Economic Events 30/08/2013

00:00 KRW South Korean Industrial Production (YoY)

Forecast:                                Previous: 2.6%

 Industrial  Production  measures  the  change  in  the  total  inflation-adjusted  value  of  output produced by manufacturers, mines, and utilities.

 00:00 KRW South Korean Industrial Production (MoM)

Forecast:                                Previous: 0.4%

 Industrial  Production  measures  the  change  in  the  total  inflation-adjusted  value  of  output produced by manufacturers, mines, and utilities.

 00:30 JPY Tokyo Core CPI (YoY)

 Forecast: 0.4%                      Previous: 0.3%

 The Tokyo Core Consumer Price Index (CPI) measures the change in the price of goods and services purchased by consumers in Tokyo, excluding fresh food.

 00:30 JPY Tokyo CPI (YoY)

 Forecast:                                Previous: 0.4%

The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer at the metropolitan area of Tokyo. It is a key way to measure changes in purchasing trends and inflation. The impact on the currency may go both ways, a rise in CPI may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in CPI may lead to a deepened recession and therefore a fall in local currency.

07:00 GBP Nationwide HPI (MoM)

 Forecast: 0.6%                      Previous: 0.8%

The Nationwide Housing Price Index (HPI) measures the change in the selling price of homes with  mortgages  backed  by  Nationwide.  It  is  the  U.K.’s  second  earliest  report  on  housing inflation.

 08:00 CHF KOF Leading Indicators

Forecast: 1.33                        Previous: 1.23

The KOF Leading Indicators Index is designed to predict the direction of the economy over the following six months. The index is a composite reading of 12 economic indicators related to banking confidence, production, new orders, consumer confidence and housing.

 09:00 NOK Core Retail Sales (MoM)

Forecast: 0.2%                      Previous: 0.2%

Retail sales data represents total consumer purchase from retail stores. It provides valuable information about consumer spending which makes up the consumption part of GDP.

 09:00 NOK Norwegian Unemployment Rate

Forecast: 3.4%                      Previous: 3.4%

LFS- Labour Force Survey. Three-months moving average. Employed persons are persons aged 16-74 who performed work for pay or profit for at least one hour in the survey week, or who were temporarily absent from work because of illness,holidays etc. Conscripts are classified as employed persons. Persons engaged by government measures to promote employment are also included if they receive wages. Unemployed persons are persons who were not employed in the survey  week,but  who  had  been  seeking  work  during  the  preceding  four  weeks,  and  were available for work within the next two weeks. Persons in the labour force are either employed or unemployed. The remaining group of persons is labelled not in the labour force. Unemployed persons and persons not in the labour force constitute the group non-employed persons.

10:00 EUR Unemployment Rate

 Forecast: 12.1%                    Previous: 12.1%

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. The data tends to have a muted impact as there are several earlier indicators related to labor conditions in the euro zone.

 13:00 BRL Brazilizan GDP (YoY)

Forecast: 2.5%                      Previous: 1.9%

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

 13:00 BRL Brazilizan GDP (QoQ)

Forecast: 0.9%                      Previous: 0.6%

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

 13:00 INR Indian GDP Quarterly (YoY)

Forecast:                                Previous: 4.8%

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

13:30 CAD GDP (MoM)

 Forecast: 1.0%                     Previous: 0.2%

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. Canada releases fresh GDP data on a monthly basis.

 13:30 CAD GDP (QoQ)

Forecast:                                Previous: 0.6%

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

 13:30 CAD GDP Annualized (QoQ)

Forecast: 2.0%                      Previous: 2.5%

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

 13:30 USD Core PCE Price Index (MoM)

Forecast: 0.2%                      Previous: 0.2%

The Core Personal Consumption spending (PCE) Price Index measures the changes in the price of goods and services purchased by consumers for the purpose of consumption, excluding food and energy. Prices are weighted according to total expenditure per item. It measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

13:30 USD Personal Spending (MoM)

 Forecast: 0.3%                      Previous: 0.5%

 Personal Spending measures the change in the inflation-adjusted value of all spending by consumers. Consumer spending accounts for a majority of overall economic activity. However, this report tends to have a mild impact, as government data on retail sales is released about two weeks earlier.

 14:45 USD Chicago PMI (MoM)

 Forecast: 53.0                        Previous: 52.3

 The Chicago Purchasing Managers’ Index (PMI) determines the economic health of the manufacturing sector in Chicago region. A reading above 50 indicates expansion of the manufacturing sector; a reading below indicates contraction. The Chicago PMI can be of some help in forecasting the ISM manufacturing PMI.

