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Weekly Analysis
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Weekly Analysis
Tue, Aug 5 2008, 07:35 GMT
by Benny Menashe
This week we will have various economic data releases that will affect the market. On Tuesday the 5th we will have the Australian Cash Rate and RBA Statement, From the UK we will have the Halifax HPI, Manufacturing Production and service PMI. From the U.S there will be the ISM Non-Manufacturing Composite, FOMC Statement and Federal Funds Rates. On Wednesday the 6th we will have the Australian Home Loans, Canadian Ivey PMI and New zelands Employment Change and Unemployment rate. On Thursday the 7th we will have the Australian Employment Change and Unemployment Rate, the UK’s MPC Rate Statement and Official Bank Rate, the Euro’s Minimum Bid Rate and ECB Press Conference, the Canadian Building Permits and U.S Pending Home sales. On Friday the 8th we will have the Canadian Employment Change and Unemployment Rate.
In other news the dollar fell from a one-month high against the euro as stocks declined amid concern losses in U.S. credit markets may widen. ``The dollar is very fragile for now,'' said Hidetoshi Yanagihara, senior currency trader at Mizuho Corporate Bank in New York. ``Stocks are falling and there's some bad news from the financial sector.'' U.S. consumer spending rose 0.6 percent in June following a 0.8 percent increase in May, the Commerce Department said in Washington today. The British currency declined to its lowest level versus the euro in almost a week after an index based on a survey of purchasing managers at building companies dropped in July to its lowest level since the series began in April 1997. Construction accounts for 6 percent of the economy. ``The data show that the economy is very weak and it means that interest rates are not going to stay at this level forever,'' said Hans-Guenter Redeker, the London-based global head of currency at BNP Paribas SA, France's biggest bank.
Today's Economic Events
| Time | Event | Currency | Period | Previous | Forecast | Significance | Actual |
| 14:00 | Factory Orders m/m | USD | Jun | 0.60% | 0.70% | 2 | 1.70% |
| 12:30 | Core PCE Price Index m/m | USD | Jun | 0.20% | 0.20% | 2 | 0.30% |
| 12:30 | Personal Spending m/m | USD | Jun | 0.80% | 0.50% | 2 | 0.60% |
| 12:30 | Personal income | USD | Jun | 1.80% | -0.10% | 1 | 0.10% |
| 09:00 | PPI m/m | EUR | Jul | 1.20% | 0.80% | 1 | 0.90% |
| 08:30 | Sentix Index | EUR | Jul | -9.3 | -10 | 1 | -15.3 |
| 08:30 | Construction PMI | GBP | Jul | 38.8 | 37.6 | 2 | 36.7 |
| 07:30 | PMI -SVME | CHF | Jul | 54.9 | 53.4 | 2 | 54.1 |
| 01:30 | Household Confidence | AUD | Jul | 0.40% | -1.10% | 1 | -0.30% |
Published on Tue, Aug 5 2008, 07:41 GMT
Archive
- RBS says Sell the USD/CAD as the bank of Canada may increase the rate
Published On Tue, Oct 13 2009, 10:02 GMT - Shares set to rebound this week as good market news seen on the horizon
Published On Tue, Oct 6 2009, 08:49 GMT - The British Pound edges upwards as the GDP figures come out slightly better than
Published On Fri, Aug 28 2009, 14:25 GMT - The Dollar falls to $1.40 against the Euro for the first time since January
Published On Wed, May 27 2009, 06:58 GMT - Investors should avoid betting the dollar will keep falling
Published On Tue, May 12 2009, 06:36 GMT
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