{"id":89798,"date":"2016-05-16T11:08:54","date_gmt":"2016-05-16T15:08:54","guid":{"rendered":"http:\/\/countingpips.com\/?p=89798"},"modified":"2016-05-16T11:08:54","modified_gmt":"2016-05-16T15:08:54","slug":"little-us-data-expected-this-week","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/05\/little-us-data-expected-this-week\/","title":{"rendered":"Little US data expected this week"},"content":{"rendered":"
May 16, 2016<\/div>
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By IFCMarkets<\/a><\/p>\n

On Friday the US dollar index edged up while the US stocks closed lower. The US currency strengthened on strong economic data. The US retail sales rose this April by 1.3% having hit a fresh high since March 2015 which is far above the expected increase of 0.8%. The consumer confidence index by Michigan University for May also smashed expectations having touched the highest since last June at 95.8 points. Thanks to this some investors raised the US GDP growth forecast for Q1 2016 from 0.5% to 0.9%. The official data will be released next week on Friday, May 27. No significant economic data are expected today in the US. The US stock market indices closed lower last Friday on weak earnings data from Nordstrom (-13,4%), J.C. Penney (-2,8%) and Dillard’s (-1,3%). This week the corporate earnings season for Q1 2016 is to come to an end. Compared to the last year, the total earnings of S&P 500 components fell 5.4% while revenues fell by 1.9%. However, the index itself is at last year\u2019s level is 0.6% above the year opening. It is traded with \u0420\/\u0415 of 16.5. Some investors believe the S&P 500 is overpriced.<\/p>\n

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On Monday European stock indices are dipping for the 3rd day in a row. Investors reacted on negative economic data from China released over the weekend. The data raise the risks for the global economic slowdown. The industrial production and retail sales for April rose in China less than expected. Today in Germany, Austria, France and Netherlands there is a holiday \u2013 \u00abWhit Monday\u00bb. No economic news is expected.<\/p>\n

Nikkei index slightly rose today after the Japan\u2019s prime minister said the G7 leaders agreed over the necessity to adopt fiscal measures to stimulate demand in support of the global economy. The G7 summit is to take place in Japan on May 20-21. This week the Japan\u2019s GDP for q1 2016 will come out. It may influence the yen and Nikkei indices. The GDP is expected to gain 0.2% after the 1.1% decline in Q4 2015.<\/p>\n

Today oil prices have hit a fresh high since last November as U.S. Energy Information Administration said the global oil supply fell 3.75mln barrels a day mainly on military operations in Libya and Nigeria and on fires in Canada. The global oil production showed a record slump in 5 years. The Goldman Sachs investment bank spent a long time expecting the oil prices to reach $20 a barrel but now revised its forecast for WTI up to $45 for Q2 2016 and to $50 in second half of this year. After strong movements the WTI oil prices may reach $60 a barrel in Q4 2016. The optimistic forecast by Goldman Sachs supported the current oil prices.<\/p>\n

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Rice is advancing today on the news Egypt is planning to purchase next month 1mln tonnes from local producers in order to replenish national stocks. In 2015 Egypt produced 3.75mln tonnes of rice while it consumes around 3.3mln tonnes. Previously, Philippines reported the 10% fall in rice production to 3.9mln tonnes in this farming season compared to the previous season. This is below the expected 4.01mln tonnes.<\/p>

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Sugar prices edged up after the Platts Kingsman agency raised the forecast of its global deficit in season 2016\/17 to 7.67mln tonnes from 6.38mln tonnes in previous forecast. This is far above the deficit of 5.48mln tonnes in 2015\/16. Sugar deficit may be caused by poor crops in Thailand and possible increase in ethanol production from the Brazilian cane amid rebounding oil prices.<\/p>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets On Friday the US dollar index edged up while the US stocks closed lower. The US currency strengthened on strong economic data. The US retail sales rose this April by 1.3% having hit a fresh high since March 2015 which is far above the expected increase of 0.8%. The consumer confidence index by […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-89798","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/89798","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=89798"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/89798\/revisions"}],"predecessor-version":[{"id":89802,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/89798\/revisions\/89802"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=89798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=89798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=89798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}