Forex Week In Review August 20th to August 24th

 

IntelligentHQ Forex Week In Review In Association with OANDA Corporation

Report by  Dean Popplewell

bio_dean-e1339923416435 Dean Popplewell has a wealth of  experience: professional  trader for 10 years,  trader for four years, and head of the global trading desks at various  in Canada. Dean is ’s resident currency analyst and has been writing’s daily forex blog since January 2007 as a way to share some of his forex experience with the  community.

Week in FX Europe Leaders Ponder Greek Bailout Extension wk_hm20120817

This week saw a considerable number of politicians and policy makers make statements regarding Greece. German policy makers were probably the toughest giving no quarter and hinting at inflexibility. This was preempting Greek PM Samaras due on German soil to discuss an extension on the bailout agreement. Not on the size of the funds, but on the agreement’s deadline. Angela Merkel will give Greece the benefit of the doubt and will not make any additional judgments until the troika formed by the ECB, the IMF and the European Commission releases their report on Greece.

EUROPE Week in FX

Week in FX AMERICAS Fed FOMC Minutes

The Fed released the FOMC minutes this week and there were strong hints that the US Central Bank will make an announcement in the coming weeks about QE3. Fed Chairman Ben Bernanke is scheduled to speak August 31st at the Jackson Hole Economic symposium, although some analysts have suggested that the cryptic “fairly soon” in the minutes might be pointing at the US Presidential elections that happen in November.
AMERICAS Week in FX

Week in FX ASIA China Growth Slows Down 

China’s manufacturing is inline to contract at a faster pace than expected. Demand for Chinese good has slowed down and even though production has not contracted at the same pace it is expected to wind down. This slowdown has impacted the Australian Economy as China is the largest trading partner to the resource heavy nation. Australian exports have suffered and mining and other resource projects have been put on hold. The Australian Resources Minister has said in an interview: “The resources boom is over”
ASIA Week in FX


WEEK AHEAD

  • EUR Samaras-Hollande meeting
  • USD Consumer Confidence
  • EUR Harmonised Index of Consumer Prices
  • US USD Fed’s Beige Book
  • EUR Unemployment Change
  • USD Core Personal Consumption Expenditure – Prices Index
  • CAD Gross Domestic Product
  • USD Fed’s Bernanke Speech Jackson Hole Speech

 

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