Investing.com – Last week saw the U.S. dollar rise broadly on Friday, after government data showed that the U.S. economy added significantly fewer than expected jobs in January, but the unemployment rate posted an unexpected drop.
The Department of Labor said that 36,000 jobs were added, far less than the 150,000 forecast and the smallest gain in four months. However, the unemployment rate unexpectedly fell to 9.0% from 9.4%.
The data saw the euro decline against the dollar for the third straight day.
On Thursday, the single currency fell 1.3% against the dollar, the most in ten weeks, after European Central Bank President, Jean-Claude Trichet quashed expectations for a near term interest rate hike when he said inflation risks were balanced.
Meanwhile, the pound turned slightly weaker against the dollar on Friday, but remained well supported after hawkish comments by Bank of England policymakers earlier in the week fuelled expectations that U.K. interest rates could rise as early as May.
Also Friday, the Canadian dollar touched its highest level since May 2008 after official data showed that the Canadian economy added 69,200 new jobs in January, more than four times what the market was expecting.
Next week, the U.S. is to publish key weekly data on initial jobless claims while the Bank of England is to announce its official bank rate. The chairman of the U.S. Federal Reserve, Ben Bernanke is also to speak.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
Monday, February 7
Australia is to publish official data on retail sales, the primary gauge of consumer spending, which accounts for the majority of overall economic activity. The country is also to publish a report on the change in the number of jobs advertized.
In Japan, the Governor of the Bank of Japan, Masaaki Shirakawa is to speak at a public engagement, his comments will be closely watched for any indication of the future direction of monetary policy. The bank is also to publish a report on lending and M2 money stock while the government is to publish data on the country’s current account.
In the euro zone, Germany is to release official data on factory orders, a leading indicator of production. Also Monday, market research group, Sentix is to publish a report on investor confidence in the single currency bloc.
Later in the day, Canada is to publish official data on the number of new building permits issued, an important gauge of future construction activity, while the U.S. is to release a government report on consumer credit.
Tuesday, February 8
In the euro zone, Germany is to publish official data on industrial production, while France is to release data on its trade balance, the difference in value between imports and exports.
The U.K. is to release industry data on retail sales and house prices, both important indicators of economic health. Meanwhile, Switzerland is to publish official data on the country’s unemployment rate.
In addition, Canada is to publish government data on housing starts, a leading indicator of economic health, while the U.S. is to publish the results of a survey on economic optimism.
Also Tuesday, Australia is to publish data on consumer sentiment, a leading indicator of consumer spending.
Wednesday, February 9
In the U.S., the head of the Federal Reserve Ben Bernanke is to testify before the Budget Committee in Washington. His comments will be scrutinized for clues to the future direction of monetary policy. The country is also to publish official data on crude oil inventories.
The U.K. is to publish official data on its trade balance, as well as industry data on shop price changes. Elsewhere, Germany is also to release a report on its trade balance.
Japan is to publish government data on core machinery orders, a leading indicator of production. The country is also to publish data on household confidence and the corporate goods price index as well as preliminary data on machine tool orders.
Thursday, February 10
The U.S. is to release its key weekly report on initial jobless claims, a leading indicator of overall economic health. The country is also to publish official data on its federal budget balance as well as a report on wholesale inventories and natural gas storage.
In the euro zone, France and Italy are both to produce data on industrial production, while the ECB is to publish its monthly bulletin, which contains a detailed analysis of current and future economic conditions.
Meanwhile, the U.K. is to release official data on manufacturing and industrial production, while the National Institute of Economic and Social Research is to publish its estimate of monthly gross domestic product, in an effort to predict the quarterly government data.
Later in the day, the Bank of England is to announce its benchmark interest rate. The BoE will also release its Monetary Policy Committee rate statement, which contains the outcome of their vote on interest rates and other policy measures.
Elsewhere, Switzerland is to publish official data on consumer price inflation, as well as a report on consumer climate, a leading indicator of consumer spending.
Also Thursday, Australia is to release official data on employment change, as well as the country’s unemployment rate, an important signal of overall economic health. Later in the day, Reserve Bank of Australia Governor Glenn Stevens is due to testify before the House of Representatives Standing Committee on Economics.
In addition, Canada is to publish official data on new home prices, a leading indicator of the housing industry’s health, while New Zealand is to produce official data on food price inflation.
Friday, February 11
The U.S. is to round up the week by with an official report on its trade balance, while the University of Michigan is to produce preliminary data on consumer sentiment and inflation expectations.
In the euro zone, Germany is to release final data on consumer price inflation as well as a report on wholesale prices, while France is to publish preliminary data on non-farm employment.
Later in the day, ECB President Jean-Claude Trichet is to speak at a public engagement. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.
Meanwhile, the U.K. is to publish official data on producer price inflation, a leading indicator of consumer inflation.
