Daily Update - 16th Feb 2017
Trade balance from Europe came out better than expected. Data from USA came out positive which helped US dollar to maintain its strong position ahead of Janet Yellen’s Testimony in front of House Financial services committee. Specially consumer pricex index jumped 0.6% in January, after rising 0.3 percent in December, for its biggest monthly gain in four years. The CPI was up 2.5 percent, in the largest year-over-year gain since March 2012. It rose above 2 percent for the first time in two years in December. The Key focus was on Janet Yellen where she mentioned that Growth is 'quite disappointing' — but that's not the Fed's fault. She acknowledged that the economy is weak, but said Fed policies have been a help, not a hindrance. Dollar's reversal came in spite of another strong tax headline from US President Trump, who said that a massive tax plan will see the light in the "not-too-distant future," when speaking with retail executives. A busy day in terms of economic data. Early morning Employment Change will be released from Australia which is a measure of the change in the number of employed people in Australia. This will be followed by Unemployment Rate which is the number of unemployed workers divided by the total civilian labor force. Next up will be key data from Euro zone which will focus on Wholesale Price Index which shows value of sales made by wholesalers in Germany. The data will be followed by ECB monetary policy meeting which contain an overview of financial market, economic and monetary developments. It's followed by a summary of the discussion, in an unattributed form, on the economic and monetary analyses and on the monetary policy stance. In the evening markets will get another chance to check the U.S. economic pulse from another batch of data, including housing starts, Intital jobless claims, building permits and the Business Outlook Survey by Reserve Bank of Philadelphia.Yesterday’s Market
Yesterday Explained
Today’s Market
Today’s Focus
