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EUR/USD Forecast Dec. 12-16

audit of the real occasions that will move Euro to Dollar amid the week:

EUR/USD was hit hard by tentative Draghi and fell back to lower ground. Crisp PMIs, and additionally different occasions, anticipate the euro. Will it proceed with lower? Here is a standpoint for the highlights of this current week and an upgraded specialized examination for EUR/USD.

The ECB chose to diminish the measure of month to month bond purchases to 60 billion from April 2017 additionally amplified the program towards the end of the year and to slacken a couple limits. Combined with a timid tone about the way of swelling, EUR/USD in the long run dove. Prior, Italian voters dismisses the protected changes proposed by Renzi, in another hit to standard governmental issues. In any case, here, the euro recouped rapidly. In the US, the ISM Non-Manufacturing PMI beat desires, as business sectors move their thoughtfulness regarding the FED.


EUR/USD day by day diagram with support and resistance lines on it. Snap to augment:

German expansion information: Tuesday, 7:00. As indicated by the underlying read, costs ascended by 0.1% in November. The last read will probably affirm this. Likewise,, the Wholesale Price Index (WPI) is another measure of value weight in the pipeline. WPI ascended by 0.4% last time, and are presently anticipated to ascend by 0.3%.

German ZEW Economic Sentiment: Tuesday, 10:00. The ZEW overview is discharged ahead of schedule in the month. In November, the score kept progressing and achieved 13.8 focuses, reflecting developing idealism. A tick up to 14.2 is on the cards. The all-European number remained at 15.8 focuses and 16.5 is anticipated for December.

Business Change: Tuesday, 10:00. This quarterly figure is slacking yet at the same time conveys some weight. An ascent of 0.4% was seen in Q2 2016, and now we’ll get the number for Q3, which is conjecture to remain at 0.3%.

French CPI (last): Wednesday, 7:45. The second-biggest economy in the euro-zone saw costs slowing down in November as per the underlying read. The last number will likely affirm it.

Modern Production: Wednesday, 10:00. Mechanical yield dropped by 0.8% in September. October could see a bob of 0.2%. Take note of that the bigger nations have as of now discharged their figures.

Streak PMIs: Thursday morning: 8:00 for France, 8:30 for Germany and 9:00 for the euro-zone. As indicated by Markit, the buying administrators’ list for the French assembling part remained at 51.7 focuses back in November, over the 50 point limit isolating development and constriction. A score of 51.9 is normal at this point. The administrations area’s number was 51.6 focuses and 51.8 focuses is anticipated at this point. In Germany, the biggest economy, the assembling area was becoming quicker, at 54.3 focuses and an ascent to 54.6 is on the cards. Germany’s administrations division had 55.1 focuses and a little plunge to 55 is figure. In the euro-zone all in all, the assembling area PMI had 53.7 focuses and the administrations division had 53.8 focuses. Both are relied upon to remain at 53.9.

LTRO: Thursday, 12:00. The European Central Bank runs the Long Term Refinancing Operation (LTRO), a program of shoddy advances to banks. In principle, less loaning suggests more QE, yet the QE address has been replied at the last rate choice. By and by, more credits mean more cash available for use. Back in September, the aggregate loaning remained at 45.3 billion dollars.

CPI (last): Friday, 10:00. As indicated by the underlying numbers, feature CPI was 0.6% y/y, a little ascent from earlier months, on account of stable oil costs. Center swelling stayed at 0.8%. The last numbers for November are relied upon to affirm the glimmer figures.

Exchange Balance: Friday, 10:00. On account of German fares, the euro-zone appreciates a wide exchange adjust. Back in September, the surplus was 24.9 billion euros, superior to anticipated. A comparative result is on the cards for October: 25.2 billion euros.

Daily Financial News

Czech Aug Industrial Production Rebounds Sharply

Czech industrial production surged in August, after falling sharply in the previous month, figures from the Czech Statistical Office showed Friday.

Industrial production expanded 13.1 percent year-over-year in August, reversing a 14.1 percent plunge in July. That was well above the 8.3 percent climb expected by economists.

On a working-day-adjusted basis, industrial production advanced 7.7 percent in August from a year ago.

Manufacturing production grew 16.6 percent, while mining and quarrying output declined by 4.6 percent.

