The euro rose to its highest level in nine months against the U.S. dollar on Friday amid signs of retreat of the crisis in the euro zone, while the greenback hit its highest level in 22 months against the yen amid expectations of further further monetary easing by the Bank, which led to further pressure on the Bank .
EUR extended a rally that began on Thursday after the European Central Bank kept interest rates unchanged at 0.75% as stated that the gradual economic recovery will begin this year, while structural reforms remained and actions by the Bank to address the debt crisis valid.
Euro came under pressure by the European Central Bank meeting amid speculation that European Central Bank President Mario Draghi President could allude to reduce possible interest rate in the coming months.
The dollar highest level since June 2010 against the yen on Friday, rising dollar / yen fell 0.45% to close at 89.17 after the Japanese government agreed on emergency stimulus measures amounting to $ 117 billion.
Pledged the Japanese government led by Prime Minister Shinzo Abe, to work closely with the Bank of Japan to fight deflation and stimulate growth, raising expectations that the central bank will implement procedures to a more aggressive monetary stimulus in its next policy meeting later this month.
Euro highest price in 20 months against the yen on a large scale on with EUR / JPY rose 0.98% to close at 118.98. Elsewhere, and recorded the single currency higher rate against the Swiss franc more than a year ago, with EUR / CHF shedding 0.47% to close at 1.2185.
The dollar was little changed on Friday after official data showed that the trade deficit of the United States widened unexpectedly in November, growing to 48.7 billion dollars, the largest deficit since April. Imports rose by 3.8% to 231.3 billion dollars, while exports rose by 1% to billion 182.6. Billion.
The data came one day after government data showed that China’s trade surplus widened unexpectedly in December, adding to signs of recovery in the second largest economy in the world. Exports rose 14.1% in December of last year, while imports increased by 6%.
This week, investors awaited a speech Federal Reserve Chairman Ben Bernanke
About monetary policy and the recovery of the global financial crisis on Monday, as well as data on Tuesday on U.S. retail sales for the month of December.
In addition to data on Chinese GDP in the fourth quarter.
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, January 14
Markets will be closed in Japan due to a national holiday. Australia will publish a report on the change in the number of jobs advertised, which is a strong indicator of demand in the labor market.
The euro zone is to publish official data on industrial production, while Italy will also publish a report on industrial production.
The Bank of Canada will publish a report on quarterly business expectations, a leading indicator of economic health.
In the United States, will Federal Reserve Chairman Ben Bernanke to speak at the University of Michigan, and we will monitor his remarks closely for any indications about the possible future direction of monetary policy.
Later Monday, New Zealand will prepare a report on business confidence.
Tuesday, January 15
The euro zone is to publish official data on the trade balance, the difference between the value of imports and exports.
The UK is to publish official data on consumer price inflation, which accounts for a majority of overall inflation, as well as industry data on house prices, a leading indicator of inflation in the housing market.
The United States will publish government data on retail sales, a leading indicator of consumer spending, which includes the majority of economic activity, as well as official data on producer price inflation. In addition, the U.S. will publish data on manufacturing activity in New York State and a report on business inventories.
Wednesday, January 16
Australia will publish a report on consumer sentiment, a leading indicator of consumer spending, as well as government data on new car sales.
Japan is to publish official data on core machinery orders, a leading indicator of production.
The euro zone is to publish official data on consumer price inflation, while Germany will conduct an auction of government bonds with 10 years. Elsewhere in Europe, Switzerland is to publish official data on retail sales.
Later in the day, the U.S. is to publish government data on consumer inflation, as well as data on industrial production and capacity utilization rate. The country is also to publish official data on crude oil stockpiles, while the Fed will publish beige book, about current economic conditions.
Thursday, January 17
Japan is to publish official data on Tertiary Industry Activity, a leading indicator of economic activity.
Australia will publish official data on the monthly change in the number of people who claim unemployment and the unemployment rate, a leading indicator of economic health. The country will publish a report on inflation expectations.
Switzerland is to publish government data on producer price inflation, a leading indicator of consumer inflation.
European Central Bank will publish monthly bulletin on assessment data when making policy monthly interest rate decision.
Canada will publish official data on foreign securities purchases, which is linked to the demand for the currency.
Elsewhere, the United States will publish official data on building permits, a leading indicator of future construction activity, as well as data on housing. It will also publish the weekly government report on initial jobless claims and data on manufacturing activity in Philadelphia.
Later Thursday, New Zealand is to publish official data on consumer price inflation.
Friday, January 18
China will publish official data on fourth quarter GDP, the broadest measure of economic output and leading indicator of growth. Beijing will also publish government data on industrial production and fixed-asset investment and retail sales.
The UK is to publish official data on retail sales, the government’s measure of consumer spending, which accounts for the majority of overall economic activity.
Later the same day, Canada will publish official data on manufacturing sales, a leading indicator of economic activity.
The United States will surrounded the week with preliminary data from the University of Michigan on consumer confidence, a leading indicator of consumer spending.