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US Open Preview– Dollar flat as equity meltdown spreads to European stocks
February 6, 2018 1:26 pmVideo
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Day ahead: Global dairy prices & employment data to move kiwi
Looking ahead to the rest of the day, the US, Canada, and New Zealand are scheduled to report on economic figures.
Global dairy prices will be awaited at 1400 GMT (tentative time) to bring some volatility to the kiwi after the measure surged by 4.9% at the previous global trade auction. The currency will also attract some attention at 2145 GMT when employment data out of New Zealand will come into light. According to forecasts, the number of employees is said to increase at a slower pace of 0.2% in the fourth quarter of 2017 compared to 2.2% expansion seen in the previous quarter, while the unemployment rate is projected to remain unchanged at 4.6%, the lowest rate recorded since the fourth quarter of 2008. Regarding labor costs, these are anticipated to keep rising by 1.9% y/y as in the third quarter but slow down to 0.5% q/q.
Stats on trade balance and December’s JOLTs job openings will be out of the US at 1330 GMT and 1500 GMT respectively, whilst the American Petroleum Institute will give an update on the US crude oil stocks for the week ending February 2 at 2135 GMT.
In Canada, trade data for the month of December will be in focus at 1330 GMT before January’s Ivey PMIs come into view at 1500 GMT.
Turning to today’s public appearances, the St. Louis Fed President James Bullard will be giving a presentation on the US economy and monetary policy before the 29th Annual Gatton College of Business and Economics Economic Outlook Conference at 1350 GMT.
Stock markets will see further earnings releases today.
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