Weekly Fundamental Forecasts 06 – 10 Jan

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Fundamental data/events which may influence market  this week:

  1. US ISM Non-Manufacturing PMI: Monday, 15:00. A rise to 54.6 is expected this time. Note that A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
  2. Fed Chairman Nomination Vote: Monday, 10:30., The US Senate will vote to approve the nomination of Janet Yellen as Federal Reserve Chairperson for a term, Feb 2014 – Jan 2018. The event is expected to go smoothly. Any delays are likely to increase the pressure on the dollar.
  3. US Trade Balance: Tuesday, 13:30. A forecast is – 40.2 billion.N note that A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
  4. US ADP Non-Farm Payrolls: Wednesday, 13:15. A smaller gain of 199,000 is expected now. Note that A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
  5. US FOMC Meeting Minutes: Wednesday, 19:00. The Fed releases the minutes of the meeting in which QE tapering was decided upon. Note that the decision if to taper or not to taper in January is likely to remains open.
  6. UK rate decision: Thursday, 12:00. The BOE is expected to leave the rate unchanged at 0.50 %, Note that A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
  7. Eurozone rate decision: Thursday, 12:45, The ECB is expected to leave the rate unchanged at 0.25 %, Note that A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
  8. US Unemployment Claims: Thursday, 13:30. A decline to 334,000 jobs is expected now. Note that A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the US
  9. US Non-Farm Payrolls: Friday, 13:30. The US economy is expected to add 194,000 jobs with the same unemployment rate. Note that A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

All times are GMT

MARKET DATA

UPCOMING ECONOMIC EVENTS

2 COMMENTS

  1. The ISM Non-Manufacturing PMI for December dropped to 53 points, below predictions, but remains above 50…..
    The USD is under pressure , but it will remain biased to the upside in short term ?!!
    Recommendations : buy USD on dips in general …….sell EURUSD & AUDUSD on rallies , buy USDJPY on dipds….

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