Last week, the U.S. dollar weakened significantly against its major counterparts. The USD/JPY continued a downward trend reaching a monthly low of 81.85. British retail sales reported a higher than expected outcome as the British pound reached a year high of 1.6567.The Euro landed at 1.4647 but the debt crisis continues to keeps traders at a cautious distance. The USD/CAD reach a yearly low at 0.9453 as the exchange rate through North American trade drops in anticipation of a rise in Canadian retail sales.
Here are the tradable news releases for the week:
1. Monday April 25, 2011- 10:00 am EST – USD New Home Sales
2. Tuesday April 26, 2011- 9:30 pm EST- AUD CPI q/q
3. Wednesday April 27, 2011- 4:30 am EST- GBP Prelim GDP q/q
4. Wednesday April 27, 2011- 12:30 pm EST- USD FOMC Federal Funds Rate Decision
5. Wednesday April 27, 2011- 5:00 pm EST- NZD RBNZ Interest Rate
6. Thursday April 28, 2011- 8:30 am EST- USD Advanced GDP q/q
7. Friday April 29, 2011- 8:30 am EST- CAD GDP m/m
USA, Canada and England will report the month’s GDP while Australia hopes to rebound from the trending drop in CPI.
This Friday at 12:30 pm, Fed Chairman Ben Bernanke will speak at a community affairs research conference in Arlington about the country’s financial stability. As head of the central bank, he will likely give clues as to the future of interest rate levels and monetary policy.
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