# Forex Major Currencies Outlook (Aug 16, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-16-2016/ Language: en Updated: 2016-08-16 Description: Explore Forex Major Currencies Outlook (Aug 16, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar was mostly weaker in recent trading, only advancing against the British pound and Japanese yen. Data from the US economy was weaker than expected as the Empire State manufacturing index showed a surprise drop to industry contraction. US CPI, along with building permits and housing starts, are up for release today. Weaker inflation readings are eyed, following the disappointing PPI readings last Friday. Also lined up are the industrial production and capacity utilization data. **EUR** The euro took advantage of dollar weakness but was no match to comdoll strength. French and Italian banks were closed for the holiday so liquidity was lower for euro pairs yesterday. The German ZEW economic sentiment index is due today and a rise from -6.8 to +2.1 is expected, which would reflect a return to optimism. Meanwhile, the region’s ZEW index is slated to improve from -14.7 to -6.3. **GBP** The pound was still the weakest performer for the day as traders started pricing in expectations for the top-tier UK reports this week. The UK CPI is up for release today and no change in the 0.5% headline figure is eyed. The core reading is expected to dip from 1.4% to 1.3% with weaker than expected results likely to drive the UK currency lower. **CHF** The franc raked in more gains against its forex counterparts as Swiss PPI beat expectations. The report showed a 0.1% dip in producer prices versus the projected 0.2% decline. There are no reports due from the Swiss economy today so risk sentiment might have a bigger impact. **JPY** The yen held its ground despite seeing downbeat GDP data from Japan, as the lower-yielding currency was also supported by risk aversion in the Asian session. The economy posted a flat GDP reading for Q2 instead of the projected 0.2% expansion. There are no reports due from the Japanese economy today. **Commodity Currencies (AUD, NZD, CAD)** The comdolls were able to rally due to gains in gold and crude oil, but the event risks could turn things around. The RBA minutes are due today and indications of further rate cuts could mean losses for the Australian currency while New Zealand has its GDT auction, jobs data, and PPI readings lined up. Another strong gain in dairy prices, coupled with stronger than expected quarterly employment and producer prices gains, could lift the Kiwi while downbeat readings could spur rate cut expectations. Canada’s manufacturing sales data is also due but the currency could take its cue from crude oil. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-16-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-16-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-16-2016/", "headline": "Forex Major Currencies Outlook (Aug 16, 2016)", "inLanguage": "en", "datePublished": "2016-08-16T07:14:48+00:00", "dateModified": "2016-08-16T07:14:48+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Aug 16, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-16-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "Forex Major Currencies Outlook (Aug 16, 2016)", "item": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-16-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```