Last week ,we witnessed 3 critical events , Swiss vote on gold holdings, Draghi’s speech and US Non-Farm Payrolls .Voters in Switzerland said no to increase gold holdings to 20 percent of SNB , This scenario should keep the Gold under pressure even in case of recovery . The second point was Draghi’s speech last Thursday when he said the ECB will re-evaluate the need for more stimulus next year, this announcement surprised the market a little bit , but the real surprise came on last Friday , US non-farm payrolls jumped to 321K , this scenario is likely to push the USD further higher at least this week , any way , let’s highlight the most critical events which may influence currency market this week :
Monday , Dec 08 2014
- China will publish data on its trade balance.
- Switzerland will publish reports on retail sales and consumer price inflation.
- Canada will produce data on building starts and housing permits.
Tuesday , Dec 09 2014
- Australia will publish data on business confidence.
- The UK will publish a report on industrial and manufacturing production.
- Australia will produce data on consumer sentiment.
- Japan will issue a report on its BSI manufacturing index.
Wednesday ,Dec 10 2014
- Australia will produce official data on home loans.
- China will publish data on the consumer price index.
- The U.K. will release data on the trade balance.
- The Reserve Bank of New Zealand will announce its benchmark interest rate and publish its rate statement,followed by a press conference.
- Japan will release data on core machinery orders and tertiary industry activity.
Thursday ,Dec 11 2014
- RBNZ Gov Wheeler Speaks .
- Australia will publish data on the change in the number of people employed and the unemployment rate.
- The Swiss National Bank will announce its libor rate and publish its monetary policy assessment, followed by a press conference.
- BoC Gov Poloz Speaks .
- The U.S. will release data on retail and its weekly report on jobless claims.
Friday , Dec 12 2014
- China will release data on industrial production and fixed asset investment.
- The euro zone will publish a report on industrial production.
- The U.S. end the week with data on producer prices and a preliminary report on consumer sentiment.
Events will be discussed during the week !!!