Keep an eye on the important release for the loonie
The level of GDP growth for Canada will be published on June 28, at 15:30 MT time.
Daily News: Monday, February 12
The beginning of the week starts with interesting economic events. Stay informed!
- Kuroda, the current Governor of the BOJ, is to be appointed for a second term. The Kuroda’s term expires in April 2018, after that he will continue to be the BOJ head. More likely, it will lead to the continuation of the easy monetary policy and negative impact on the yen.
More about Japan. Today is a Japan market holiday.
- Asia Stocks are recovering after their worst fall since 2011. After the S&P 500 Index increased on Friday, both shares in Hong Kong and China and South Korean equities rose, the futures grew as well. Investors are waiting for the US CPI (Wednesday, February 14 at 15:30 MT time) to find out if the volatility continues.
- Oil has problems. On Friday US oil crude plunged to nearly $58 a barrel, the lowest price in 2018. The reasons were an increased production, strengthening of the dollar and dramatic asset sell-off. WTI futures achieved $58.08 a barrel, Brent was traded at the nine-week lowest level of $61.77. On Monday, both oil brands are trying to recover.
- After the great jump on Thursday, February 8, when the BOE gave a positive forecast about the possibility of the faster interest rates hike, GBP/USD lost its positions again. The reason is the comment of the one of Brexit negotiator about the likely difficulties of the UK/EU deal.
- As the US dollar is slowing down against most of the currencies again: EUR/USD, NZD/USD are slightly rising. Aussie is standing still, moving from a bullish to a bearish position.
- There are not many events on the economic calendar this week. However, traders should take into consideration the UK year CPI tomorrow at 11:30 MT time, the US CPI and Retail Sales on Wednesday at 15:30 MT time. Aussie traders should pay attention to Employment Change and Unemployment Rate on Thursday at 2:30 MT time, Kiwi trader should look at Performance of Manufacturing Index at 23:30 MT time. Friday, February 16 will be important for Aussie and Kiwi: AUD will volatile with the Head of the RBA speech at 12:30 am MT time, GBP Retail Sales will be announced at 11:30 MT time.
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