 14:45 USD Personal Spending (MoM)

 Forecast: 80.5                        Previous: 80.0

 The University of Michigan Consumer Sentiment Index rates the relative level of current and future economic conditions. There are two versions of this data released two weeks apart, preliminary and revised. The preliminary data tends to have a greater impact. The reading is compiled from a survey of around 500 consumers

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Daily Market Review 30/08/2013

Asian stocks have risen while oil prices tumbled as a possible U.S. military strike on Syria has become less likely, while the dollar remained not far from a three-week high against an array of foreign currencies.

While most regional emerging market currencies scratched were back down today, the damage for the month was extensive as investors positioned for the U.S. Federal Reserve to potentially begin tapering its asset-buying stimulus next month.

European markets could feel the pinch of weaker heavyweight energy shares, but are expected to be little-changed at the open after rallying on yesterday, while U.S. intervention in Syria in response to what Western governments believe was President Bashar al-Assad’s use of chemical weapons looked set to be delayed at least until United Nations investigators report back after leaving Syria tomorrrow.

On Thursday, Britain’s parliament rejected British participation in any military action against Syria, while China said there should be no rush to force U.N. Security Council action against Syria until the U.N. inspectors’ investigation is complete. U.S. Defense Secretary Chuck Hagel said today that America will continue to seek out an international coalition to act together on Syria.

The dollar index was slightly lower today at 81.916, after rising as high as 82.067 yesterday, its highest level this month, U.S. data overnight has shown the U.S. economy grew at a quicker-than-expected annual pace in the second quarter. Combined with a fall in weekly social security claims, this growth reinforced expectations that the Fed is gearing up to reduce its stimulus.

In Asia, Japan’s benchmark Nikkei stock average bucked the regional trend on Friday and surrendered early gains, losing 0.5 percent and ending both the week and month with respective losses of about 2 percent despite government data that painted a brighter economic picture. Rising prices, falling unemployment, higher incomes and factory activity gathering momentum pointed to an ongoing recovery in the world’s third-largest economy. Against the safe-haven Japanese yen, the U.S. dollar lost 0.2 percent to 98.13 yen.

The Indian rupee and the Indonesian Rupiah have both continued to plummet to to hideous lows, with the currencies losing 10 percent and 6 percent against the U.S. dollar respectively.

In commodities, crude oil prices fell 0.7 percent to $114.31 a barrel after spiking to a six-month high on Wednesday on fears that any foreign military action in Syria would destabilize the Middle East. Gold has lost 0.1 percent to around $1,406.29 an ounce, moving away from a 3-1/2 month high hit on Wednesday. Copper prices have gained 0.5 percent at $7,185 a tonne after reaching its lowest price in almost three weeks due to a stronger USD, concerns about the Middle East and substantial holdings.

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Economic Events 29/08/2013

 02:30 AUD Private New Capital Expenditure (QoQ)

 Forecast: 1.0%                        Previous: 4.7%

 Private New Capital Expenditure measures the change in the total inflation-adjusted value of new capital expenditures made by private businesses. It is a leading indicator of economic health.

 08:15 CHF Employment Level

 Forecast: 4.17M                      Previous: 4.15M

 The Employment Level measures the number of people employed during the previous quarter. Job creation is an important indicator of consumer spending.

 08:55 EUR German Unemployment Change

 Forecast: –5K                           Previous: 7K

 German Unemployment Change measures the change in the number of unemployed people during the previous month.

 13:00 EUR German Unemployment Rate

 Forecast: 6.8%                        Previous: 6.8%

 The  German  unemployment  rate  measures  the  percentage  of  the  total  work  force  that  is unemployed and actively seeking employment during the reported month.

 13:00 EUR German CPI (MoM)

 Forecast: 0.1%                        Previous: 0.5%

 The German Consumer Price Index (CPI) measures the changes in the price of goods and services purchased by consumers.

 13:30 EUR German CPI (YoY)

 Forecast: 1.7%                        Previous: 1.9%

The German Consumer Price Index (CPI) measures the changes in the price of  goods and services purchased by consumers.

 13:30 CAD Current Account

Forecast: 15.0B                    Previous: 14.1B

The Current Account index measures the difference in value between exported and imported goods, services and interest payments during the reported month. The goods portion is the same as the monthly Trade Balance figure. Because foreigners must buy the domestic currency to pay for the nation’s exports the data can have a sizable affect on the CAD.

