Currency Traders Week Ahead  In the US, inflation figures and JOLTs job openings will be in the spotlight.

FOREX INVESTORS BUZZ WEEK AHEAD

FOREX INVESTORS BUZZ WEEK AHEAD

CURRENCY TRADERS

CURRENCY TRADERS  WEEK AHEAD In the US, investors will be waiting for new and existing home sales, durable goods orders and flash Markit

WEEK AHEAD In the US, investors will be waiting for new and existing home sales, durable goods orders and flash Markit PMIs. Elsewhere, key data include UK and Germany GDP growth; Japan inflation rate and manufacturing PMI; and flash PMI data for the Eurozone, Germany and France.

In the US, the most important releases are new and existing home sales, durable goods orders and flash Markit PMIs. Other key data include: Fannie Mae and Freddie Mac house prices; Chicago Fed National Activity Index; Richmond Fed Manufacturing Index; and Kansas Fed Manufacturing Index.



WEEK AHEAD

In the UK, GDP growth, business investment and CBI industrial trends orders will be in the spotlight. Elsewhere in Europe, important releases include flash PMI data for the EurozoneGermany and France. Markets will also focus on the Eurozone consumer confidence; Germany GDP growth, ZEW economic sentiment and Ifo business climate; and French business and consumer sentiment.
In Japan, analysts are eyeing inflation rate and flash manufacturing PMI. Other important key data across Asia include Thailand GDP growth, Indonesia interest rate decision, and South Korea business and consumer morale.
Traders will also be looking to Canada retail sales; and Mexico GDP growth and unemployment rate.



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The dollar was broadly weaker against a basket of the other major currencies on Friday after data showing that U.S. economic

DOLLAR INDEX HOLDS STEADY AHEAD OF FED MEETING MINUTES

DOLLAR INDEX HOLDS STEADY AHEAD OF FED MEETING MINUTES

The dollar was broadly weaker against a basket of the other major currencies on Friday after data showing that U.S. economic

DOLLAR INDEX HOLDS The dollar remained broadly higher against the other major currencies on Tuesday, as tensions between the U.S. and North Korea continued to ease and as markets were eyeing the release of U.S. data later in the day.

The greenback strengthened broadly after data on Tuesday showed that U.S. retail sales rose at a faster than expected rate in July.

A separate report showed that the Empire State manufacturing index climbed to 25.20 in August from 9.80 the previous month, blowing past expectations for a reading of 10.00. It was the highest level since September 2014.



DOLLAR INDEX HOLDS

Market participants were looking ahead to U.S. reports on building permits and housing starts, due later in the day, as well as the minutes of the Fed’s most recent policy meeting for indications on another potential rate hike this year.

EUR/USD was little changed at 1.1732. The euro initially dropped following reports European Central Bank President Mario Draghi will not deliver any fresh monetary policy message at the U.S. Federal Reserve’s Jackson Hole conference.

The report tempered expectations that the ECB is moving closer to announcing plans to scale back its monetary stimulus program.

But sentiment on the single currency improved after preliminary data showed that the euro zone economy grew at a faster rate that expected in the second quarter.

The pound moved higher, with GBP/USD up 0.19% at 1.2895, off a one-month trough of 1.2843 hit overnight.

Demand for sterling was boosted after official data earlier showed that the U.K. jobless rate unexpectedly dropped in June while wage inflation registered a stronger-than-expected increase

Elsewhere, USD/JPY rose 0.24% to 110.92, the highest since August 4, while USD/CHF held steady at 0.9732.

Demand for the safe-haven assets continued to weaken since North Korea said on Tuesday it had delayed a decision on a plan to fire missiles at the U.S. Pacific territory of Guam while it watches U.S. actions a little longer.

The Australian and New Zealand dollars were stronger, with AUD/USD up 0.49% at 0.7860 and with NZD/USD adding 0.17% to 0.7250.

Meanwhile, USD/CAD slipped 0.16% to trade at 1.2737, just off Tuesday’s one-month peak of 1.2778.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 93.77, close to Tuesday’s three-week high of 94.04.




