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Weekly Market View
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Historically low interest rates to boost economic recovery
Fri, Jan 9 2009, 15:41 GMT
by Guillermo Alcalá
The week we leave behind has reminded us the negative economiic moment we are goingh through, a situation with complicated solutions, we have seen some exampler this week, namely in England ith the Boe cuttin interest rates once again, to 1.5% this time, the lowest Bank Rate since the bank started to set monetary policy in 1694.
In the Euro Area economy continues looking gloomier and gloomier, with unemployment figures rising at a fast pace and industrial production declining as fast. germany, the main economy in the Euro aresa has seen evidence of the decline of its Industrial sector, manufacturing production flass continuously, and factory orders have weakened to historically low levels.
The situation in the U.S. does not show any considerable improvement. The FOMC minutes have described the current situationin rather negative terms, and the employment report this week has confirmed the worst expectations, 2008 has closed with a loss of 2.3 million jobs in the U.S., the wo4rst number since 1945.
next week we have several important indicators, focus will be, mainly in the ECB's monetary policy decision on thursday, the bank lending key rate in the Euro Area is now at 2.5% and rumosr has that the ECB could follow the BoE and trim rates by some 50 b.p. in yet another attempt to kick start economy.
U.S. retail sales will be published on wednesday, an impotrtant indicator to assess the impact of the whole economic downturn upon consumption.
Monday January 12th
- 00:01 United Kingdom NIESR GDP Estimate - December (Previous: -1)
- 23:50 Japan Trade Balance - BOP Basis - November (Previous: ¥1113.2B)
- 23:50 Japan Adjusted Current Account - November (Previous: ¥145B)
Tuesday January 13th
- 00:01 United Kingdom BRC Retail Sales Monitor - All - December (Previous: -2.6%)
- 09:30 United Kingdom Goods Trade Balance - November (Previous: -£7.8B)
- 09:30 United Kingdom Total Trade Balance - November (Previous: -£3.9B)
- 13:00 United States Bernanke speaks at London School of Economics
- 13:30 Canada International Merchandise Trade - December (Previous: $3.78B)
- 13:30 United States Trade Balance - November (Previous: -$57.1B)
- 21:45 New Zealand Building Permits - November (Previous: -21.9%)
Wednesday January 14th
- 10:00 European Monetary Union Industrial Production w.d.a. - November (Previous: -5.3% y/y)
- 13:30 United States Import Price Index - December (Previous: -6.7% m/m; 4.4% y/y)
- 13:30 United States Retail Sales - December (Previous: -1.8% m/m; Ex Autos -1.6%)
- 19:00 United States Fed's Beige Book
- 23:50 Japan Core Machinery Orders - November (Previous: -4.4%)
Thursday January 15th
- 00:30 Australia Unemployment Rate - December - (Previous: 4.4%)
- 07:00 Germany Consumer Price Index - December (Previous: -0.5% m/m; 1.4% y/y)
- 09:00 European Monetary Union Consumer Price Index - December (Previous: -0.5% m/m; 2.1% y/y)
- 12:45 European Monetary Union ECB Interest Rate Decision (Previous: 2.5%)
- 13:30 European Monetary Union ECB Trichet's Speech
- 13:30 United States NY Empire State Manufacturing Index - December (Previous: -25.76)
- 13:30 United States Producer Price Index - December (Previous: -2.2% m/m; 0.4% y/y)
- 15:00 United States Philadelphia Fed Manufacturing Survey - January (Previous: -32.9%)
Friday January 16th
- 00:30 Japan BoJ's Governor Shirakawa Speech
- 08:15 Switzerland Producer and Import Prices - December (Previous: -1.4% m/m; 1.1% y/y)
- 10:00 European Monetary Union Trade Balance n.s.a. - November (Previous: €0.9B)
- 13:30 United States Consumer Price Index - December (Previous: -1.7% m/m; core CPI: 0.0% m/m; 2.0% y/y)
- 14:00 United States Net Long-term TIC Flows - November (Previous: $1.5B)
- 14:15 United States Industrial Production - December (Previous: -0.6% m/m)
- 15:00 United States Reuters/Michigan Consumer Sentiment Index Preliminary - January (Previous: 60.1)
Published on Fri, Jan 9 2009, 15:44 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.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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