 13:30 USD Continuing Jobless Claims

Forecast: 2,980K                   Previous: 2,999K

Continuing Jobless Claims measures the number of unemployed individuals who qualify for benefits under unemployment insurance.

 13:30 USD GDP (QoQ)

Forecast: 2.2%                      Previous: 1.7%

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

 13:30 USD GDP Price Index (QoQ)

Forecast: 0.7%                      Previous: 0.7%

The GDP Price Index measures the annualized change in the price of all goods and services included in gross domestic product.It is the broadest inflationary indicator.

 13:30 USD Initial Jobless Claims

Forecast: 330K                      Previous: 336K

Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

23:45 AUD Building Concerts (MoM)

 Forecast:                                Previous: 4.0%

 Building Consents (also known as Building Permits) measures the change in the number of new building consents issued by the government. Building consents are a key indicator of demand in the housing market.

 Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Daily Market Review 29/08/2013

Asian shares have recouped some of the two previous sessions’ steep losses today as fears that a U.S.-led armed forces contingent would soon launch a military strike on Syria subsided, causing oil prices to retreat from a six-month peak.

Emerging market currencies are now stabilizing after recent bloodbath trading days, with the Indian rupee coming off a record low after the central bank moved to provide U.S. dollars directly to oil companies, offering the currency some relief.

The board of Bank Indonesia is expected to announce an increase in its policy rates after a hastily-called meeting staunch the losses of the nation’s plunging currency. The bounce in stocks and emerging market currencies could be short-lived, however, with traders remaining on edge as the United States sketched out plans for a mutli day, multinational campaign of air strikes on Syria.

European shares were anticpated to open slightly weaker, with Britain’s FTSE 100 seen down around 0.1 percent and Germany’s DAX down around 0.2 percent ahead of consumer price data.

U.S. stocks rose overnight as energy shares rallied on the back of higher oil prices. This helped address trader concerns in Asia, with MSCI’s broadest index of Asia-Pacific shares outside Japan up 1 percent after falling 2.2 percent in the previous two sessions.

In Japan, the Nikkei share average advanced 0.8 percent in limited trade, helped by the yen giving up some of its recent gains. The paring of yen positions also helped the euro edge off a 1-1/2 week low. The dollar last bought 97.70 yen, having risen from 96.81, while the euro traded at 130.105 yen, up from 129.66.

In emerging markets, the Indian rupee firmed 1.7 percent from a record lowm however traders have indicated that central bank measures alone would not lead to a sustained rupee recovery unless the government can pass measures to reassure foreign markets of the currency’s stablitiy.

Elsewhere, Brazil raised its benchmark interest rate to a 16-month high of 9 percent in part to help shore up its currency.

The Indonesian rupiah edged up 0.1 percent on Thursday, though not too far from its lowest since April 2009, while Jakarta shares added 0.4 percent and Indonesia’s five-year credit default swaps, insurance-like contracts to hedge against debt default, tightened by about 10 basis points to 272/290 basis points.

In commodities, crude oil prices fell 0.7 percent below $116 a barrel after climbing 2.6 percent to a six-month high on yesterday on concerns that any Western military strike could prompt retaliation and disrupt crude supply in the Middle East region. Gold has softened 0.5 percent to around $1,410 an ounce after gaining 1.2 percent to a 3-1/2 month high.

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Daily Market Review 28/08/2013

Concern over a possible U.S.-led military strike against the Syrian government have sent Asian equities spiralling to a seven-week low on today, while pushing oil prices and safe-haven gold to multi-month highs.

An acute ‘risk-off’ mode has also boosted the appeal of the Japanese yen, which held near a one-week high against the dollar and euro after having posted its biggest rally in more than two months.

Poor trader sentiment has seen emerging currencies extend their sharp selloff, with both the Indian rupee and Turkish lira hitting record lows, just as investors were pulling out ahead of an expected cut back in stimulus by the U.S. Federal Reserve, possibly as soon as next month.

European stocks were expected to open lower this morning, with Britain’s FTSE 100 seen down as much as 0.6 percent and Germany’s DAX indicated down 0.5 percent, according to analysts.

The big moves in markets came as Washington and its allies are gearing up for a probable military action against President Bashar al-Assad’s forces, which were blamed for last week’s chemical weapons attacks. Western officials told the Syrian opposition to expect a strike within days, and U.S. Defense Secretary Chuck Hagel said American forces in the region were “ready to go” if President Barack Obama gives the order.

Overnight, U.S. and European stocks suffered their worst day since June, and investor nervousness was reflected in a nearly 12 percent jump on the CBOE volatility index .VIX, Wall Street’s so-called fear gauge, to a two-month high.

