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Weekly Market View

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Looking Forward A Brighter Future

Fri, Oct 10 2008, 15:08 GMT
by Tatsuya Kawanishi

FXstreet.com

The coordinate rate cuts failed to halt the uncertainty over the global crisis, which has accelerated the risk aversion strategy. The USD, the JPY and Gold became safe heaven, while the GBP and the EUR remained very weak. The GBP/USD hit its 5 years lowest at 1.6776 in the early European session on Friday Oct 10. The GBP/JPY finally found a support at 165.91. Tense situation still remains in the global financial market. Let's wait and see outcomes of the G7, which might open a new chapter in the Global market.

Alright! let's keep our eyes open for the markets during the week (Oct 12th to Oct 17th).

On Sunday (Oct 12th) we have the following events to watch:

In Switzerland, Retail Sales (Previous -0.8 %) and Core Retail Sales (Previous -0.2 %) are released at 21:45 GMT: There is no further events on Sunday.

On Monday (Oct 13th) we have the following events to watch:

In Switzerland, PPI (Previous -0.5 %) is an event to follow.

In the U.K. PPI Input (Previous -2.0 %), PPI Output (Previous -0.6 %), and RBC Retail Sales Monitor (Previous -1.0 %) are notable events to follow.

On Tuesday (Oct 14th) we have the following events to watch:

In Japan, Household Confidence and Current Account (Previous 1.56 T) are to be taken into account.

In the U.K. CPI (Previous 4.7 %), Core CPI (Previous 2.0 %), and RPI (Previous 4.8%) are important events to watch.

In the Euro zone, Industrial Production (Previous -0.3 %) and ZEW Economic Sentiment (Previous -40.9) are events to monitor.

In Germany, ZEW Economic Sentiment (Previous -41.1) is released at 10:00 GMT.

On Wednesday (Oct 15th) we have the biggest day of the week with the following events:

In Japan, Industrial Production (Previous -3.5 %) is released at 04:30 GMT.

In Germany, CPI (Previous -0.1 %) is scheduled at 06:00 GMT.

In the U.K. Unemployment Rate (Previous 5.5 %) is an important event to monitor.

In the Euro zone, CPI (Previous 3.6 %) and Core CPI (Previous 1.9 %) are remarkable events to follow.

In the U.S. Many significant events that might generate high volatility for the USD against the other majors are released followed by Retail Sales (Previous -0.3 %), Core Retail Sales (Previous -0.7 %), PPI (Previous -0.9 %), Core PPI (Previous 0.2 %), Empire Manufacturing Index (Previous -7.4), and Beige Book. Also, Tentative Speech of the Fed Chairman Bernanke is scheduled.

In New Zealand, Business NZ Manufacturing Index (Previous 45.7) is released at 22:00 GMT.

On Thursday (Oct 16th) we have the following events to watch:

In Switzerland, Retail Sales (Previous 6.2 %) and ZEW Economic Expectations (Previous -44.4) should be taken into account.

In the U.S. Several important events are released followed by CPI (Previous -0.1 %), Core CPI (Previous 0.2 %) TIC Long Term Purchases (Previous 6.1 B), Capacity Utilization Rate (78.7 %), Industrial Production (Previous -1.1 %), Philadelphia Fed Manufacturing Index, and NAHB Housing Market Index (Previous 18).

In Japan, Tertiary Industry Activity Index (Previous 1.2%) is released at 23:50 GMT.

On Friday (Oct 17th) we have the following events to watch:

In Australia, Import Price Index (Previous 1.4%) is scheduled at 00:30 GMT.

In Japan, BoJ Governor Shirakawa will have a press conference at 06:35 GMT. In the Euro zone, Trade Balance (Previous -6.4 B) is an event to monitor.

In the U.S. Building Permit (Previous 0.85 M), Housing Starts (Previous 0.90 M) and Michigan Consumer Sentiment (Previous 70.3) are remarkable events to watch.

Published on  Fri, Oct 10 2008, 15:12 GMT