Your Economic Gossip and Hot Market-Moving Figures from the New York Stock Exchange, I’m Kiana Danial also known as Invest Diva.
In the gossip section, UK unemployment numbers reported yesterday showed the number of unemployed had fallen by 125,000, with the official number now standing at 7.2%, higher than last month’s 7.1%. In Europe, an IMF report highlighted, once again, that low inflation in the region presents a “new risk” to the global growth outlook. Weaker Chinese manufacturing PMI numbers than the market was expecting has led to further risk aversion. The Australian market has avoided the sell-off, but Hong Kong and Japan are down 1.3% and 2.15% respectively, while the Yen has appreciated against the Dollar – a classic risk off trade.
Next, an overview of the hot market moving figures for the coming days. Let’s start with the figures that will shake Ms. British Pound on the forex dance floor:
On Friday February 21st at 4:30 am EST we’ll receive the hot retail sales data from the UK.
On Tuesday February 25th, we’ll hear of UK’s inflation reports, and on Wednesday the hotgossip will be on the change in the inflation-adjusted value of all goods and services produced by the UK economy.
There are two hot reports that are likely to shake Mr. Canada, and they are both getting released on Friday: the monthly CPI and the monthly retail sales figures. Better than expected figures will strengthen the loonie; forex geek name for Canadian dollar.
Ms. Euro might rock’n’roll Monday morning on the German Ifo business release.
So what rhythms will Ms. USA be dancing to in the coming days? A bunch. We have the existing home sales report on Friday morning, The Conference Board`s Consumer Confidence report on Tuesday, the US new home sales report on Wednesday, and the unemployment claims and durable goods orders reading on Thursday. On top of that Janet Yellen is due to testify on the Semiannual Monetary Policy Report before the Senate Banking Committee sometime on Tuesday.
There is one giant event that is likely to influence the moves of all major currencies and that is the G20 meeting which starts on Friday.
Thanks for watching and invest responsibly.