Week Ahead focus over the Euro

04.03.2016 / 22:31

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This week the focus was at the US dollar, with news Non-Farm employment change and Unemploymen change. The dollar was trading in a tight range and is unchanged to weak against its pears. This can change next week, as we expect Eurozone meeting and Minimum Bid rate for Europe. The expectation are mounting that ECB will act and inject stimuly into the economy to try to increase inflation. The divergence between the Central banks of US and EU will have impact for sure.

The price of Oil continue to increase for now and also continue to support the indices in Europe and the US. As there has been better data now from the US and the FED upcoming meeting on March 16, the indices can feel overbought, if FED takes these better data and changes their tone in regards to the status of the US economy to better. Alternatevely, if FED continue to be troubled by the low inflation and continue to hold off the increase of rates, this will support the stocks and push the dollar down some more.

The political situation in the US still have no impact on the markets but this might change next week as the process of nominations of political learders and nominations for both parties continue.

Economic data which may be in focus next week:

Monday: German Factory Orders, Eurogroup Meeting, US- Labor Market Conditions

Tuesday: China's trade balance, Germany Industrial Production, France trade balance, ECOFIN meeting, Canada's building permits

Wednesday: UK, Industrial production, Canada - BOC rate statement, US Crude Oil inventories, NZD - Monetary policy statement and conference

Thursday: China's CPI, France - final non-farm payrols, German trade balance, Euro - minimum Bid rate and conference, US - Unemployment Claims

Friday: UK trade balance, Canada Emloyment change, Unemployment rate, UK, import prices.

Jr. Trader - S. Fuchedzhiev

Varchev Traders

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Week Ahead focus over the Euro

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