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companies lobbying  Reuters reports that tech companies including Microsoft (NASDAQ:MSFT) and Cisco (NASDAQ:CSCO) are increasing lobbying efforts

Microsoft, Cisco among companies lobbying ahead of NAFTA talks

Microsoft, Cisco among companies lobbying ahead of NAFTA talks

 companies lobbying  Reuters reports that tech companies including Microsoft <span data-recalc-dims=(NASDAQ:MSFT) and Cisco (NASDAQ:CSCO) are increasing lobbying efforts " width="300" height="169" srcset="https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/08/nafta-freeland-20170814.jpg?resize=300%2C169 300w, https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/08/nafta-freeland-20170814.jpg?w=620 620w" sizes="(max-width: 300px) 100vw, 300px" />

companies lobbying  Reuters reports that tech companies including Microsoft (NASDAQ:MSFT) and Cisco (NASDAQ:CSCO) are increasing lobbying efforts ahead of North American Free Trade Agreement talks on Wednesday.

Tech companies and trade groups have 48 arrangements with NAFTA lobbying groups in Q2, up from 17 such arrangements in Q1 and one group a the end of last year.



companies lobbying

Tech companies want to ban governments from requiring service providers from storing data in a certain country and want the elimination of tariffs on a range of IT goods including everything from semiconductors to medical devices. Mexico currently doesn’t subscribe to the tech agreement.



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Currency Traders Week Ahead  In the US, inflation figures and JOLTs job openings will be in the spotlight.

CURRENCY INVESTORS BUZZ Forex Week Ahead

CURRENCY INVESTORS BUZZ Week Ahead

Forex Week Ahead In the US, the Fed meeting minutes will be the most important release, followed by retail sales,

Forex Week Ahead In the US, the Fed meeting minutes will be the most important release, followed by retail sales, industrial production, Michigan consumer sentiment, building permits and housing starts. Elsewhere, key data include Japan and Germany GDP growth; UK inflation, unemployment and retail sales; China industrial output and retail trade; and Australia employment figures.

In the US, the Fed will publish its meeting minutes, which are expected to provide further details on the bank’s outlook for monetary policy. Investors will also be closely watching retail sales, industrial production, Michigan consumer sentiment, building permits and housing starts, export and import prices, business inventories, overall net capital flows, NY Empire State Manufacturing index, NAHB Housing Market index and Philadelphia Fed Manufacturing index.



Forex Week Ahead

In the UK, markets will focus on inflation figures, unemployment rate and retail sales. Elsewhere in Europe, important releases include GDP growth for the EurozoneGermanyItalythe NetherlandsPolandFinland and Denmark, as well as French jobless rate. The Eurozone’s industrial output and inflation will also be in the spotlight.
In Japan analysts are eyeing GDP growth, industrial production and trade figures. Meanwhile in China, investors will be waiting for retail sales, industrial production, fixed asset investment and house prices. Other important key data across Asia include India inflation and wholesale prices; and IsraelPhilippines and Malaysia GDP growth.
Traders will also be looking to Canada inflation rate; and Brazil retail trade.
In Australia, the most important releases are RBA meeting minutes, employment data and wage price index.

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Crude gained in Asia on Friday ahead of weekly U.S. rig count figures that will set the near-term tone, though

CRUDE GAINS IN ASIA WITH U.S. RIG COUNT DATA AHEAD

CRUDE GAINS IN ASIA WITH U.S. RIG COUNT DATA AHEAD

Crude gained in Asia on Friday ahead of weekly U.S. rig count figures that will set the near-term tone, though

Crude gained in Asia on Friday ahead of weekly U.S. rig count figures that will set the near-term tone, though tension on the Korean peninsula and the ability of OPEC and allies to keep output cuts on track retain center stage.

On the New York Mercantile Exchange crude futures for September delivery rose 0.14% to $48.66 a barrel, while on London’s Intercontinental Exchange, Brent rose 0.13% to $51.94 a barrel.



Crude gained

Overnight, crude futures settled lower on Thursday, as market participants questioned Opec’s commitment to the global pact to curb production in the wake of a report showing crude output among the group’s members rose in July.

In a monthly report Thursday, the Organization of the Petroleum Exporting Countries raised its outlook for oil demand this year by 100,000 barrels a day, saying it now expects growth of 1.37 million barrels a day in 2017.

The cartel also said, however, that production from the group rose further in July, as exempt producers – Nigeria and Libya – and top exporter Saudi Arabia increased output.