Tokyo’s Nikkei Index fell as much as 2.6 percent to a two-month low, while the yen was largely steady at 97.120 to the dollar and 129.90 to the euro after climbing more than 1 percent overnight, while MSCI’s broadest index of Asia-Pacific shares outside shed 1.7 percent, hitting its lowest level since July 9 and extending the previous session’s 1.2 percent drop.

Emerging markets have been reeling for the past few weeks on expectations that the Fed will reduce its $85 billion a month bond-buying program as soon as September. Indonesian shares tumbled as much as 3.3 percent to a 14-month trough today, while Philippine stocks sank 5.3 percent, hitting a more than eight-month low, and Thai equities dropped 2.5 percent to a near one-year low. Elsewhere in emerging markets, the Indian rupee hit a record low to below 68 per dollar after logging its biggest single-day fall in nearly 18 years yesterday after the lower house of Parliament approved a nearly $20 billion plan to provide cheap grain to the poor, raising concerns the fiscal deficit will blow out even further. Other emerging market currencies were also battered, with the Thai baht falling to a low of 32.28 per dollar, its weakest level in three years, and the Turkish lira slumping to a record low of 2.0605 to the dollar.

Heightened geopolitical risk in the Middle East has driven increases in commodities prices, with crude oil increasing 2.4 percent to a six-month high of $117.14 a barrel, while gold climbed 0.8 percent to a more than three-month high after also gaining 0.8 percent on Tuesday.

 

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Economic Events 28/08/2013

02:30 AUD Construction Work Done (QoQ)

 Forecast: 1.6%                      Previous: 2.0%

 Construction Work Done measures the change in the total value of completed construction projects.  It  provides  an  early indication  of  trends  in  building  and  engineering  construction activity. The data is an estimate, based on a survey of approximately 80% of the value of both building and engineering work done during the quarter.

 07:00 EUR GfK German Consumer Climate

 Forecast: 7.1                          Previous: 7.0

 The Gfk German Consumer Climate Index measures the level of consumer confidence in economic activity. The data is compiled from a survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions.

 11:00 GBP CBI Distributive Trades Survey

 Forecast: 19                           Previous: 17

 The Confederation of British Industry (CBI) Distributive Trades Survey (DTS) measures the health of the retail sector. The reading is compiled from a survey covering 20,000 firms responsible for 40% of employment in retailing. It includes measures of sales activity across the distributive trades. It is a leading indicator of consumer spending. The figure is the difference between the percentage of retailers reporting an increase in sales and those reporting a decrease.

 15:00 USD Pending Home Sales (MoM)

 Forecast: 0.1%                      Previous: 0.4%

 The National Association of Realtors (NAR) Pending Home Sales Report measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Daily Market Review 27/08/2013

Uncertainty about the possibility of military action against the Syrian government lifted oil towards a five-month high today, and has undercut share prices and spurred demand for safe-haven assets such as the Japanese yen. Traders have indicated that the moves, spurred by reports from Washington that a strike may be imminent, were not massive as investors are waiting to see how the situation unfolds.

U.S. Secretary of State John Kerry, in the most forceful reaction yet to the alleged gas attack on August 21 outside Damascus, has set the stage for possible action by saying President Barack Obama “believes there must be accountability for those who would use the world’s most heinous weapons against the world’s most vulnerable people.”

Kerry said Obama was consulting with allies before he decides on how to respond and those comments saw U.S. stocks end 0.4 percent lower in light volumes on Monday. The share selloff started the move into safer assets with the yen rising broadly to leave the greenback down 0.4 percent at 98.07 yen and the Australian dollar down 0.8 percent to 88.25 yen.

The euro has fallen 0.3 percent against the Japanese unit though it was steady against the dollar at $1.3372, while European shares are down 0.6 pct in early trading following a drop of 1.2 percent across Asian markets outside Japan. Tokyo’s Nikkei has ended 0.7 percent lower, while the safe-haven yen rose broadly.

Traders in Europe are expecting some good news on the economic front which could ease the nervousness in the market. While Italy’s main share index was in positive territory, rising 0.4 percent after falling about 0.8 percent on Monday on concern over the stability of the ruling coalition, with Silvio Berlusconi’s centre-right party threatening to bring down the government.

Emerging markets remain in a state of near paralysis, hit hard by doubts over the Syrian situation, which added to market pressures on near neighbor Turkey and sent the Turkish currency, the lira, slumping to a record low.

