A weekly look from 3-7 of December

2.4% growth forecast for the world economy in 2013

Euro ended the week’s of trading near its highest price in five weeks against the dollar and the highest price in seven months against the yen boosted hopes of reaching an agreement to avoid severe U.S. financial crisis of market sentiment.
The market continued to focus on negotiations between Democrats and Republicans to avoid spending cuts and tax increases, which is scheduled to come into force on January 1, where U.S. lawmakers said it could not reach an agreement on reducing the budget deficit.
Said House Speaker John Boehner Thursday that there has been little progress in the talks, said Senate Majority Leader Harry Reid said he believed that Congress will put the final touches on the agreement this year.

The euro found support after the German parliament approved a new aid package for Greece on Friday by a large majority.

However, continued concerns about the economic outlook for the euro zone to receive its weight after official data on Friday that German retail sales fell sharply in October, while a separate report showed that the unemployment rate in the euro zone hit a record high of 11.7% in October.

The yen remained under broad selling pressure amid expectations that the upcoming elections on December 16, will lead to increasing political pressure on the Bank of Japan to implement more aggressive measures to monetary easing.

On Friday, opposition leader reiterated Japan Shinzo Abe, who is expected to become the new prime minister, he would prefer to hold more monetary easing from the Bank of Japan to stimulate growth ..

Sterling ended the week down slightly against the dollar on Friday as concerns over the prospects for economic recovery, fueling speculation about the possibility of further monetary easing from the Bank of England.

Speaking on Thursday, warned Bank of England Governor Mervyn King that the environment in the UK economy pose an extraordinary challenge. ”

Investors awaited political decisions by the European Central Bank (ECB) later and the Bank of England, while data will be posted on the U.S. non-farm payrolls on Friday.

Before next week, Forex Pros has compiled a list of these and other significant events of the events that are likely to affect the markets.

Monday, December 3

Australia will publish official data on retail sales, which is the main indicator of consumer spending, which accounts for the majority of economic activity.

Elsewhere, will Bank of Japan Governor Masaaki Shirakawa to speak at a ceremony in Paris, and we will monitor his remarks closely for any indications about the possible future direction of monetary policy.

In the euro area, Spain and Italy will publish official data on manufacturing activity, a leading indicator of economic health. In addition, it will set the euro zone finance ministers to hold talks in Brussels.

Stqouom Switzerland is to publish government data on retail sales and a separate report on manufacturing activity.

United Kingdom will also publish data on manufacturing activity, a leading indicator of economic health.

Later today, the Institute for Supply Management will publish a report on manufacturing growth in the United States

Tuesday, December 4

The Reserve Bank of Australia will announce the interest rate. The announcement will be accompanied by a statement of bank rate, which contains important information about the current economic situation and future of the bank’s point of view.

Australia will also publish official data on building permits, an excellent indicator for measuring construction activity in the future.

In the euro area, Spain will publish government data on the change in the number of unemployed, a leading indicator of economic health. At the same time, the finance ministers of the European Union to hold talks in Brussels.

The UK is to publish data on activity in the construction sector, a leading indicator of economic health.

Also Tuesday, the Bank of Canada will announce the interest rate. Accompanied by a statement the central bank rate.

Wednesday, December 5

Australia will publish official data on gross domestic product in the third quarter, an indicator of economic activity and the primary gauge of the economy’s health.

The UK is to publish data on service sector activity, a leading indicator of economic health.

The euro zone is to publish official data on retail sales, while Spain will work auction of government bonds for 10 years.

The United States will publish non-farm payrolls report any BDO, as well as official data on factory orders and crude oil inventories. In addition, any SM will publish a report on service sector activity.

Later Wednesday, the Reserve Bank of New Zealand will announce the interest rate. And will be accompanied by a statement of the interest rate, which contains important information about the current economic situation and future of the bank’s point of view. The central bank will also hold a press conference to discuss the rate decision.

Thursday, December 6

Australia will publish official data on employment change and the unemployment rate, one of the indicators of economic health.

Switzerland is to publish government data on consumer price inflation, which accounts for a majority of overall inflation.

The UK is to publish official data on the trade balance, the difference between the value of imports and exports. At the same time, the Bank of England will announce interest rate.

In the euro zone, Germany will publish official data on factory orders, a leading indicator of production. In addition, the European Central Bank will announce interest rate and hold a press conference to discuss monetary policy.

The United States will publish the weekly government report on initial jobless claims.

Elsewhere, Canada will publish official data on building permits, a leading indicator of future construction activity. Canada will also publish the BM Index any Ivy.

Friday, December 7

Australia will publish official data on the trade balance, the difference between the value of imports and exports.

The Swiss National Bank will publish data on foreign exchange reserves, which gives insight into the operations of the Bank in the currency market.

United Kingdom will will publish official data on industrial production, a leading indicator of economic health.

Elsewhere, will European Central Bank President Mario Draghi to speak at a ceremony in Budapest, and we will monitor his remarks closely for any indications about the possible future direction of monetary policy.

Later the same day, Canada will publish official data on employment change and the unemployment rate, which is one of the indicators of economic health.

The United States will besiege week formal statements for non-farm payrolls, which is the measure of all things to create jobs, as well as data on the overall unemployment rate. In addition, The University of Michigan is to publish preliminary data on consumer confidence, a leading indicator of economic health