The past week witnessed many important forex news, as the US dollar closed its trading last Friday with a decline against many other major currencies, after the negative data issued by the US economy on inflation rates and retail sales, which affected the expectations of raising US interest rates during the Federal Reserve meeting this month. next.
On Friday, the US economy announced its report on retail sales for the month of April, which recorded an increase by 0.4%, less than expectations that indicated a rise by 0.6%, and the consumer price index witnessed an increase for the same month by 0.2% compared to the month of March, which was recorded A decline by about 0.3%, and the inflation rate decreased during April by about 2.2% compared to the month of March, which recorded 2.4%, and the annual inflation rate decreased to reach 1.99%, which is the lowest since October 2015, which raised speculation about the Reserve Bank’s decision to raise interest rates two or more times this year.
While the euro rose against the US dollar by about 0.64% to trade at the level of 1.0931, rebounding from its lowest level in two weeks at 1.0838.
The US dollar fell against the Japanese yen by about 0.43% to trade at the level of 113.37, after the US dollar recorded its highest level in two months against the Japanese yen, during last Thursday's trading at 114.36.
On the other hand, the pound sterling was stable against the US dollar, unchanged, at the close of trading on Friday, at the level of 1.2888.
While the US dollar rose against its Canadian counterpart by about 0.12%, to trade above its highest level in 14 months at 1.3715.
The US dollar index, which measures the performance of the US dollar against many other major currencies, fell by 0.48% to trade at 99.05 points, and over the course of last week's trading, the dollar index gained by 0.61%, recording the first weekly rise in five weeks.
This week will witness a lot of forex news and economic data: In the US, the US economy is due to release data on the housing sector such as building permits, home construction and other data on industrial production and jobless claims.
In Britain, data on inflation and retail sales will be published, which will be an indicator of the strength of the British economy and other data on the labor sector, and in Japan, data on the growth rate of the Japanese economy will be announced during the first quarter of this year.
[banner-group name='bannerforex']Here are the details of the most important forex news this week:
Monday 15 May
The United States will announce its report on the activity of the manufacturing sector in New York, in China it will release its data on the rate of industrial production and fixed asset investment, the New Zealand economy will announce its data on retail sales, and in Switzerland the producer price index will be announced.
Tuesday May 16th
The US economy is scheduled to release its data on the housing sector, which is represented in building permits, housing buildings and other data on industrial production. Britain The Consumer Price Index will be released, while in Australia the Central Bank of Australia will publish the minutes of its monetary policy meeting.
Wednesday 17 May
The European economy will announce the consumer price index, in Britain the monthly jobs report will be released, in New Zealand will be published data on producer prices, in Australia the wage price index will be revealed, and in Canada it will release its data on manufacturing sales.
Thursday, May 18th
The US economy will release its data on initial jobless claims and the activity rate of the manufacturing sector in the Philadelphia region, and in Britain, data will be published on retail sales, and Australia will announce its monthly jobs report.
Friday 19 May
The Canadian economy is expected to release its report on inflation and retail sales.
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