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14/ 03/ 2017
Pound and Euro had a decent start to the week ahead of the all-important Fed Rate decision which will be on Wednesday.
There won’t be much volatility today as markets prepare for a Wild Wednesday where there's a Fed Rate Decision, a general election in the Netherlands, a G20 Finance Ministers and Central Bankers meeting which will be followed by Retail Sales & Consumer price index from US.
12/ 03/ 2017
The market expectations of a probable US interest rate increase in March was fully cemented by February's solid Non-farm payrolls report, which illustrated steady growth in the US labour markets
This week brings the next Fed rate decision on Wednesday, where markets expect the Fed to hike its target range by 25bp to 0.75-1.00% in line with market pricing and consensus among analysts.
Also, this week, Trump administration is to publish its budget proposal for the 2018 fiscal year running from 4th quarter 2017 to 3rd quarter 2018. In terms of data releases, both Consumer price index and retail sales data for February are due on Wednesday.
09/ 03/ 2017
The UK Finance Minister Philip Hammond presented his annual budget statement for the 2017-18 fiscal year on Wednesday. Budget did not hold any big surprises on spending or tax, chancellor said yesterday. Philip Hammond denies big changes in spring budget as UK economy continues to perform strongly.
USD stands victorious against all of its major rivals, underpinned by the release of a much better-than-expected ADP report. According to the US survey, the private sector in the country added 298,000 new jobs during February, anticipating a strong Nonfarm Payroll report what in turn will raise odds of a Fed's hike next week.
The monthly U.S. jobs report, due on Friday, is expected to show an increase of 186,000 jobs, probably enough to push the Fed to raise its base rate again for the second time in three months.
Today will be full of major data coming out from ECB in the form of Deposit and Interest Rate Decision, Monetary Policy Statement and Press Conference.
08/ 03/ 2017
Despite the mix results for US data, US Dollar still managed to edge above rival currencies to end the day as the winner. Market seems ready to resume dollar's buying, but will likely wait from macroeconomic confirmations, in the form of the ECB monetary policy announcement and the US Nonfarm Payroll report, to be unveiled later this week.
Today will be full of major data coming out from US in the form of ADP Employment Change, Unit Labor Costs, Non-Farm Productivity & 10 Year Note Auction.
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