07/11/2017

Major Events of the Week 30 October - 3 November

Time (GMT) Flag Currency Event Period Actual Forecast Previous

MONDAY, 6 NOVEMBER

2:00 AM NZD Inflation Expectations q/q Q3 2.0% - 2.10%

3:00 PM CAD Ivey PMI October 63.8 60.2 59.6

TUESDAY, 7 NOVEMBER

3:30 AM AUD RBA Interest Rate Decision Nov-07 1.50% 1.50% 1.50%

7:00 AM EUR German Industrial Production m/m September -1.6% -0.8% 2.6%

3:00 PM USD JOLTS Job Openings September 5.98M 6.08M

WEDNESDAY, 8 NOVEMBER

8:00 AM EUR Non-Monetary Policy's ECB Meeting Nov-08 - -

8:00 PM NZD RBNZ Interest Rate Decision Nov-08 1.75% 1.75%

THURSDAY, 9 NOVEMBER

1:30 PM CAD NHPI m/m September 0.2% 0.1%

FRIDAY, 10 NOVEMBER

9:30 AM GBP Manufacturing Production m/m September 0.3% 0.4%

USD/CAD: Ivey Purchasing Managers Index

The Canadian Dollar appreciated slightly against the US Dollar on

Monday, following an upbeat Ivey PMI release. The USD/CAD currency

pair halted an upward trend rebounding from the 1.2780 mark to fall

further below the Friday low of 1.2734.

The Richard Ivey School of Business reported that its PMI index for the

purchasing activity in Canada climbed to the strongest level in 21 months

in October. The Ivey PMI rose to a seasonally adjusted rate of 63.8 in the

reported period, up from 59.6 registered in September, due to an

increase in prices and inventories. The PMI report as well as labour

market data provided good signs for Canada, despite the economy

entering the second half of the year at a slightly weaker pace.

Historical Data Table: Ivey PMI

Date 07.07.2017 04.08.2017 07.09.2017 06.10.2017 06.11.2017

Actual 61.6 60.0 56.3 53.9 63.8

Forecast 57.7 59.2 61.3 56.0 60.2

Initial Reaction on Main Pairs

Open Price Close Price % Change

AUD/CAD 0.97887 0.97851 -0.04%

CAD/CHF 0.78304 0.78344 0.05%

EUR/CAD 1.48029 1.47948 -0.05%

USD/CAD 1.27774 1.27715 -0.05%

AUD/USD: RBA Interest Rate Decision

The AUD/USD currency pair rose slightly on the RBA interest rate

statement showing no changes monetary policy. The Aussie added 12

base points to resume zigzagging between 0.7680 and 0.7695 marks.

The Reserve Bank of Australia kept its key interest rate at 1.50% for 15th

month in succession, as inflation continued lagging behind surging labour

market and stronger global economic growth. The Bank’s Governor

Philip Lowe suggested that interest rates remaining at their low level are

likely to keep supporting the Australian economy on the way to

achieving consumer price growth closer to the 2% target. Moreover, the

Australian Dollar was still elevated, being a headwind to the country’s

stronger economic expansion.

Historical Data Table: RBA Interest Rate Decision

Date 04.07.2017 01.08.2017 05.09.2017 03.10.2017 07.11.2017

Actual 1.50% 1.50% 1.50% 1.50% 1.50%

Forecast 1.50% 1.50% 1.50% 1.50% 1.50%

Initial Reaction on Main Pairs

Open Price Close Price % Change

AUD/JPY 87.485 87.633 0.17%

AUD/USD 0.7683 0.76949 0.15%

EUR/AUD 1.51188 1.50949 -0.16%

GBP/AUD 1.71514 1.71235 -0.16%

EUR/USD: German Industrial Production

The Euro lost yesterday’s gains against the Greenback, after the

disappointing report on German industrial production came in. The EUR/

USD exchange rate fell 10 base points to the 1.1592 mark.

German industrial output dropped twice as much as anticipated in

September, following a strong increase in the prior month. The

Germany’s Economy Ministry stated that country’s industrial production

fell 1.6% for the month, though still expanded 0.8% on a quarterly basis.

In addition, data revealed that solid demand from other EZ countries for

capital goods such as vehicles and machines contributed to a surprise

rise in September’s industrial orders, suggesting the industrial output to

increase in the coming months.

Historical Data Table: German Industrial Production m/m

Date 07.07.2017 07.08.2017 07.09.2017 09.10.2017 07.11.2017

Actual 1.2% –0.1% 0.0% 2.6% -1.6%

Forecast 0.2% 0.2% 0.5% 0.9% -0.7%

Initial Reaction on Main Pairs

Open Price Close Price % Change

EUR/USD 1.16025 1.15928 -0.08%

EUR/GBP 0.8822 0.88165 -0.06%

EUR/CHF 1.1591 1.15915 0.00%

EUR/JPY 132.406 132.32 -0.06%

Disclaimer

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