This Opec report stoked fears that Opec and its allies’ may not be able to stem the glut in supplies by only curbing production, offsetting optimism from the prior session, when crude prices snapped a two-day losing streak, following bullish U.S. inventory data.

Inventories of U.S. crude fell by roughly 6.5m barrels in the week ended Aug 4, confounding expectations of a draw of about only 2.5m barrels, the Energy Information Administration reported Wednesday. It was the sixth-straight weekly decline.

The uptick in Opec production comes a few days after the group met in Abu-Dhabi to address concerns of falling compliance. The outcome of the meeting, however, failed to lift sentiment as the group offered little in the way of tangible solutions to increase compliance.

The meeting “proved fruitful and “will help facilitate full conformity with the Declaration of Cooperation, which participating countries remain steadfast in their commitment to fulfil.” Opec noted in a statement on its website.Like up on FACEBOOK


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COMMODITIES: (CRUDE OIL) (SILVER) (GOLD)



Oil prices edged lower on Wednesday, as investors looked ahead to weekly data from the U.S. on stockpiles of crude and refined products.

OIL ON THE BACK FOOT AHEAD OF US SUPPLY UPDATE

OIL ON THE BACK FOOT AHEAD OF US SUPPLY UPDATE

Oil prices edged lower on Wednesday, as investors looked ahead to weekly data from the U.S. on stockpiles of crude and refined products.

Oil prices edged lower on Wednesday, as investors looked ahead to weekly data from the U.S. on stockpiles of crude and refined products.

The U.S. West Texas Intermediate crude September contract was at $49.12 a barrel by 3:35AM ET (0735GMT), down 5 cents, or around 0.1%.

Elsewhere, Brent oil for October delivery on the ICE Futures Exchange in London shed 12 cents, or 0.2%, to $52.02 a barrel.

Oil prices fell for a second straight session in volatile trade on Tuesday.

The U.S. Energy Information Administration will release its official weekly oil supplies report at 10:30AM ET (1430GMT).



Oil prices edged

Analysts expect crude oil inventories dropped by around 2.7 million barrels at the end of last week, while gasoline supplies are seen decreasing by about 1.4 million barrels and distillates are forecast to fall about 131,000 barrels.

After markets closed Tuesday, the American Petroleum Institute said that U.S. oil inventories fell by 7.89 million barrels in the week ended August 4.

The API report also showed a gain of 1.5 million barrels in gasoline stocks, while distillate stocks fell by 157,000 barrels.

There are often sharp divergences between the API estimates and the official figures from EIA.

Meanwhile, officials from a joint OPEC and non-OPEC technical committee said on Tuesday that they expect greater compliance with their output-cutting pact.

According to recent calculations, compliance fell to 86% in July, the lowest level since January.

OPEC and 10 producers outside the cartel, including Russia, agreed since the start of the year to slash 1.8 million barrels per day in supply until March 2018 in order to reduce a global supply glut and rebalance the market.

However, so far, the deal has had little impact on global inventory levels due to rising supply from producers not participating in the accord, such as Libya and Nigeria, as well as a relentless increase in U.S. shale output.

Elsewhere on Nymex, gasoline futures for September was little changed at $1.602 a gallon, while September heating oil ticked down 0.8 cents to $1.620 a gallon.

Natural gas futures for September delivery shed half a cent to $2.818 per million British thermal units.

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DAY AHEAD  Here’s a preview of the top 3 things that could rock markets tomorrow

DAY AHEAD: TOP 3 THINGS TO WATCH

DAY AHEAD: TOP 3 THINGS TO WATCH

DAY AHEAD  Here’s a preview of the top 3 things that could rock markets tomorrow

DAY AHEAD  Here’s a preview of the top 3 things that could rock markets tomorrow

U.S. crude oil stockpiles to show sixth-straight weekly decline?

A fresh batch of inventory data from the Energy Information Administration (EIA) on Wednesday is expected to show that U.S. crude stockpiles fell for a sixth-straight week.

Analysts forecast crude inventories fell by about 2.7m barrels in the week ended Aug 4.

Crude futures have started the week on the back foot, struggling to settle above $50 amid an uptick in production from major oil producers.

Crude oil prices settled $0.22 lower at $49.17 on Tuesday as market participants await the outcome of a two-day compliance meeting of Opec and non-Opec members.

It’s rate decision day… In New Zealand



DAY AHEAD

The Reserve Bank of New Zealand (RBNZ) is slated to reveal its decision interest rates on Wednesday, widely expected to remained unchanged at 1.75%.