Month-on-month, industrial production increased a seasonally adjusted 12.1 percent in August.

Separately, the statistical office revealed that construction output decreased 5.9 percent yearly in August, following a 16.3 percent slump in the prior month. Compared to July, construction output gained 0.8 percent

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Daily Financial News

New Zealand’s first Fairtrade Climate Neutral Coffee

Fairtrade have launched New Zealand’s first climate neutral coffee, which not only helps fight climate change, but also supports communities in developing countries. In partnership with Countdown, the Climate Neutral Coffee is exclusively available at Countdown as part of their Macro brand.

Fairtrade Climate Neutral Coffee means that the coffee production, from the farm right through to the supermarket shelf, has no negative impact on the climate. To achieve this, all participants in the supply chain first work to reduce their emissions and then offset the remaining emissions through the purchase of carbon credits from Fairtrade coffee farmers.

The carbon credits are generated by climate projects in Fairtrade farming communities, such as reforestation projects in Peru, the country where the coffee originates. These initiatives help Fairtrade farmers not only to combat the impact of climate change but also to earn additional income from the sale of their carbon credits.

Countdown partnered with Fairtrade Australia & New Zealand to develop the Climate Neutral Coffee exclusively for their Macro Organic range. The innovative product maintains Countdowns commitment to providing great quality products, while also helping to minimise their impacts on the environment.

James Walker, Countdown General Manager of Corporate Affairs says, “We’re pleased to extend our range of Fairtrade certified products, and be the first to launch a Climate Neutral Coffee in New Zealand.

“Demand for certified products continues to increase and this launch showcases our commitment to providing ethical and sustainable choices to our customers. The range is not only quality Arabica coffee, but it is also organic, Fairtrade certified and Climate Neutral.”

“With stores all around New Zealand, doing our bit to reduce our carbon footprint and operate sustainably is something the Countdown team is passionate about. In June this year we won the Ministry for the Environment’s Green Ribbon award in the ‘Resilience to Climate Change’ category for our work in increasing our energy efficiency and reducing our carbon emissions. We are actively working to improve how we do business to reduce the impact we have on the environment.

Molly Harriss Olson, CEO of Fairtrade New Zealand says, “We applaud Countdown for being a market leader in sustainability and are proud to partner with them on this innovative range. By choosing Fairtrade products, consumers are supporting a global system which is empowering and enabling 1.65 million farmers in 74 countries to adapt to climate change,” says Mr Walker.

“What makes Macro Fairtrade Climate Neutral Coffee truly unique is that the carbon compensation also takes place in the Fairtrade coffee supply chain. This means that Fairtrade farmers and their communities are benefitting from a fair price for their coffee as well as additional income from the carbon credits.”

All Fairtrade Carbon Credits are certified by Gold Standard, an organisation specialising in climate security and sustainable development. Gold Standard works to maximise the impact of climate and development interventions by creating robust standards for responsible management of the planet’s resources. Together Fairtrade and Gold Standard are uniquely placed to play a part in the global response to climate change

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Financial News

USD/JPY eases from highs, back to 103.80 ahead of NFP

After reaching fresh highs above the 104.00 handle on Thursday, USD/JPY has now slipped back to the 103.85/80 band.

USD/JPY attention to Payrolls

Despite the current slide, spot keeps its rally intact at the end of the week, advancing for the second consecutive week and up around 4 cents since recent lows in the 100.00 neighbourhood seen in early September.

Along with the continuation of the selling bias around the Japanese safe haven, the greenback has been gathering extra pace backed by positive results in the US calendar and rising speculations on a Fed’s rate hike at the December meeting.

Ahead in the session, US Non-farm Payrolls are expected to show the economy has added more than 170K jobs during September, while the unemployment rate is seen at 4.9%. In addition, FOMC’s S.Fischer, L.Mester and E.George are due to speak in Washington, keeping the focus on the buck.

USD/JPY levels to consider

As of writing the pair is losing 0.13% at 103.80 and a breakdown of 101.99 (55-day sma) would aim for 101.83 (20-day sma) and finally 100.07 (low Sep.22). On the other hand, the next up barrier aligns at 104.33 (high Sep.2) ahead of 107.48 (high Jul.21) and finally 108.30 (200-day sma).

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