FX & CFD trading involves significant risk
Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
00:30 Australia Home Loans August -0.3% Revised From 0.3% 5% 2.9%
06:45 France Industrial Production, m/m August -1.1% Revised From -0.8% 0.5% 1.6%
06:45 France Industrial Production, y/y August 0.7% 0.6%
08:30 United Kingdom Total Trade Balance August -4.4 Revised From -3.37 -3.27
The U.S. dollar traded mixed against the most major currencies in the absence of any major economic reports from the U.S.
Yesterday's minutes of the Fed's latest meeting weighed on the greenback. The Fed said that it wanted to have more time to see if the slowdown in the global economy will have a negative effect on the U.S. economy.
Most Federal Open Market Committee (FOMC) members expect the Fed to start raising its interest rate this year.
FOMC members noted that the U.S. labour market continued to improve, while the inflation remained at low levels.
The euro traded higher against the U.S. dollar after the positive industrial production data from France. The French statistical office Insee its industrial production figures on Friday. Industrial production in France climbed 1.6% in August, exceeding expectations for a 0.5% rise, after a 1.1% drop in July. It was the biggest increase since April 2013.
The increase was driven by a rise in manufacturing output. Manufacturing output was up 2.2% in August, while construction output increased 0.6%.
On a yearly basis, the French industrial production rose 0.6% in August, after a 0.7% gain in July.
The British pound traded lower against the U.S. dollar after the mixed U.K. economic data. The U.K. Office for National Statistics (ONS) released trade data for the U.K. on Friday. The U.K. trade deficit in goods narrowed to £11.15 billion in August from £12.20 billion in July. July's figure was revised up from a deficit of £11.08 billion.
Exports of goods climbed 3.5% in August, while imports declined 0.7%.
The total trade deficit, including services, narrowed to £3.27 billion in August from £4.4 billion in July. July's figure was revised up from a deficit of £3.37 billion.
Construction output in the U.K. dropped 4.3% in August, after a 1.0% drop in July. It was the largest decline since December 2012.
The ONS said that the drop may have been driven by bad weather.
On a yearly basis, construction output fell 1.4% in August, after a 2.0% increase in July. July's figure was revised up from a 0.7% decrease.
Construction makes up 6% of UK's economy.
The Canadian dollar traded higher against the U.S. dollar ahead the Canadian labour market data. The unemployment rate in Canada is expected to decline to 6.9% in September from 7.0% in August.
Canada's economy is expected to add 10,000 jobs in September.
EUR/USD: the currency pair rose to $1.1368
GBP/USD: the currency pair fell to $1.5321
USD/JPY: the currency pair climbed to Y120.34
The most important news that are expected (GMT0):
12:30 Canada Unemployment rate September 7% 6.9%
12:30 Canada Employment September 12 10
13:10 U.S. FOMC Member Dennis Lockhart Speaks
14:00 U.S. Wholesale Inventories August -0.1% 0%
14:30 Canada Bank of Canada Business Outlook Survey
17:30 U.S. FOMC Member Charles Evans Speaks
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