Also Friday, Canada is to release official data on its trade balance, while markets in Japan are to remain closed for National Foundation Day.
The Department of Labor said that 36,000 jobs were added, far less than the 150,000 forecast and the smallest gain in four months. However, the unemployment rate unexpectedly fell to 9.0% from 9.4%.
The data saw the euro decline against the dollar for the third straight day.
On Thursday, the single currency fell 1.3% against the dollar, the most in ten weeks, after European Central Bank President, Jean-Claude Trichet quashed expectations for a near term interest rate hike when he said inflation risks were balanced.
Meanwhile, the pound turned slightly weaker against the dollar on Friday, but remained well supported after hawkish comments by Bank of England policymakers earlier in the week fuelled expectations that U.K. interest rates could rise as early as May.
Also Friday, the Canadian dollar touched its highest level since May 2008 after official data showed that the Canadian economy added 69,200 new jobs in January, more than four times what the market was expecting.
Next week, the U.S. is to publish key weekly data on initial jobless claims while the Bank of England is to announce its official bank rate. The chairman of the U.S. Federal Reserve, Ben Bernanke is also to speak.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
Monday, February 7
Australia is to publish official data on retail sales, the primary gauge of consumer spending, which accounts for the majority of overall economic activity. The country is also to publish a report on the change in the number of jobs advertized.
In Japan, the Governor of the Bank of Japan, Masaaki Shirakawa is to speak at a public engagement, his comments will be closely watched for any indication of the future direction of monetary policy. The bank is also to publish a report on lending and M2 money stock while the government is to publish data on the country’s current account.
In the euro zone, Germany is to release official data on factory orders, a leading indicator of production. Also Monday, market research group, Sentix is to publish a report on investor confidence in the single currency bloc.
Later in the day, Canada is to publish official data on the number of new building permits issued, an important gauge of future construction activity, while the U.S. is to release a government report on consumer credit.
Tuesday, February 8
In the euro zone, Germany is to publish official data on industrial production, while France is to release data on its trade balance, the difference in value between imports and exports.
The U.K. is to release industry data on retail sales and house prices, both important indicators of economic health. Meanwhile, Switzerland is to publish official data on the country’s unemployment rate.
In addition, Canada is to publish government data on housing starts, a leading indicator of economic health, while the U.S. is to publish the results of a survey on economic optimism.
Also Tuesday, Australia is to publish data on consumer sentiment, a leading indicator of consumer spending.
Wednesday, February 9
In the U.S., the head of the Federal Reserve Ben Bernanke is to testify before the Budget Committee in Washington. His comments will be scrutinized for clues to the future direction of monetary policy. The country is also to publish official data on crude oil inventories.
The U.K. is to publish official data on its trade balance, as well as industry data on shop price changes. Elsewhere, Germany is also to release a report on its trade balance.
Japan is to publish government data on core machinery orders, a leading indicator of production. The country is also to publish data on household confidence and the corporate goods price index as well as preliminary data on machine tool orders.
Thursday, February 10
The U.S. is to release its key weekly report on initial jobless claims, a leading indicator of overall economic health. The country is also to publish official data on its federal budget balance as well as a report on wholesale inventories and natural gas storage.
In the euro zone, France and Italy are both to produce data on industrial production, while the ECB is to publish its monthly bulletin, which contains a detailed analysis of current and future economic conditions.
Meanwhile, the U.K. is to release official data on manufacturing and industrial production, while the National Institute of Economic and Social Research is to publish its estimate of monthly gross domestic product, in an effort to predict the quarterly government data.
Later in the day, the Bank of England is to announce its benchmark interest rate. The BoE will also release its Monetary Policy Committee rate statement, which contains the outcome of their vote on interest rates and other policy measures.
Elsewhere, Switzerland is to publish official data on consumer price inflation, as well as a report on consumer climate, a leading indicator of consumer spending.
Also Thursday, Australia is to release official data on employment change, as well as the country’s unemployment rate, an important signal of overall economic health. Later in the day, Reserve Bank of Australia Governor Glenn Stevens is due to testify before the House of Representatives Standing Committee on Economics.
In addition, Canada is to publish official data on new home prices, a leading indicator of the housing industry’s health, while New Zealand is to produce official data on food price inflation.
Friday, February 11
The U.S. is to round up the week by with an official report on its trade balance, while the University of Michigan is to produce preliminary data on consumer sentiment and inflation expectations.
In the euro zone, Germany is to release final data on consumer price inflation as well as a report on wholesale prices, while France is to publish preliminary data on non-farm employment.
Later in the day, ECB President Jean-Claude Trichet is to speak at a public engagement. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.
Meanwhile, the U.K. is to publish official data on producer price inflation, a leading indicator of consumer inflation.
Also Friday, Canada is to release official data on its trade balance, while markets in Japan are to remain closed for National Foundation Day.