to the oil and automobile imports increase. ISM New York Index dropped to 60.5 in August against 67.8 prior month. IBD/TIPP Economic Optimism grew to 46 in September from 45.1 in August, which met the forecasts. FOMC Member John Williams making speech on Wednesday said that despite bond purchase tapering off, the policy would be still very mild.
The Australian dollar showed the highest growth Vs the dollar among all currencies after the GDP data for the second quarter that turned out a little better than expected. Australian GDP in the second quarter rose by 0.6% compared with the prior quarter, which exceeded the expected growth by 0.5%. At an annual rate the economy has risen by 2.6% Vs Consensus 2.5%. Consumer spending grew by 0.4% last quarter, saving rate increased to 10.8% from 10.5%. The AUD was also supported by Chinese Services PMI growth - HSBC Services PMI reached 5-month high in August and rose to 52.8 against 51.3 in July.
The Canadian dollar rose amid the Bank of Canada meeting finished on Wednesday where the key interest rate was left unchanged and it was repeated that the current monetary policy was still appropriate as there were no any expected changes of demand from the exports and investment yet. GDP growth met the forecast of the Bank of Canada, inflation was still moderate and the exports and investment should grow. The CAD ignored trade balance deficit growth data of Canada in July that rose to 0.93 billion Canadian dollars against 0.46 billion prior month.
The pound reached almost 2-week high Vs the dollar after the release of Services PMI which grew to the highest readings since December, 2006. Services PMI rose to 60.5 in August from 60.2 while it was expected to fall. Service sector accounts for 75% of all the UK economy. The index has been growing for eight months in a row. August growth was mainly due to new orders increase. The data justifies the strengthening of British economic recovery rates in the third quarter.
The euro rose after the publication of revised GDP for the second quarter despite Services PMI and retail sales data that fell short of expectations. Euro-Zone Revised GDP coincided with the preliminary estimate +0.3% - but an annual rate GDP fell slightly less that the initial estimates: by 0.5% not 0.7%. Retail sales rose only by 0.1% m/m in July against the forecast of +0.4%. The Final Services PMI in the euro-zone was lowered to 50.7 against the preliminary estimate of 51 – however, the index is still at 2-year high.
By MasterForex Company
Overview of the main economical events of the current day - 06/09/2013
The Dollar Strengthened in Anticipation of Non-Farm Payrolls
The dollar grew on Thursday after the release of strong labour market data and Non-Manufacturing PMI – and reached almost 7-week high according to the dollar index. ADP Employment Change almost met the forecasts but Unemployment Claims turned out considerably better than expected. They dropped by 9 thousand to 323 thousand while a fall only by 2 thousand was expected.
However an average number of claims for the past 4 weeks, an indicator that smoothes short-term fluctuations and shows the trend better, dropped to the lowest level since October, 2007 – 328.5 thousand, which was several months before the start of the last recession. A month ago before the release of the last labour market report that indicator was 341.5 thousand. For a month it fell by 13 thousand. It shows that Non-Farm Payrolls that are released on Friday can be strong. It is expected that Employment Change will amount to 180 thousand against 162 thousand prior month; and unemployment rate will stay unchanged 7.4%.
The US Services PMI reached historical high since the beginning of this statistics in January, 2008. ISM Non-Manufacturing PMI rose to 58.6 in August compared with 56 in July while it was expected to fall. Almost all sub-indices rose except the price. The highest growth was shown by new orders, employment and imports.
The euro fell to 7-week low Vs the dollar amid the press conference of the ECB president Draghi by the end of the central bank meeting where the policy and interest rates were kept unchanged. However, Draghi said that a possibility to lower the key interest rate was discussed and also referred to downward risks for economy. Besides, German Factory Orders decreased significantly in July more than expected – by 2.7% against the forecasted fall by 1%.
The pound was traded a little better than the euro. The Bank of England also left the key interest rate and bond purchase program unchanged and didn’t make an additional statement by the end of the meeting. The Australian dollar was traded downwards after reaching almost 3-week high against the dollar amid a weak trade balance report. Trade balance deficit reached 0.77 billion Australian dollars in July while trade balance surplus 0.10 billion was expected. Last month data were considerably lowered.
