Future look on the market from 25 to 29 of march, 2013

Euro retreats influenced by the possibility of European rate cut

The euro rebounded against the dollar on Friday, ending the week by a higher amid by the hopes of reaching agreement on a rescue deal for Cyprus before the deadline on Monday, boosting demand for the single currency.

The euro rose against the dollar as it prepares political leaders in Cyprus to work legislation to restructure the banking sector in the country and the imposition of capital controls.

The European Central Bank said on Thursday it will stop liquidity for banks Cyprus on Monday if not agreed between the European Union and the International Monetary Fund to find an alternative solution to the rescue package.
The European Union and the International Monetary Fund on Cyprus loan of 10 billion euros, but insisted that Cyprus must find a way to raise money to have 5.8 billion euros in exchange for financial aid.

The previous agreement was rejected, which includes a tax on deposits in Cypriot banks by the country’s parliament on Tuesday.

EUR / USD hit 1.3009 the highest price on Friday before settling at 1.2991, gaining 0.71% the highest price of the day and closed higher by 0.36%, the highest price for the week.

The yen rose against the dollar for a second day on Friday after a speech by the new governor of the Bank of Japan New Haruhiko disappointing expectations monetary measures to facilitate the work more powerful soon.

Decline in the dollar / yen to its lowest price at 94.20, the lowest price for the pair since March 7, before settling at 94.48, shedding 0.45%, the lowest price for the day and shed 0.93%, the lowest rate for the week.

Sterling ended the week higher against the dollar, but pared gains after it announced the rating agency Fitch that it was studying the decision on whether was cut rating on the UK by the end of April, pointing to the weak outlook for economic growth and high levels of government debt.

Sterling found support after continued annual budget on Wednesday, advancing economic growth. In addition, allow Chancellor George Osborne to the Bank of England using unconventional tools to support the economy, but said that the inflation target will remain unchanged.

GBP / USD hit 1.5248, the highest price on Friday and the pair since February 22, before settling at 1.5230, gaining 0.37% intraday high and closed higher by 0.88% and the highest price for the week.

On Wednesday, the Fed announced it would leave monetary policy unchanged despite signs of recovery occurs in the United States, citing concerns about high unemployment levels and the risks posed by raising taxes and cutting federal government spending.

Speaking at the end of the meeting of the Bank for the two-day policy for two days, said Federal Reserve Chairman Ben Bernanke said the central bank may end gradually bond-buying program, but after that the labor market is showing signs of progress and stability

This week investors awaited developments in Cyprus because of where that if there is failure to reach an agreement will be out of Cyprus of the European Union.

Market participants awaited retail sales data also German on Tuesday amid concerns about the economic outlook for the euro zone and the Italian government debt at an auction on Thursday.

The United States will publish a series of data, including reports on durable goods orders and home sales and consumer confidence.

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, March 25

The UK is to publish industry data on mortgage approvals, a leading indicator of demand in the housing market.

Later the same day, will Federal Reserve Chairman Ben Bernanke to speak at a ceremony in London, and will monitor his remarks closely for any reference to the possible future direction of monetary policy.

Also Monday, the New Zealand is to publish official data on the trade balance, the difference between the value of imports and exports.

Tuesday, March 26

The Governor of the Reserve Bank will in Australia Glenn Stevens to speak, and we will follow his remarks closely by investors.

In the euro zone, Germany will publish official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity.

The UK is to publish private sector report on retail sales, which is an important economic indicator.

Later in the day, the U.S. is to publish a series of economic data government reports on durable goods orders and new home sales as well as a report on consumer confidence.

Wednesday, March 27

New Zealand is to publish a report on business confidence, a leading indicator of economic health. At the same time, propelled will review financial stability, which explains the circumstances about the country’s financial system.

In Switzerland will Agency for Economic Research, or F-scale deployment for economic deployment, designed to predict the direction of the average for the economy. .

The UK is to publish final data on economic growth in the fourth quarter and a government report on the country’s current account.

The euro zone is to publish preliminary data on consumer price inflation, which accounts for a majority of overall inflation. In addition, bring Italy to hold an auction of government bonds for 10 years.

Canada will publish official data on consumer price inflation.

Sagom U.S. is to publish industry data on pending home sales and a government report on crude oil stockpiles.

Thursday, March 28

Japan is to publish official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. Australia will also publish official data on private sector credit.

In the euro zone, Germany will publish official data on the change in the number of employees.

Canada will publish data monthly gross domestic product (GDP), the broadest indicator of economic activity and the key measure of the health of the economy.

The United States will publish the weekly government report on initial jobless claims and revised data on economic growth in the fourth quarter.

Friday, March 29

Japan is to publish official data on inflation in the production, and household spending is an important indicator of economic health indicators.

Remaining markets in Australia and New Zealand, Germany, Switzerland and the United Kingdom and Canada are closed to celebrate Good Friday.

In Canada, the government will announce its annual budget statement.
The United States will besiege week formal statements about personal spending and revised data from the University of Michigan on consumer confidence and inflation expectations.