Investors, however, will parse the policy statement on Wednesday to establish whether the central bank continues to believe that rates should be kept “lower for longer” amid declining inflation and labour market data and a cooling housing market.

Ahead of the RBNZ decision on interest rates, NZD/USD fell 0.49% to $0.7325.

Walt Disney to drag markets down

Walt Disney Company (NYSE:DIS) could be stock to watch on Wednesday, following the release of mixed third quarter results, as earnings topped estimates but revenue fell short.

Walt Disney earned $1.58 per share in the third quarter, above the consensus analyst forecast for $1.58. Revenue was $14.24 billion, $180 million short of what analysts had forecast.

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CRUDE SETTLES NEAR $50 Crude futures settled higher on Friday, as data this week eased concerns about surplus supplies,

CRUDE DOWN IN ASIA AHEAD OF CHINA TRADE, API ESTIMATES LATE ON TUESDAY

CRUDE DOWN IN ASIA AHEAD OF CHINA TRADE, API ESTIMATES LATE ON TUESDAY

CRUDE DOWN  in Asia on Tuesday as markets await China trade figures slated an imports in focus and look ahead to industry estimates

CRUDE DOWN  in Asia on Tuesday as markets await China trade figures slated an imports in focus and look ahead to industry estimates on inventories in the U.S.

On the New York Mercantile Exchange crude futures for September delivery eased 0.16% to $49.31 a barrel, while on London’s Intercontinental Exchange, Brent was last quoted at $52.24 a barrel.

China is expected to report exports rose 10.9% in July year-on-year, down from an 11.3% gain in June, while imports rose 16.6%, compared to a 17.2% increase in the previous month for a trade balance surplus of $46.08 billion, wider than the $42.77 billion in June.



CRUDE DOWN

 

Late on Tuesday, the American Petroleum Institute will provide its estimates of crude oil and refined product stocks at the end of last week to be followed by official data on Wednesday from the Energy Information Administration.

Earlier, Japan said its unadjusted current account fro June reached ¥935 billion, wider than the ¥814 billion in surplus seen, but narrower than the ¥1.654 trillion in May.

Overnight, crude futures settled lower on Monday, amid renewed oversupply jitters, following an uptick in U.S. output to a two-year high while concerns over Opec’s wavering commitment to production cuts continued as a meeting of Opec and non-Opec members got underway.

Fresh from posting a weekly loss, crude futures showed little sign of a rebound, as data showed U.S. production rose to a two-year high while a rebound in Libyan oil output also added to oversupply concerns.

U.S. weekly oil production hit 9.43 million bpd in the week to July 28, the highest since August 2015 and up 12 percent from its most recent low in June last year.

In Libya, Output at the Sharara field, the country’s largest oil field, was returning to normal after a brief disruption by armed protesters in the coastal city of Zawiya, the National Oil Corporation (NOC) said.
The downbeat data comes amid a two-day meeting of Opec and non-Opec members in Abu Dhabi on Monday, as they seek to reaffirm their commitment to increase compliance with the deal to curb production.

Opec output hit a 2017 high of 33 million bpd in July, up 90,000 bpd from the previous month, a Reuters survey showed last week.

In May, Opec and non-Opec members agreed to extend production cuts for a period of nine months until March, but stuck to production cuts of 1.8 million bpd agreed in November last year.

Some analysts believe oil prices will continue to ebb and flow, as investors await the outcome of the compliance meeting.

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ECONOMIC CALENDAR Global financial markets will focus on a big batch of U.S. economic data in the week ahead, with Friday’s inflation repor

THE WEEK AHEAD: 5 THINGS TO WATCH ON THE ECONOMIC CALENDAR

THE WEEK AHEAD: 5 THINGS TO WATCH ON THE ECONOMIC CALENDAR

ECONOMIC CALENDAR Global financial markets will focus on a big batch of U.S. economic data in the week ahead, with Friday’s inflation repor

ECONOMIC CALENDAR Global financial markets will focus on a big batch of U.S. economic data in the week ahead, with Friday’s inflation report in the spotlight, for further clues on the timing of the next Federal Reserve rate hike.

Investors will also keep an eye out on a number of Fed speakers for any new insight on when and how the central bank plans to pare back its massive balance sheet.