The yen weakened significantly amid 2-day meeting of the Bank of Japan finished on Thursday. The dollar closed higher 100 yens for the first time since July, 24. As it was expected, by the end of the meeting on September 4-5 the Bank of Japan didn’t introduce any changes into monetary policy having refrained from widening not so significant incentive programs. In addition, the central bank slightly improved the current assessment of Japanese economic state. In the statement by the end of the meeting the BoJ said that the economy was recovering at a moderate rate while in August only the beginning of the recovery was marked.
By MasterForex Company
Overview of the main economical events of the current day - 09/09/2013
The Main Events of the Week
The dollar dropped on Friday and leveled almost all weekly growth after the release of Non-Farm Payrolls that fell short of expectations. In August in the USA economy there were created only 169 thousand non-farm jobs against the forecast of 180 thousand. However, data revision downwards turned out much larger – for two past months by whole 74 thousand. The largest revision was for July – by 58 thousand: from 162 thousand to 104 thousand – it was the weakest NFP growth for more than a year.
Unemployment rate continued falling in August and dropped by 0.1% to 7.3% - against 7.4% in July. However, unemployment decrease was ignored like prior month. Unemployment decrease reflects labor force reduce. Labor force participation rate fell to 63.2% last month –the lowest level since August, 1978 compared with 63.4% a month before.
The number of new jobs created every month has never exceeded 200 thousand within recent 6 months. It significantly lowers the chances to start tapering off QE3 at the Fed September meeting – or it will be the lowest (by 10 bln). FOMC member Charles Evans making speech on Friday said that the Fed would probably reduce bond purchases later this year – but the central bank wouldn’t have enough information for it by September meeting.
By the end of the week the dollar showed the smallest growth according to the dollar index – only by 0.1%. The dollar grew against the yen (+0.91%), the Swiss franc (+0.80%) and the euro (+0.35%); and dropped against New Zealand dollar (-3.59%), Australian dollar (-3.19%), Canadian dollar (-1.24%) and British pound (-0.88%). At the second week of the month there are not a lot of important statistics data that can influence the markets significantly. There will be a publication of industrial output, labour market and inflation data.
In the euro-zone there will be a release of industrial output data and ECB Monthly Bulletin on Thursday and trade balance and Employment Change – on Friday. Industrial output data will be also published in other euro-zone countries: in France – on Tuesday, in Italy – on Thursday. On Tuesday the final Italian GDP for the second quarter will be released; and on Thursday - Consumer Price Index of France and Italy.
In the UK BOE Credit Conditions Survey will be released on Tuesday and labour market data – on Wednesday. On Thursday Inflation Report Hearings will be held where the Bank of England Chairman Mark Carney and other central bank members will make speeches. In Japan the final GDP for the second quarter and Current Account data will be released on Monday, on Tuesday – the last Bank of Japan meeting minutes, on Wednesday - - BSI Manufacturing Index and on Thursday - Core Machinery Orders.
The decision of the Bank of New Zealand on the key interest rate will be announced on Thursday, no changes are expected. In Australia labour market report on Thursday may become the most important event. In Canada Building Permits will be released on Monday and New Housing Price Index – on Thursday. In China inflation data will be released on Monday, Industrial Output, Retail Sales and Fixed Asset Investment – on Tuesday.
In the USA Wholesale Inventories and Trade Sales data will be released on Wednesday, on Thursday - Import Prices and Federal Budget Balance, on Friday – Retail Sales, Producer Price Index and Prelim U. of Michigan Consumer Sentiment. From Tuesday to Thursday the US Department of Treasury will sell long-term bonds. Voting on Syria in the Senate, the upper house of the US Parliament will be held on Wednesday. In the lower house of Parliament the voting can be delayed at least for a week. President Obama is going to make an announcement to the nation about the situation in Syria on Tuesday, September 10.
By MasterForex Company