Forex Weekly Outlook Aug 31-Sep 4

Rate decision in Australia and the Eurozone, GDP data from Canada and Australia, trade and Manufacturing data from the US and important Canadian and US employment data including the all-important Non-Farm Payrolls. These are the major market movers for this week. Join us as we explore these top events on our weekly outlook.

Last week, turmoil in global financial markets increased speculations that the Federal Reserve may delay the widely anticipated September rate hike. Concerns over global growth, the plunge in commodity prices, China’s frenzied stock markets and its recent currency devaluation suggested a possible change in the Fed’s timetable. Nevertheless, US economic data remained positive with a sharp upward revision in the growth forecasts for Q2, reaching 3.7% compared to 2.3% expansion estimated earlier. Furthermore, Durable Goods Orders registered solid gains rising 2% while core orders increased 0.6%, well above forecasts, indicating rising domestic demand and further expansion in the third quarter.

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