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Economic calendar (GMT0):
Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual
04:30 Japan Tertiary Industry Index July 0.3% 0.2%
04:30 Japan Industrial Production (YoY) (Finally) July 2.3% 0.2% 0.0%
04:30 Japan Industrial Production (MoM) (Finally) July 1.1% -0.6% -0.8%
The yen advanced against the U.S. dollar after demand for this safe-haven currency had grown amid data on the Chinese economy. The National Bureau of Statistics of China reported on Sunday that the country's industrial production rose by 6.1% y/y in August vs 6.4% expected and 6.0% previous. Meanwhile retail sales exceeded expectations and rose by 10.5% y/y in the same month. Fixed asset investment rose by 10.9% y/y in the first eight months of the current year, which is below expectations for an 11.1% growth and the previous reading of 11.2%.
Federal Open Market Committee meeting will be this week's key event. A survey by the Wall Street Journal showed that approximately 46% of the economists surveyed last week expect the Fed to raise rates in September. 35% of economists said the Fed would raise rates in December and 9.5% said they expect a liftoff in 2016.
The New Zealand dollar managed to recover early losses amid Prime Minister John Key speech. He said that the government is always ready to respond to economic slowdown. Last week John Key sounded very optimistic about the country's economy.
EUR/USD: the pair fluctuated within $1.1335-60 in Asian trade
USD/JPY: the pair fell to Y120.25
GBP/USD: the pair traded within $1.5425-55
The most important news that are expected (GMT0):
(time / country / index / period / previous value / forecast)
07:15 Switzerland Producer & Import Prices, m/m August -0.3%
07:15 Switzerland Producer & Import Prices, y/y August -6.4%
07:15 Switzerland Retail Sales (MoM) July 1.4%
07:15 Switzerland Retail Sales Y/Y July -0.9%
09:00 Eurozone Industrial production, (MoM) July -0.4% 0.3%
09:00 Eurozone Industrial Production (YoY) July 1.2% 0.6%
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