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26.11.2014 07:26

Foreign exchange market. Asian session: the greenback is trading weaker against its major peers ahead of U.S. data

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

00:30 Australia Construction Work Done Quarter III -1.2% -1.7% -2.2%

04:00 Switzerland UBS Consumption Indicator October 1.41 1.29


The U.S. dollar traded largely lower against its major peers after a disappointing U.S. consumer confidence report which led investors to take profits on the greenback after the recent rally. The U.S. consumer confidence index unexpectedly declined to 88.7 in November from 94.1 in October, missing expectations for a rise to 95.9. October's figure was revised down from 94.5. U.S. revised GDP grew 3.9% in the third quarter, higher than the previous estimated growth of 3.5%. The S&P/Case-Shiller home price index increased by 4.9% in September, beating expectations for a 4.7% rise, after a 5.6% gain in August. Today data on durable goods orders, initial jobless claims, personal income and spending and reports on new and pending home sales and revised data on consumer sentiment will be published.

The Australian dollar recouped little after yesterday's losses and is trading close to its for-year low from yesterday. Comments from RBA Deputy Governor Philip Lowe put pressure on the currency as he said that the aussie is overvalued and will probably decline in line with lower commodity prices and investment. Iron ore, Australia's biggest export, hit new five year lows yesterday. Data on Construction Work Done in the 3rd quarter declined by -2.2%, a stronger-than-predicted decline of -1.7%.

The New Zealand dollar traded stronger against the greenback recovering from its loss after weak inflation data. Later in the day, at 21:45 GMT, data on New Zealand's Trade balance will be published.

The Japanese yen further recovered against the U.S. dollar with BoJ minutes raised doubts on further quantitative easing as it might be seen as financing government deficit. The minutes of the BoJ's October meeting showed that four out of nine officials were against plans to expand its stimulus measures. The yen reached lows at USD118.98 on Thursday last week, losing 7% in November.

EUR/USD: the euro traded steady against the greenback


USD/JPY: the U.S. dollar declined against the Japanese yen


GPB/USD: The British pound traded stronger against the U.S. dollar


The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

09:30 United Kingdom Business Investment, q/q Quarter III +3.3% +2.3%

09:30 United Kingdom Business Investment, y/y Quarter III +6.7%

09:30 United Kingdom GDP, q/q (Revised) Quarter III +0.7% +0.7%

09:30 United Kingdom GDP, y/y (Revised) Quarter III +3.0% +3.0%

11:00 United Kingdom CBI retail sales volume balance November 31 28

13:30 U.S. Initial Jobless Claims November 291 287

13:30 U.S. Personal Income, m/m October +0.2% +0.4%

13:30 U.S. Personal spending October -0.2% +0.4%

13:30 U.S. PCE price index ex food, energy, m/m October +0.1% +0.1%

13:30 U.S. PCE price index ex food, energy, Y/Y October +1.5%

13:30 U.S. Durable Goods Orders October -1.1% Revised From -1.3% -0.4%

13:30 U.S. Durable Goods Orders ex Transportation October -0.1% Revised From -0.2% +0.5%

13:30 U.S. Durable goods orders ex defense October -1.5%

14:45 U.S. Chicago Federal National Activity Index November 66.2 63.1

14:55 U.S. Reuters/Michigan Consumer Sentiment Inde (Finally) November 89.4 90.2

15:00 U.S. New Home Sales October 467 471

15:00 U.S. Pending Home Sales (MoM) October +0.3% +0.9%

15:30 U.S. Crude Oil Inventories November +2.6

21:45 New Zealand Trade Balance, mln October -1350 -645

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