Week in FX Americas – US Spending Helps Economy Grow at 2 percent

The United States economy grow at 2 percent thanks in part to consumer spending. Corporate America did not have a good quarter as the earning season was filled with technical blunders and dissapointing results. That could lead to a fourth quarter where companies cut back on spending after a dissapointing quarter.

Visiting Canada Christine Lagarde, the Head of the IMF, praised the country’s efforts on economic consensus and co-ordination. The Bank of Canada governor on Wednesday was seen as less optimistic on the overall economy as a rate increase seems to be pushed to a later date. The Bank kept the rate at 1 percent and added interest should rise “over time”.

* EUR Consumer Price Index
* JPY BoJ Interest Rate Decision
* JPY BoJ Monetary Policy Statement and press conference
* EUR ECB President Draghi’s Speech
* CAD Gross Domestic Product
* USD Nonfarm Payrolls
* USD Unemployment Rate

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza