Monday, November 20, 2006

Forex News: Dollar Gained on Firm Leading Indicators

Forex News

00:00 Japan Bank of Japan release minutes for October policy meeting 08:30 Canada October Leading Indicators (exp 0.4%, prev 0.4%) Canada September Retail Sales (exp ¡V0.4%, prev 1.0%) Canada September Core Retail Sales (exp 0.1%, prev 0.4%) 18:50 Japan October Adjusted Merchandise Trade Balance (exp 666.7 billion yen, prev 419.9 billion yen) Japan October Merchandise Trade Balance (exp 771.4 billion yen, prev 1013.9 billion yen) Japan September All Industry Activity Index (exp ¡V0.1%, prev 0.7%)

The dollar gained slightly following a sharp upward revision of U.S. September leading economic indictors. The October figure came in line with the expectation at 0.2%, and the September initial reading of 0.1% was revised up to 0.4%, indicating the economy is likely to remain in good shape and a soft landing is expected. The greenback strengthened from around 1.2830 to 1.2810 after the release of the data.

The market is likely to trade quietly during this Thanksgiving week. A key economic indicator worth noting is German IFO survey due this Wednesday.


Post a Comment

<< Home