Analysis and Recommendations: The EUR/USD gained 25 points as the greenback weakened a bit in the European session to trade at 1.0667. Traders are
The EUR/USD gained 25 points as the greenback weakened a bit in the European session to trade at 1.0667. Traders are cautious ahead of two speeches today from FOMC members, housing data and the release of the FOMC minutes late in the session. The euro remains at the mercy of the US dollar gaining today as the dollar adjusted and corrected. The divergence between two of the biggest forces in the world economy has the effect of weakening the euro against the dollar, providing a valuable boost to economic growth in Europe at a time of mounting uncertainty. For the more solid U.S. economy, it is creating an unwelcome headwind.
Lloyds Bank report out today stated that: “These may be seen as somewhat out of date as the meeting took place before the strong October labour market report. Nevertheless, what lay behind the unexpectedly hawkish post meeting press statement is still of interest. In particular, markets will be looking for evidence on how ready the majority of members are to raise interest rates in December and the extent of any opposition to such a move.”
“US housing starts and building permits will provide a further update on the strength of the housing market. Housing sales have picked up this year and, as a result, construction has also accelerated. After a surge in September, concentrated in the volatile multi-unit sector, starts are expected to have fallen in October. However, a solid rise in permits should point to further construction increases in the pipeline.”
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Today’s economic releases:
Cur. |
Event |
Actual |
Forecast |
Previous |
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USD |
FOMC Member Tarullo Speaks |
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USD |
API Weekly Crude Oil |
-0.482M |
1.800M |
6.300M |
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AUD |
RBA Assist Gov Debelle Speaks |
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AUD |
Wage Price Index (QoQ) (Q3) |
0.6% |
0.6% |
0.6% |
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USD |
FOMC Member Lockhart Speaks |
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Upcoming Economic Events that you should be monitoring:
Thursday, November 19, 2015
Cur. |
Event |
Actual |
Forecast |
Previous |
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NZD |
PPI Input (QoQ) (Q3) |
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|
-0.3% |
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JPY |
Adjusted Trade Balance |
|
-0.38T |
-0.36T |
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JPY |
Exports (YoY) (Oct) |
|
-2.1% |
0.6% |
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JPY |
Trade Balance (Oct) |
|
-292B |
-115B |
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JPY |
BoJ Press Conference |
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EUR |
German Buba President Weidmann |
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GBP |
Core Retail Sales (MoM) (Oct) |
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-0.5% |
1.7% |
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GBP |
Core Retail Sales (YoY) (Oct) |
|
3.9% |
5.9% |
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GBP |
Retail Sales (MoM) (Oct) |
|
-0.5% |
1.9% |
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GBP |
Retail Sales (YoY) (Oct) |
|
4.2% |
6.5% |
|
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GBP |
CBI Industrial Trends Orders (Nov) |
|
-10 |
-18 |
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EUR |
Monetary Policy Meeting |
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USD |
Initial Jobless Claims |
|
271K |
276K |
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USD |
Philadelphia Fed Manufacturing Index |
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-1.0 |
-4.5 |
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USD |
Philly Fed Employment (Nov) |
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-1.7 |
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USD |
FOMC Member Lockhart Speaks |
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Government Bond Auctions
Date Time Country
Nov 19 10:30 Spain 0.25% Apr 2018 Bono, 1.15% Jul 2020 Bono, 5.4% Jan 2023
Nov 19 10:50 France Eur 7-8bn; 4.25% Oct 2018 OAT, 0.25% Nov 2020 OAT, 2.25%
Nov 19 11:50 France Eur 1-1.5bn; 0.25% Jul 2024, 1.85% Jul 2027, 3.15% Jul 2032
Nov 19 N/A US Holds 10-year TIPS auction
Nov 20 16:30 Italy Announces details of CTZ/BTPei on 25 Nov
Nov 23 12:00 Belgium Auctions OLOs
Nov 23 N/A US Holds 2-year note auction
Nov 24 17:30 Italy Announces details of BTPs/CCTeu on 27 Nov
Nov 24 N/A Holland Eur 1.0-2.0bn 0.25% Jul 2025 DSL
Nov 24 N/A US Holds 5-year note auction
Nov 25 11:03 Sweden Holds bond auction
Nov 25 11:10 Italy Auctions CTZ/BTPei
Nov 25 11:30 Germany Eur 3bn 1.0% Aug 2025 Bund
Nov 25 N/A US Holds 2-year FRN auction
Nov 25 N/A US Holds 7-year note auction
Nov 26 11:03 Sweden Holds bond auction
Nov 27 11:03 Sweden Holds bond auction
Nov 27 11:10 Italy Auctions BTPs/CCTeus