EUR Higher on Positive DataDecember 16, 2013 Posted by: Joe O'Leary
The euro rose against the dollar on Monday as data showed euro zone showed business activity picking up while uncertainty over the Federal Reserve's stimulus kept investors wary of the U.S. currency. German manufacturing activity and the Flash Eurozone Composite Purchasing Managers' Index (PMI) both beat forecasts in December. The yen rose as investors bought the safe-haven currency after tepid Chinese manufacturing data fuelled concern about recovery in the world's second-largest economy. An uptick in Japanese business sentiment supported the yen at the margins, but most analysts said the gains would probably not last. The Australian dollar hovered near a three-month low ahead of what could be an eventful week with investors awaiting a key U.S. Federal Reserve meeting, while the New Zealand dollar held firm. The Canadian dollar was little changed against the USD amid caution ahead of a Federal Reserve policy meeting at which some market participants expect the Fed may announce it will begin to wind down its stimulus
• Foreigners poured money back in the United States in October at the biggest monthly clip in five years after they fled from them in September on fears that the government could default on some of its debt obligations, U.S. Treasury data showed.
• US November industrial production jumped 1.1% (median 0.2%).
• US Q3 nonfarm productivity grew 3.0% (median 2.2%) from 1.9% initially and 1.8% in Q2
• Brazil cut their economic growth forecasts for a second straight week, as domestic demand shows signs of weakening, according to a central bank survey.
• Canadian consumer sentiment faded. The weekly sentiment fell to 58.3 the lowest in a month.
12/17 USD: CPI (Nov.)
12/17 GBP: PPI Output (Nov.)
12/18 YEN: All Industry Activity Index (Nov.)
12/19 GBP: Retail Sales (Nov.)
12/19 USD: Existing Home Sales (Nov.)
12/19 USD: Leading Index (Nov.)
12/20 USD: GDP 3Q
12/20 EUR: Consumer Confidence (Dec.)
12/20 GBP: UK GDP (Q3)
12/16 CAD: CPI (Nov.)
JPY 102.94Read More