Forex news and the most important events on the economic calendar this week, March 27 to 31

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Forex news witnessed many important events, as the dollar closed last Friday's trading, falling against the Japanese yen, to its lowest level in four months, after announcing the decision of members of the Republican Party to enact new legislation on the health care law, before the vote on it.

The rate of decline of the US dollar against the Japanese yen during the past week amounted to 1.166%, and on Friday, the US dollar rose against the Japanese yen by about 0.4%, to trade at the level of 111.36 yen / 1 dollar, after recording its lowest level in four months at the level of 110.63 yen / 1 dollar.

One of the important forex news is that members of the Republican Party prepared new legislation on the health care law that “Donald Trump” presented to the US Congress before the House vote on it, which raised many doubts about the ability of “Donald Trump” to implement his promised pledges of tax reform and expansion spending rates.

Analysts and economic experts believe that Trump's failure in his first step on the path of his economic reforms is a dangerous indication of his ability to abide by his pledges and future plans, which include tax cuts and expanding public spending in order to restructure infrastructure.

The dollar index ended its trading on Friday, unchanged at 99.59 points, after hitting its lowest level in four months at 99.366 points.

Forex newsThe euro rose against the US dollar, achieving gains by 0.14%, to trade at the level of 1.0797, near its highest level in seven weeks, which was recorded last Wednesday. This broad support comes from the increasing expectations that the European Central Bank will raise interest rates before the end of this year, along with the increase Hopes that the leader of the far-right party, Marine Le Pen, will not win the French presidential elections, especially after the strong blow to the far-right Freedom Party led by Geert Wilders and its loss in the legislative elections in the Netherlands.

While the British pound fell against the US dollar, with losses by about 0.38%, to trade at the level of 1.2472, in light of the British government’s official preparations to secede from the European Union.

At the same time, the Canadian dollar fell against its American counterpart, with the US dollar ahead of the Canadian dollar by about 0.18% and trading at the level of 1.3375, due to the negative data on inflation rates shown by the Canadian economy, which increased expectations that the Central Bank of Canada would keep interest rates at their current levels unchanged.

As for the most important forex news this week, it is likely that the focus of financial markets and businessmen will continue to monitor the latest political developments in the United States and the economic plans that Trump promised to implement.

It is worth noting that the US dollar jumped to its highest level in 14 years in the weeks following the presidential elections as a result of increased expectations that the pledges committed by Trump would be a strong driver for US economic growth rates and inflation rates, but the US dollar recorded a decline in its last week after estimates It is difficult to implement the economic reforms promised by Trump.

It is expected that several important economic reports and data will be released this week, in addition to a group of Federal Reserve members' statements, which are expected to address the future of monetary policy.

Here are details of the most important economic events for this week:

Monday 27 March

The Ifo Institute is expected to release its report on the German business climate. On the other hand, the President of the Reserve Bank of Chicago, Charles Evans, and the President of the Reserve Bank of Dallas, Robert Kaplan, will speak separately.

Tuesday 28th March

The US economy will release its report on consumer confidence rates, and Dallas Reserve Bank President Robert Kaplan will deliver several statements.

Elsewhere, Central Bank of Canada President Stephen Poloz will talk about monetary policy.

Wednesday, March 29th

In the United States, pending home sales will be announced, and the President of the Reserve Bank of Chicago, “Charles Evans,” will speak, and in Britain, data on net lending will be released.

Thursday 30 March

The European economy will release preliminary data on inflation rates in Germany and France, and in the United States, the US economy will announce the revised data on growth rates for the fourth quarter of last year, in addition to the weekly data on jobless claims.

Friday, March 31st

Japan will publish its report on household spending rates and inflation rates, and in China, China will release data on the industrial and service sectors, and in New Zealand will release data on corporate confidence rates.

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Mohamed Abdel Khaleq

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