Forex Market overview – On Friday, February 16, the US dollar recouped some of the losses relative to the majors. The dollar index (#DX) closed the trading session in the positive zone (0.58%). Support was provided by optimistic reports on the real estate market in the USA. In January, the number of construction permits issued increased by 7.4% to 1.396 million. The volume of new houses construction was 1.326 million, significantly higher than the market expectations of 1.234 million.
On Monday, the news feed will be fairly calm. In the Asian trading session, data on Japan’s trade balance will appear at 01:50 (GMT+2:00). We also recommend you to pay attention to the speech by the head of the Bank of England, Carney.
The financial markets of China, the US, and Canada will be closed due to the holidays.
On Tuesday, we expect the minutes of the last meeting of the Reserve Bank of Australia on the monetary policy at 02:30 (GMT+2:00).
At 12:00 (GMT+2:00) the indices of economic sentiments from ZEW in Germany and the Eurozone will be published.
China’s financial markets will be closed due to the holiday.
On Wednesday, we expect the publication of important economic reports:
– Statistics on business activity in Germany and the Eurozone at 10:30 (GMT+2:00) and 11:00 (GMT+2:00), respectively;
– Data on the UK labor market at 11:30 (GMT+2:00);
– The Bank of England inflation report at 16:15 (GMT+2:00);
– Sales in the secondary housing market in the US at 17:00 (GMT+2:00);
– Publication of the FOMC protocols at 21:00 (GMT+2:00).
China’s financial markets will be closed due to the holiday.
On Thursday, investors’ attention will be focused on the following statistics:
– The IFO business climate index at 11:00 (GMT+2:00);
– The UK GDP data at 11:30 (GMT+2:00);
– Minutes of the last ECB meeting on the monetary policy at 14:30 (GMT+2:00);
– A report on retail sales in Canada at 15:30 (GMT+2:00);
– Crude oil inventories in the US at 18:00 (GMT+2:00).
On Friday, the key event will be publication of the infation reports in the Eurozone and Canada at 12:00 (GMT+2:00) and at 15:30 (GMT+2:00), respectively.
We also recommend paying attention to the speeches of the FOMC representatives.
Source: JustForex Broker
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