The recently released forex news and US data revealed that inflation rates, retail sales data and consumer prices reached their lowest level since February 2016 due to the decline in fuel prices, as retail sales decreased by 0.2%, and consumer prices fell in March by 0.3% which supported the dollar’s decline The US dollar against the major currencies until the weekend, we present some data that may reveal to us the trends of global financial markets and the movement of currency prices during the next week.
1- The speech of the Governor of the Bank of Japan:
In important forex news, Bank of Japan Governor Haruhiko Kuroda delivered his speech on Monday amid expectations of persistent negative long-term interest rates and fears that the bank will be able to maintain its yield control, despite Kuroda's recent speech announcing that the bank is not planning to increase long-term debt and is aiming to expand Quantitative easing policy and 2% inflation to boost the Japanese economy.
2- US home building permits:
US home building permits decreased by 6.2%, contrary to expectations, falling to 1.21 million units, compared to analyst expectations of about 1.26 million units, but it is 4.3% higher than the same period last year. Home prices rose by 3.0% in February, which It is the highest reading in four months.
3- US oil stocks:
The Energy Information Administration announced a sharp decline in US oil stocks, as they fell by 2.2 million barrels during the week ending on April 7, just one day after Saudi Arabia announced its support for the proposal to extend the production cut agreement, while expectations were for an average decrease of about 100,000 barrels and accordingly Oil prices recorded a significant increase, the highest since last December.
4New Zealand inflation data:
New Zealand's CPI results for the fourth quarter of 2016 recorded an increase of 0.4%, which exceeded analyst expectations for an increase of 0.3%. These results were driven by higher energy prices, construction costs, an increase in domestic spending and demand for services, and these results put the inflation rate to fall within the range Target from %1 to 3% Consumer prices are expected to increase by 0.8% in the first quarter of this year, and expectations indicate that interest rates will remain unchanged during this year, but after the inflation rate reaches 2%, interest rates may be raised during the year 2018. .
5- Philadelphia Manufacturing Index:
The results of the Philadelphia Manufacturing Index showed a decline in manufacturing activity by more than 10 points, as it recorded 32.8 points in March, compared to 43.3 points in February, and it is expected to record a greater decline, recording 25.6 points in April, but factory orders increased by 38.6 points in March compared to By 38.0 in February, the employment index witnessed the highest rise since November 2014 to 17.5 in March compared to 11.1 in February.
6- US unemployment benefits claims:
Unemployment claims in the United States for the week ending April 8 witnessed an unexpectedly sharp drop, with only 234,000 claims recorded, indicating that the US labor market is still strong despite the weak growth of US jobs data during the month of March, which proves that the slowdown in the labor market Last month it was only temporary, and unemployment claims are expected to continue declining to 241K this week.
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