{"id":64826,"date":"2014-12-07T06:22:04","date_gmt":"2014-12-07T11:22:04","guid":{"rendered":"http:\/\/countingpips.com\/?p=64826"},"modified":"2014-12-07T16:04:06","modified_gmt":"2014-12-07T21:04:06","slug":"the-week-ahead-snb-rbnz-decisions-ecbs-tltro-and-japans-election","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/12\/the-week-ahead-snb-rbnz-decisions-ecbs-tltro-and-japans-election\/","title":{"rendered":"The Week Ahead: SNB, RBNZ decisions, ECB\u2019s TLTRO and Japan\u2019s election"},"content":{"rendered":"
December 7, 2014<\/div>
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Article by http:\/\/growthaces.com<\/a><\/p>\n

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\"Ecconomi<\/p>\n

EUR\/USD<\/strong><\/p>\n

The coming week will bring relief to investors after increased market activity on Thursday (ECB meeting) and Friday (US non-farm payrolls data). The main events that will attract the attention are scheduled for the second half of the week: the ECB\u2019s second TLTRO auction (on Thursday), US retail sales data (Thursday), Euro zone industrial output data (Friday) and U.S. Michigan consumer confidence (Friday). The medium-term outlook for the EUR\/USD is bearish \u2013 the rate is likely to fall below 1.2200, but a slight recovery in the short-term cannot be excluded.<\/p>\n

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GBP<\/strong><\/p>\n

The most important economic release in the United Kingdom this week is industrial production reading (on Tuesday). We have also UK trade balance data on Wednesday, but the reaction of the GBP is likely to be limited.. The GBP may recover slightly against the USD this week. However, the medium-term outlook is still bearish. The GBP will be probably relatively strong against other major currencies.<\/p>\n

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JPY<\/strong><\/p>

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The agenda for the USD\/JPY is busy this week. Third-quarter GDP data will be revised on Monday (00:50 GMT). The release of consumer confidence index is scheduled for Wednesday and machinery orders data for Thursday. The attention will be focused on general election (December 14). The projections showed that Japanese Prime Minister Shinzo Abe\u2019s ruling party may increase its seats and his coalition keep its two-thirds majority in parliament\u2019s lower house. The USD\/JPY remains in bullish trend. The nearest resistance level is 121.06 (76.4% of the 135.20-75.31 slide). Breaking above this level will open the way for further gains.<\/p>\n

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CHF<\/strong><\/p>\n

In the opinion of GrowthAces.com the Swiss central bank will keep the benchmark rate unchanged at its meeting on Wednesday. Inflation remains very low and economic growth is slowing, but the central bank is strongly unwilling to bring rates into negative territory. The SNB is also unlikely to change its EUR\/CHF floor, mainly due to recent depreciation of the EUR against other major currencies. However, lower oil prices may result in lower inflation projection. Any action from the SNB will result in strong gains in the EUR\/CHF and USD\/CHF rates, but the likelihood of such a scenario is low.<\/p>\n

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AUD<\/strong><\/p>\n

After the strong collapse of the AUD\/USD rate last week, we expect a slight recovery in the coming days. The AUD traders will be focused on employment data (scheduled for Thursday) this week. We should note the correlation ratio between the AUD\/USD in recent two weeks days amounted to 87% vs. the correlation of 68% calculated in 30-days period. (See our latest Correlation Matrix<\/a>). Changes in commodities prices will also have strong influence on the AUD traders\u2019 decisions.<\/p>\n

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GrowthAces.com<\/a> is an independent macroeconomic research consultancy for traders. We offer you daily forex analysis with forex trading signals. The service covers forex forecasts and signals for following currencies: EUR, USD, GBP, JPY, CAD, CHF, AUD, NZD as well as emerging markets. Our subscribers should expect to receive: forex trading strategies, latest price changes, support and resistance levels, buy and sell forex signals and early heads-up about the potential fx trading opportunities. GrowthAces.com<\/a> offers also daily macroeconomic fundamental analysis that enables you to see fundamental changes on forex market. We provide in-depth analysis of economic indicators resulting from knowledge, experience, advanced statistics and cutting-edge quantitative tools.<\/p>\n

We encourage you to subscribe to our daily forex newsletter on http:\/\/growthaces.com<\/a> to get daily analysis for forex traders. We intend that our consultancy should help you make better decisions. At GrowthAces.com<\/a> we give our best to you \u2013 always greatest quality, usefulness and profitability.<\/p>\n

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Article by http:\/\/growthaces.com EUR\/USD The coming week will bring relief to investors after increased market activity on Thursday (ECB meeting) and Friday (US non-farm payrolls data). The main events that will attract the attention are scheduled for the second half of the week: the ECB\u2019s second TLTRO auction (on Thursday), US retail sales data (Thursday), […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-64826","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/64826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=64826"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/64826\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=64826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=64826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=64826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}