The Dollar showdown
yesterday came undone with doubts about the German banking industry and the
news that industrial orders in the eurozone fell a further 0.8% in March,
providing speculative take profits on recent moves and making the euro to go
back to below $1.39 level. However, dollar gains were short-lived, by the
better than expected US consumer confidence report for May, help to push the
euro back towards the $1.40 level.
boosting followed by yesterday consumer confidence data, left the investors in an
upbeat mood ahead of this afternoonâ€™s release of US existing home sales data
for April, which will be very sensitive to the housing market conditions (any
signs of bottoming out).
sterling continues its largely technical rebound against the dollar and is
expected to reach the $1.60 mark, tough sellers could be willing to emerge
around this level. Sterling is also higher against the single currency and
outperforming the dollar
GDP data, released yesterday confirmed that the German economy contracted by
3.8% in the first three months of the year, which is the economyâ€™s worst
performance since records began in 1970. The steep downturn is largely
attributed to weak investment activity and sharp drops in the net export.
DISCLAIMER: This market research
report has been prepared by Tamley Global Markets. The information herein has
been obtained from sources believed to be reliable and although every effort
has been taken to ensure that the assumptions on which the report is based are
reasonable, we do not endorse that this is accurate or complete and it should
not be relied upon as such. This report does not intend to be an offer, or the
solicitation of any offer, to buy or sell securities referred to herein. All
opinions and data herein constitute a Tamley Global Markets judgment as of the
data of the report and are subject to change without notice.
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Mon 19 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
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