Elsewhere, China is to release monthly trade and inflation data amid recent signs that momentum in the world’s second largest economy remains strong.

In the U.K., traders will be awaiting a report on manufacturing production for further indications on the continued effect that the Brexit decision is having on the economy.

 



 

ECONOMIC CALENDAR

Meanwhile, market players await monthly reports from the Organization of Petroleum Exporting Counties and the International Energy Agency to assess global oil supply and demand levels.

Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.

1. U.S. inflation data

The Commerce Department will publish inflation figures for July at 8:30AM ET (1230GMT) Friday. Market analysts expect consumer prices to ease up 0.2%, while core inflation is forecast to rise 0.2%.

On a yearly base, core CPI is projected to climb 1.7%. Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. The central bank usually tries to aim for 2% core inflation or less.

Rising inflation would be a catalyst to push the Fed toward raising interest rates in the months ahead.

Besides the inflation data, this week’s calendar also features reports on JOLTS job openings, nonfarm productivity and unit labor costs, producer prices as well as weekly jobless claims.

In the stock market, struggling retailers, such as Macy’s (NYSE:M), Nordstrom (NYSE:JWN), Kohl’s (NYSE:KSS) and JC Penney (NYSE:JCP), will release results in the week ahead, as earnings season begins to wind down. Media companies, like Disney (NYSE:DIS) and News Corp (NASDAQ:NWSA), as well as some recent IPOs, including Snap (NYSE:SNAP) and Blue Apron (NYSE:APRN), will also garner some attention.

Focus will also be on headlines coming out of Washington, even as Congress slows down for August recess. The investigation into U.S. President Donald Trump campaign’s ties to Russia will remain on the agenda.

2. Fed speakers

A handful of Fed policymakers are due to make public appearances this week that may offer fresh clues on future monetary policy moves.

Monday sees St. Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari make public appearances.

On Thursday, New York Fed President William Dudley will speak about wage inequality in his region. His comments will be scrutinized to gauge whether the Fed’s view on low inflation appears to be transitory or a longer term problem.

Finally, Friday sees Dallas Fed President Rob Kaplan and Minneapolis Fed chief Kashkari deliver comments.

Markets remain skeptical the Fed will raise rates in December, according to Investing.com’s Fed Rate Monitor Tool, due to worries over the subdued inflation outlook, but it is widely expected to start the process of reducing its balance sheet by September.

3. China trade figures

China is to release July trade figures at around 0300GMT on Tuesday. The report is expected to show that the country’s trade surplus widened to $46.08 billion last month from a surplus of $42.77 billion in June.

Exports are forecast to have climbed 10.9% in July from a year earlier, following a jump of 11.3% a month ago, while imports are expected to rise 16.6%, after increasing 17.2% in June.

Additionally, on Wednesday, the Asian nation will publish data on July consumer and producer price inflation. The reports are expected to show that consumer prices rose 1.5% last month, while producer prices are forecast to increase by 5.5%.

China’s economy grew a faster-than-expected 6.9% in the second quarter, matching the first quarter’s pace, supported by solid exports, industrial production and consumption.

4. U.K. manufacturing production

The Office for National Statistics is to produce data on U.K. manufacturing production for June at 0830GMT (4:30AM ET) on Thursday, amid expectations for a flat reading, following a decline of 0.2% in the preceding month. Industrial output is forecast to inch up 0.1%, after falling 0.1% in May.

The Bank of England cut its forecasts for growth and wages last week, and appeared in no rush to raise interest rates, as it warned that Brexit was weighing on the economy.

5. OPEC/IEA monthly reports

The Organization of Petroleum Exporting Counties will publish its monthly assessment of oil markets at around 7:00AM ET (1100GMT) on Thursday. It includes figures on the state of global crude stockpiles for July.

On Friday, the International Energy Agency will release its own monthly report on global oil supply and demand.

The data will give traders a better picture of whether a global rebalancing is taking place in the oil market.

Oil traders will also be focused on a meeting of oil ministers from some OPEC and non-OPEC countries set for Monday and Tuesday in Abu Dhabi to discuss compliance to agreed upon global production limits that run through March 2018.

So far, the output deal has had little impact on global inventory levels due to rising supply from producers not participating in the accord, such as Libya and Nigeria, as well as a relentless increase in U.S. shale output.

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