In Asia, the Indian rupee and the Malaysian ringgit were notable movers for all the wrong reasons. The rupee has hit a record low at 65.71 per dollar, while the ringgit has reached a three-year low around 3.3300 per dollar.

In commodities, traders are avoiding copper, which has dropped 0.4 percent to $7,332 a tonne (1.1023 ton). Gold has fallen to $1,399 an ounce, having reached an 11-week peak above $1,406 yesterday. It has rallied more than $200 since the end of June when prices troughed at three-year lows. Crude oil for October delivery is hovering around $111 a barrel, just under yesterday’s high of $111.68, which was its highest price since April 2.

DisclaimerThe information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Economic Events 27/08/2013

09:00 EUR German Business Expectations

Forecast: 103.0                           Previous: 102.4

German Business Expectations rates the expectations of businesses in Germany for the following six months. It is is a sub-index of the German Ifo Business Climate Index.

09:00 EUR German Current Assessment

Forecast: 110.9                           Previous: 110.1

The German Current Assessment rates current business conditions in Germany, without considering future expectations. It is a sub-index of the German Ifo Business Climate Index.

 09:00 EUR German Ifo Business Climate Index

Forecast: 107.0                      Previous: 106.2

The German Ifo Business Climate Index rates the current German business climate and measures expectations for the next six months. It is a composite index based on a survey of manufacturers, builders, wholesalers and retailers. The index is compiled by the Ifo Institute for Economic Research.

 15:00 USD CB Consumer Confidence

Forecast: 79.0                        Previous: 80.3

Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.

Daily Market Review 26/08/2013

Asian stocks have risen whilst gold has approached a three month high today, extending moves started late last week when a steep drop in U.S. new home sales tempered expectations the Federal Reserve will soon reduce stimulus. Trading has been limited, particularly in the currency markets, as investors await fresh offshore leads amid a lack of market-moving economic news out of Asia.

The MSCI’s index of Asia-Pacific shares outside Japan climbed 0.5 percent, adding to last week’s 0.8 percent gain. Hong Kong’s Hang Seng index advanced 0.7 percent, Australia’s S&P/ASX 200 index edged up 0.2 percent and South Korea’s KOSPI gained a full percentage point..

European stocks are following on from gains in Asia.  Tokyo’s Nikkei index closed just a touch down, partly weighed by concerns about whether the government will raise the consumption tax as planned.

Today’s gains for most Asian markets came as a welcome relief after the MSCI index was left reeling by a substantial 2.9 percent hit last week. Much of the impact was felt in the region’s emerging markets as investors pulled out of crowded trades in preparation for a post-stimulus economy. Last week Indonesian stocks posted an 8.7 percent fall in their biggest drop since September, 2011. They were flat in late trade today, having climbed as much as 0.6 percent earlier.

India, Indonesia and Brazil have all attempted to stem the destabilizing fiscal outflows that have slammed their currencies sharply lower, with the rupee skidding to record lows recently. Global central bankers at the Fed’s annual Jackson Hole policy conference were warned that global financial stability is at risk as ultra-easy policies that have flooded the world with cash are slowly unwound. Analysts have indicated that uncertainty about when and how these policies will be phased out meant that market volatility will likely remain high.

Data out on Friday showed sales of new U.S. single-family homes fell to their lowest in nine months, raising doubts about whether the Fed can afford to start to pull back next month, giving traders an excuse to buy back severely beaten-down assets. While the housing data is helping stocks and gold to recover for now, it weighed on the dollar. The dollar index, was flat at 81.355, having slipped 0.2 percent by the end of last week.

Against the yen, the dollar traded at 98.56 off Friday’s peak of 99.15, while the euro bought $1.3382, having climbed as high as $1.3410.

In the commodities market, gold briefly traded above $1,400 an ounce for the first time since early June, extending Friday’s 1.5 percent rally. It last stood at $1,396.54. U.S. crude was bid at $106.91 a barrel as rising tensions in Syria added to concerns of increased unrest in the Middle East that could disrupt supply. Copper in Asian markets lifted to its highest in over four months on optimism about global growth and in the absence of London markets due to a UK holiday.

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Economic Events 26/08/2013

Holiday:         All Day   United Kingdom – Bank Holiday

 

13:30  USD  Core Durable Goods Orders (MoM)

Forecast: 0.5%                      Previous: 0.1%

Core Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering trends. A higher reading indicates increased manufacturing activity.

 13:30  USD  Durable Goods Orders (MoM)

Forecast: 4.0%                     Previous: 3.9%

Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, including transportation items.

14:00  MXN  Mexican Trade Balance

Forecast:                                Previous: 0.855B

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.