In a message seemingly tailored to the Trump Administration’s focus on U.S. paramountcy, Mr. Girling also said the $8-billion (U.S.) pipeline project will strengthen U.S. energy security, support tens of thousands of direct and indirect jobs, and contribute approximately $3.4-billion to U.S. GDP. He noted that TransCanada employees live in 38 U.S. states where the Calgary-based firm operates, and the company is committed to working productively with stakeholders and tribal leaders. “The project is an important new piece of modern U.S. infrastructure that secures access to an abundant energy resource produced by a neighbour that shares a commitment to a clean and healthy environment,” Mr. Girling said. On Wednesday, Mr. Girling told an audience at the CIBC Whistler Institutional Investor Conference that the company has only just re-engaged with potential shippers to see if they’re still interested in committing to the project. Keystone XL was first envisioned in 2008, a time when crude oil prices topped $100 (U.S.) a barrel, and before Canadian oil producers faced intense competition from U.S. shale.
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German economy expanded a calendar-adjusted 1.7 percent

|Chart | Calendar   | TRADE NOW | EURUSD German economy expanded a calendar-adjusted 1.7 percent Germany GDP Annual Growth Rate | Data | Chart | Calendar source: tradingeconomics.com BUZ INVESTORS The German economy expanded a calendar-adjusted 1.7 percent year-on-year in the first quarter of 2017, following a 1.8 percent growth in the previous period and matching preliminary […]

There will be a lighter news schedule this week, compared to last week which was quite heavy. There is central bank input expected this week from Australia and New Zealand, as well as a few high-impact pieces of economic data, mostly from Canada and the U.S.A. The market is likely to be most active from Wednesday through to Friday. U.S. Dollar It will be a reasonably light week for the greenback after a slow start, beginning on Wednesday, with the release of Crude Oil Inventories. Thursday will see the release of Unemployment Claims numbers. Finally, on Friday we will have Preliminary UoM Consumer Sentiment data. Australian Dollar It will be a busy and important week for the Aussie, starting on Monday with the release of Retail Sales data. Tuesday brings the monthly RBA Rate Statement and Cash Rate. On Thursday, the Governor of the RBA will be making a minor speech, then finally on Friday the RBA Monetary Policy Statement will be released. New Zealand Dollar It will be a busy and important week for the Kiwi following Monday’s public holiday, starting on Tuesday with the release of Inflation Expectations data and the GDT Price Index. Wednesday brings the monthly RBNZ Rate Statement and Official Cash Rate, followed by the usual press conference. On Thursday, the Governor of the RBNZ will be testifying before Parliament. Chinese Yuan Friday will see a release of Trade Balance data. Canadian Dollar It will be a normal week for the Loonie, starting with Tuesday’s release of Trade Balance data, followed by Employment Change and Unemployment Rate numbers on Friday. British Pound It will be a quiet week for the Pound, with nothing of high impact scheduled except Manufacturing Production data on Friday.
Forex News

German economic sentiment index climbed in May

|Chart | Calendar   | TRADE NOW | EURUSD Germany Zew Economic Sentiment Index | Data | Chart | Calendar BUZ INVESTORS  German economic sentiment  The Economic Sentiment ZEW Indicator of Economic Sentiment for Germany rose to 20.6 in May 2017 from 19.5 in the previous month while below market consensus of 22. It was the highest reading […]