Welcome to the easyMarkets weekly outlook starting this Monday 06 February. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. Be sure to catch up with our Friday morning report that looks back at how the events played out and with a look at Friday’s events.
Event: Australian Interest Rate Decision
Date: Tuesday 07 February 2017 at 03:30 GMT
Markets affected: AUD/USD, EUR/AUD
Trending hashtags: #aussie, #rba
In December the Reserve Bank of Australia maintained its interest rate at 1.5% while there were no changes to its monetary policy either as expected by the majority of the markets. The central bank said that its decision to maintain current policy and rates was due to slow economic growth. However, the RBA also forecasts that economic conditions might improve as a result to a rise in business confidence.
Event: EIA Crude Oil Stocks Change
Date: Wednesday 08 February 2017 at 15:30 GMT
Markets affected: OIL/USD
Trending hashtags: #crudeoil , #wti, #brent
U.S. inventories increased for the week ended 27 January by 6.466 million barrels and surprised analysts who were expecting an increase by 2.6 million barrels only. Crude oil prices continue at high levels mainly as a result of the weakening U.S. dollar. And although petrol reserves increased by almost 4 million barrels, demand for processed oil fell by 5.6% during the last twelve months. Out of the 6.4 million barrels increase, 530,000 were imports.
Event: RBNZ Interest Rate Decision
Date: Wednesday 08 February 2017 at 20:00 GMT
Markets affected: NZD/USD, NZD/JPY
Trending hashtags: #nzd, #kiwi, #rbnz
The Reserve Bank of New Zealand decided to proceed with an interest rate cut from 2% to 1.75% due to on-going economic uncertainty, including the implementation of new policies in the U.S. and chain effects from Brexit. Nevertheless, the reduction of the interest rate was expected by the markets. The central bank gave suggestions for sensible measures that may boost inflation such as Debt-To-Income (DTI) boundaries. The annualised economic growth of New Zealand reached 3.6% while unemployment fell below 5% and surprised the markets.
Event: U.S. Initial Jobless Claims
Date: Thursday 09 February 2017 at 13:30 GMT
Markets affected: EUR/USD
Trending hashtags: #usd, #jobless
The number of Americans applying for unemployment benefit for the first time was even lower than expectations during the week ended 27 January and this is another indication that the labour market continues to strengthen. The number of new applications fell by 13,000 to 247,000 and beat forecasts made by analysts for 251,000. There are now expectations that this may ultimately lead to wage growth while it is forecasted that initial jobless claims for the week ended 03 February may be 250,000.
Welcome to the easyMarkets weekly outlook starting this Monday 06 February. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. Be sure to catch up with our Friday morning report that looks back at how the events played out and with a look at Friday’s events.
Event: Australian Interest Rate Decision
Date: Tuesday 07 February 2017 at 03:30 GMT
Markets affected: AUD/USD, EUR/AUD
Trending hashtags: #aussie, #rba
In December the Reserve Bank of Australia maintained its interest rate at 1.5% while there were no changes to its monetary policy either as expected by the majority of the markets. The central bank said that its decision to maintain current policy and rates was due to slow economic growth. However, the RBA also forecasts that economic conditions might improve as a result to a rise in business confidence.
Event: EIA Crude Oil Stocks Change
Date: Wednesday 08 February 2017 at 15:30 GMT
Markets affected: OIL/USD
Trending hashtags: #crudeoil , #wti, #brent
U.S. inventories increased for the week ended 27 January by 6.466 million barrels and surprised analysts who were expecting an increase by 2.6 million barrels only. Crude oil prices continue at high levels mainly as a result of the weakening U.S. dollar. And although petrol reserves increased by almost 4 million barrels, demand for processed oil fell by 5.6% during the last twelve months. Out of the 6.4 million barrels increase, 530,000 were imports.
Event: RBNZ Interest Rate Decision
Date: Wednesday 08 February 2017 at 20:00 GMT
Markets affected: NZD/USD, NZD/JPY
Trending hashtags: #nzd, #kiwi, #rbnz
The Reserve Bank of New Zealand decided to proceed with an interest rate cut from 2% to 1.75% due to on-going economic uncertainty, including the implementation of new policies in the U.S. and chain effects from Brexit. Nevertheless, the reduction of the interest rate was expected by the markets. The central bank gave suggestions for sensible measures that may boost inflation such as Debt-To-Income (DTI) boundaries. The annualised economic growth of New Zealand reached 3.6% while unemployment fell below 5% and surprised the markets.
Event: U.S. Initial Jobless Claims
Date: Thursday 09 February 2017 at 13:30 GMT
Markets affected: EUR/USD
Trending hashtags: #usd, #jobless
The number of Americans applying for unemployment benefit for the first time was even lower than expectations during the week ended 27 January and this is another indication that the labour market continues to strengthen. The number of new applications fell by 13,000 to 247,000 and beat forecasts made by analysts for 251,000. There are now expectations that this may ultimately lead to wage growth while it is forecasted that initial jobless claims for the week ended 03 February may be 250,000.
http://www.couriermail.com.au/business/reserve-bank-of-australia-set-to-keep-rates-steady/news-story/bc9e3471ce7ed89e521919808cb6d735
http://oilprice.com/Energy/Crude-Oil/Oil-Prices-Fall-After-Another-Major-Build-In-Inventories.html
https://www.tvnz.co.nz/one-news/new-zealand/reserve-bank-expected-keep-rates-hold-interest-rate-decision-looms
The post Monday 06-02-2017 Outlook appeared first on Forex.Info.
Source: Easy Forex Forex.Info
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