{"id":36827,"date":"2013-09-15T16:04:25","date_gmt":"2013-09-15T20:04:25","guid":{"rendered":"http:\/\/countingpips.com\/?p=36827"},"modified":"2013-09-15T16:04:25","modified_gmt":"2013-09-15T20:04:25","slug":"us-dollar-defensive-last-week-week-ahead-us-federal-reserve-taper","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2013\/09\/15\/us-dollar-defensive-last-week-week-ahead-us-federal-reserve-taper\/","title":{"rendered":"US Dollar on defensive last week – The Week Ahead is all about the US Federal Reserve “Taper”"},"content":{"rendered":"

By CountingPips.com<\/strong><\/p>\n

The US dollar lost ground across the board against the other major currencies last week as the American currency fell for the week against the euro, Swiss franc, Japanese yen, Canadian dollar, Australian dollar, British pound sterling and the New Zealand dollar.<\/p>\n

This coming week is all about the US Federal Reserve Committee and whether they will scale back or “taper” their $85 billion a month (QE3) bond buying stimulus program. \"Ben-Bernanke-testimony\"<\/a>The FOMC committee interest rate decision takes place on Wednesday afternoon and the market is largely expecting the Fed to make some kind of reduction in the the stimulus program. A recent poll by Bloomberg News showed that economists were expecting for the stimulus to be scaled back to $75 billion a month.<\/p>\n

The market reaction (and US Dollar trading action) will likely depend, first of all on if there is reduction, the size of the reduction and finally the comments and guidance from Chairman Ben Bernanke following the committee announcement.<\/p>\n

In addition to the US Fed news this week, there is also major economic news on the Monday schedule with the release of the Euro Zone consumer price index. Tuesday’s schedule has the United Kingdom and the United States consumer price index releases. Wednesday is headlined by the US Fed announcement and has the New Zealand GDP report release. Thursday holds the Switzerland interest rate decision, United Kingdom retail sales and the US weekly jobless claims while Friday has the Canadian consumer price index and euro zone consumer confidence releases.<\/p>\n

Please See the week’s highlighted economic events below:<\/p>\n

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\n
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This Week’s Economic Highlights:<\/strong><\/p>\n

Sunday, September 15<\/strong><\/p>\n

China — foreign direct investment
\nNew Zealand — Westpac consumer confidence
\nNew Zealand — services index<\/p>\n

Monday, September 16<\/strong><\/p>\n

Euro zone — consumer price index<\/span><\/strong>
\nUnited States — industrial production
\nUnited States — manufacturing production<\/p>\n

Tuesday, September 17<\/strong><\/p>\n

Australia — RBA meeting minutes
\nUnited Kingdom — producer prices
\nUnited Kingdom — consumer price index<\/span><\/strong>
\neuro zone — Germany ZEW survey
\nUnited States — consumer price index<\/span><\/strong>
\nUnited States — long-term TIC flows
\nUnited States — nahb housing market Index<\/p>\n

Wednesday, September 18<\/strong><\/p>\n

Australia — conference Board leading index
\nUnited Kingdom — bank of England minutes
\nSwitzerland — ZEW survey
\nUnited States — housing starts\/building permits
\nUnited States — Federal Reserve interest rate decision
\nUnited States — Federal Reserve comments on buying program<\/strong><\/span>
\nNew Zealand — GDP report<\/span><\/strong>
\nJapan — merchandise trade balance<\/p>\n

Thursday, September 19<\/strong><\/p>\n

Japan — leading index
\nSwitzerland — trade balance
\nSwitzerland — interest rate decision<\/strong><\/span>
\nUnited Kingdom — retail sales
\nUnited States — weekly jobless claims
\nUnited States — leading indicators
\nUnited States — Philadelphia Federal Reserve survey
\nJapan — foreign bonds\/foreign stocks buying<\/p>\n

Friday, September 20<\/strong><\/p>\n

Canada — consumer price index
\neuro zone — consumer confidence<\/p>\n

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Article by CountingPips.com – Forex Blog<\/a><\/span><\/strong><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By CountingPips.com The US dollar lost ground across the board against the other major currencies last week as the American currency fell for the week against the euro, Swiss franc, Japanese yen, Canadian dollar, Australian dollar, British pound sterling and the New Zealand dollar. This coming week is all about the US Federal Reserve Committee … <\/p>\n

Continue reading “US Dollar on defensive last week – The Week Ahead is all about the US Federal Reserve “Taper””<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-36827","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/36827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=36827"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/36827\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=36827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=36827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=36827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}