07/11/2017 - microsoft › pdfs › fa 11 nove.pdf · base points to resume zigzagging between...
TRANSCRIPT
07/11/2017
Major Events of the Week 30 October - 3 November
Time (GMT) Flag Currency Event Period Actual Forecast Previous
MONDAY, 6 NOVEMBER
2:00 AM NZD Inflation Expectations q/q Q3 2.0% - 2.10%
3:00 PM CAD Ivey PMI October 63.8 60.2 59.6
TUESDAY, 7 NOVEMBER
3:30 AM AUD RBA Interest Rate Decision Nov-07 1.50% 1.50% 1.50%
7:00 AM EUR German Industrial Production m/m September -1.6% -0.8% 2.6%
3:00 PM USD JOLTS Job Openings September 5.98M 6.08M
WEDNESDAY, 8 NOVEMBER
8:00 AM EUR Non-Monetary Policy's ECB Meeting Nov-08 - -
8:00 PM NZD RBNZ Interest Rate Decision Nov-08 1.75% 1.75%
THURSDAY, 9 NOVEMBER
1:30 PM CAD NHPI m/m September 0.2% 0.1%
FRIDAY, 10 NOVEMBER
9:30 AM GBP Manufacturing Production m/m September 0.3% 0.4%
USD/CAD: Ivey Purchasing Managers Index
The Canadian Dollar appreciated slightly against the US Dollar on
Monday, following an upbeat Ivey PMI release. The USD/CAD currency
pair halted an upward trend rebounding from the 1.2780 mark to fall
further below the Friday low of 1.2734.
The Richard Ivey School of Business reported that its PMI index for the
purchasing activity in Canada climbed to the strongest level in 21 months
in October. The Ivey PMI rose to a seasonally adjusted rate of 63.8 in the
reported period, up from 59.6 registered in September, due to an
increase in prices and inventories. The PMI report as well as labour
market data provided good signs for Canada, despite the economy
entering the second half of the year at a slightly weaker pace.
Historical Data Table: Ivey PMI
Date 07.07.2017 04.08.2017 07.09.2017 06.10.2017 06.11.2017
Actual 61.6 60.0 56.3 53.9 63.8
Forecast 57.7 59.2 61.3 56.0 60.2
Initial Reaction on Main Pairs
Open Price Close Price % Change
AUD/CAD 0.97887 0.97851 -0.04%
CAD/CHF 0.78304 0.78344 0.05%
EUR/CAD 1.48029 1.47948 -0.05%
USD/CAD 1.27774 1.27715 -0.05%
AUD/USD: RBA Interest Rate Decision
The AUD/USD currency pair rose slightly on the RBA interest rate
statement showing no changes monetary policy. The Aussie added 12
base points to resume zigzagging between 0.7680 and 0.7695 marks.
The Reserve Bank of Australia kept its key interest rate at 1.50% for 15th
month in succession, as inflation continued lagging behind surging labour
market and stronger global economic growth. The Bank’s Governor
Philip Lowe suggested that interest rates remaining at their low level are
likely to keep supporting the Australian economy on the way to
achieving consumer price growth closer to the 2% target. Moreover, the
Australian Dollar was still elevated, being a headwind to the country’s
stronger economic expansion.
Historical Data Table: RBA Interest Rate Decision
Date 04.07.2017 01.08.2017 05.09.2017 03.10.2017 07.11.2017
Actual 1.50% 1.50% 1.50% 1.50% 1.50%
Forecast 1.50% 1.50% 1.50% 1.50% 1.50%
Initial Reaction on Main Pairs
Open Price Close Price % Change
AUD/JPY 87.485 87.633 0.17%
AUD/USD 0.7683 0.76949 0.15%
EUR/AUD 1.51188 1.50949 -0.16%
GBP/AUD 1.71514 1.71235 -0.16%
EUR/USD: German Industrial Production
The Euro lost yesterday’s gains against the Greenback, after the
disappointing report on German industrial production came in. The EUR/
USD exchange rate fell 10 base points to the 1.1592 mark.
German industrial output dropped twice as much as anticipated in
September, following a strong increase in the prior month. The
Germany’s Economy Ministry stated that country’s industrial production
fell 1.6% for the month, though still expanded 0.8% on a quarterly basis.
In addition, data revealed that solid demand from other EZ countries for
capital goods such as vehicles and machines contributed to a surprise
rise in September’s industrial orders, suggesting the industrial output to
increase in the coming months.
Historical Data Table: German Industrial Production m/m
Date 07.07.2017 07.08.2017 07.09.2017 09.10.2017 07.11.2017
Actual 1.2% –0.1% 0.0% 2.6% -1.6%
Forecast 0.2% 0.2% 0.5% 0.9% -0.7%
Initial Reaction on Main Pairs
Open Price Close Price % Change
EUR/USD 1.16025 1.15928 -0.08%
EUR/GBP 0.8822 0.88165 -0.06%
EUR/CHF 1.1591 1.15915 0.00%
EUR/JPY 132.406 132.32 -0.06%
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