The Forex News Calendar and the Currency Market Movements


According to the forex news calendar the GBP has continued to make slight losses on the USD on the back of Eurozone debt problems. The consumer mood has significantly deteriorated as people begin to assess their future in light of the changing alignment of power economies. The sales report from UK reported a 0.2% m/m fall.

The August decline was 0.6% m/m. This is a reversal of the previous increments. The retail sales are not providing the boost which many politicians had hoped for. Rioting is just one of the factors that have been blamed. Shops were losing money and business. London is also in danger of losing its valuable place as a premium tourist destination on account of security concerns.

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Income levels in the United Kingdom continue to fall. The biggest fall yet has been suffered in three decades. Consumers will naturally try to hang onto their GBP. Spending is one of the critical engines of economic growth in the absence of a viable manufacturing base. It is from this perspective that the GPB has fallen 0.04% when compared to the struggling USD.

The forex news calendar now turns to the JPY which has extended its slight losses against the US Dollar. The Bank of Japan might be forced to intervene in order to protect the vested interests within that economy. A strong currency is not necessarily in the interest of the export market because it makes the products uncompetitive in the global environment.

When looking at the CAD, the currency continues to gain strength against the USD. This is based on the rally in commodity currencies which include the NZD and AUD. Investors have not been getting much noise from Australia but have still narrowed the odds on a possible cut in interest rates. Employment fell in August and that led to a jobless rate that is on a 10 month high.

Coordinating national dynamics for purpose of forex transactions

The Canada CPI is of interest to investors. They are particularly interested in the retail sales figures that are being announced during the FOMC speech. The Harper Conservative Government started with promises of austerity but it seems that the reality of the economy has forced them to change the dynamics. They are now talking about rescheduling cuts.

Public spending is likely to flood the market with useful dollars. It remains to be seen whether this will fuel inflation fears given the fact that the state is a major employer. There has to be a certain level of restraint shown when interpreting the forex news calendar in terms of making decisions about the future.


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