Lot of event risk is on the agenda, which will be vital to gauge how the economy is performing & some of them have high market moving potential.
Data released so far -
- Australia - Private capital expenditure data released showed slowing down by 2.2%.Aussie failed at the resistance & struggling to keep the bullish momentum.
- Germany - GFK consumer confidence showed improvement at 9.7 with prior at 9.3.
Upcoming -
- Spain - GDP data will be published from Spain at 8:00 GMT, improvement in the data could result in a further flow of money to Spain. Mood towards Euro may also see improvement.
- Switzerland - Industrial production data to be released at 8:15 GMT will be vital to assess the fallout from stronger franc. Worsening will sour the mood for franc further.
- Germany - Unemployment data to be released at 8:55 GMT. Impact to be felt more on the bund market, than Euro.
- Italy - Retail sales data to be published at 9:00 GMT. Retail sales have been worsening in Italy consecutive 8 months so far.
- Euro zone - Business & Industrial confidence data to be released at 10 GMT will be important to gauge the industries view over current turmoil.
- Canada - Consumer inflation data will be released at 13:30 GMT. BOC recently sought to ease policy and inflation will play vital role over the debate on monetary policy next week. CPI mom is falling since November 2014 & if situation worsens Canadian dollar might give up its recent gain over dollar this week.
- US - Lot of event risk for the dollar. Initial jobless claims, CPI & durable goods order all to be released at 13:30 GMT. Most vital would be CPI, but chair Yellen has indicated that headline may fall further so reaction could be short lived. Yield curve may flatten further, should the CPI falls. Positive CPI would be very encouraging for the dollar bulls. FED's Lockhart & Fischer are scheduled to speak from 18:00 GMT.
- Japan - CPI & retail sales to be published late at 23:30 & 23:50 GMT. Very vital data to assess the impact of policy easing. Yen to gain ground if CPI improves.


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