The next time the regulator is set to convene is on 16th-17th December, immediately following the US Fed. It’s likely that the BoJ will leave their monetary policy unchanged. Tomorrow will see the publication of Japanese economic growth figures for the third quarter.
According to data published today, industrial production in Germany throughout October (with correction for seasonal factors) rose 0.2% MoM (forecasted: 0.5%). Growth in industrial manufacturing and in construction was partially nullified by the fall in manufacturing in the energy sector. The industrial manufacturing data was yet another indicator to rise and in doing show shows that German economic growth is speeding up after a weak third quarter. The YoY growth was, however, zero.
The euro/dollar is down slightly to 1.0817 after a growth due to the ECB’s 3rd December decision on monetary policy which wasn’t as extensive as the market had expected. In the long-term, differences between ECB and US Fed monetary policies will push the pair downwards.
Today it’s worth giving some of your attention to what Mark Carney of the Bank of England has to say and then what US Fed member James Bullard has to say.
Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.