Weekly Market View
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Rate cuts approved might be not enough
Fri, Dec 5 2008, 14:42 GMT
by Guillermo Alcalá
FXstreet.com International Traders Conference
ITC Barcelona 09 - Oct. 14-16 with Rob Booker, Valeria Bednarik, James Chen, Kim Cramer Larsson, Markus Heitkoetter, Ashraf Laidi and Andrei Pehar.Interest rate cuts have not been enough to restore confidence in the markets and currencies continued in the tren they were, Dollar and Yen, as safe havens have continued strengthening while The Pound reaches the lowest levels in years against all majors.
To end the week US non-farm payrolls have posted a huge slump in November, -533K instead of the -320 expected, well above a million of workers have lost the jobs in the last three months in the United States, a clear signal that the US is entering a deep and long recession period. In order to boost fast deteriorating economy, the Federal Reserve could approve another rate cut and leave interest rates at the lowest levels in the last 50 years. Interesting times ahead.
Next week we have got several important events to check out:
Sunday December 7
- 23:50 Japan Trade Balance - BOP Basis - October (Previous: ¥247.1B)
Monday December 8
- 09:30 United Kingdom Producer Price Index - November - Input (Previous: -5.6% m/m; 13.8% y/y); Output (Previous: -1% m/m; 6.8% y/y)
- 11:00 Germany Industrial Production - October (Previous: -3.6% m/m; -2.1% y/y)
- 13:00 European Monetary Union ECB Trichet's Speech
- 13:15 Canada Housing Starts s.a - November (Previous: 211.8k)
- 23:50 Japan Gross Domestic Product Annualized - 3Q (Previous: -3%)
Tuesday December 9
- 00:01 United Kingdom BRC Retail Sales Monitor - November (Previous: -2.2%)
- 00:01 United Kingdom RICS House Price Balance - November (Previous: -82%)
- 05:00 Japan Leading Economic Index - October (Previous: 89.4)
- 06:45 Switzerland Unemployment Rate - November (Previous: 2.5%)
- 07:00 Germany Trade Balance - October (Previous: 15B)
- 09:30 United Kingdom Trade Balance - November (Previous: -7.5 Bill.)
- 10:00 Germany ZEW Survey - Economic Sentiment - December (Previous: -53)
- 14:00 Canada BoC Interest Rate Decision (Actual: 2.25)
- 15:00 United States Pending Home Sales - October (Previous: -4.6%)
- 23:30 Australia Westpac Consumer Confidence - December (Previous: 4.3%)
- 23:50 Japan Core Machinery Orders - October (Previous: 5.5%)
Wednesday December 10
- 00:30 Australia Home Loans - October (Previous: -2.7%)
- 10:00 Switzerland ZEW Survey - Expectations - December (Previous: -88.5)
Thursday December 11
- 00:30 Australia Unemployment Rate - November (Previous: 4.3%)
- 08:05 European Monetary Union ECB Trichet's Speech
- 08:30 Switzerland SNB Interest Rate Decision (Current: 1%)
- 09:00 European Monetary Union ECB Monthly Report
- 13:30 United States Trade Balance - October (Previous: -$56.47B)
- 13:30 United States Import Price Index - November (Previous: -4.7% m/m; 6.7% y/y)
- 13:30 Canada New Housing Price Index - October (Previous: 2.1% y/y)
- 21:45 New Zealand Retail Sales - October (Previous: 0.1%; Ex-autos: -0.5%)
Friday December 12
- 04:30 Japan Industrial Production - October (Previous: 1.1% m/m% 0.2% y/y)
- 05:00 Japan Consumer Confidence - November (Previous: 29.8)
- 10:00 European Monetary Union Industrial Production s.a. - October (Previous: -1.6% m/m; -2.4% y/y)
- 13:30 United States Producer Price Index - November (Previous: 5.2 y/y; core: 4.4 y/y)
- 13:30 United States Retail Sales - November ( Previous: -2.8%; ex autos: -2.2%)
- 15:00 United States Reuters/Michigan Consumer Sentiment Index - December (Previous: 55.3)
Published on Fri, Dec 5 2008, 14:46 GMT
Archive
- Historically low interest rates to boost economic recovery
Published On Mon, Jan 12 2009, 09:16 GMT - Historically low interest rates to boost economic recovery
Published On Fri, Jan 9 2009, 15:41 GMT - Central Banks rushing to 0% interest rates
Published On Mon, Dec 22 2008, 09:27 GMT - Central Banks rushing to 0% interest rates
Published On Fri, Dec 19 2008, 16:42 GMT - Auto bailout fails, stock indexes drop
Published On Mon, Dec 15 2008, 09:06 GMT
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
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