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What to Expect from the Forex Market Next Week 8 – 13 September

The week that just has passed, brought some high volatility on the Forex market, especially in the second part. The ISM Manufacturing and Non-Manufacturing PMIs from the United States surprised with above expectations readings. Draghi has left the door open for a new cut of the interest rate and the Non-Farm Payrolls have disappointed with a lower number than expected.

Date Currency Forecast Previous
MonSep 9 NZD Manufacturing Sales q/q 0.20%
JPY Current Account 0.32T 0.65T
JPY Final GDP q/q 1.00% 0.60%
JPY Bank Lending y/y 2.00%
JPY Final GDP Price Index y/y -0.30% -0.30%
AUD ANZ Job Advertisements m/m -1.10%
AUD Home Loans m/m 2.20% 2.70%
CNY CPI y/y 2.60% 2.70%
CNY PPI y/y -1.70% -2.30%
CNY Trade Balance 20.3B 17.8B
CNY New Loans 731B 700B
CNY M2 Money Supply y/y 14.60% 14.50%
JPY Consumer Confidence 44.3 43.6
CHF Unemployment Rate 3.20% 3.20%
JPY Economy Watchers Sentiment 53.8 52.3
CHF Retail Sales y/y 3.20% 2.30%
EUR Sentix Investor Confidence -4 -4.9
CAD Building Permits m/m 4.40% -10.30%
USD Consumer Credit m/m 12.7B 13.8B
TueSep 10 GBP RICS House Price Balance 38% 36%
JPY Monetary Policy Meeting Minutes
JPY Tertiary Industry Activity m/m -0.40% -0.30%
JPY M2 Money Stock y/y 3.80% 3.70%
AUD MI Inflation Expectations 2.30%
AUD NAB Business Confidence -3
JPY 30-y Bond Auction 1.79|4.1
CNY Fixed Asset Investment ytd/y 20.20% 20.10%
CNY Industrial Production y/y 9.90% 9.70%
CNY Retail Sales y/y 13.30% 13.20%
JPY Prelim Machine Tool Orders y/y -12.10%
EUR French Industrial Production m/m 0.70% -1.40%
GBP BOE Credit Conditions Survey
USD NFIB Small Business Index 94.8 94.1
CAD Housing Starts 190K 193K
USD JOLTS Job Openings 3.96M 3.94M
WedSep 11 JPY BSI Manufacturing Index 7.2 5
JPY CGPI y/y 2.30% 2.20%
AUD Westpac Consumer Sentiment 3.50%
EUR French Final Non-Farm Payrolls q/q -0.20% -0.20%
EUR German Final CPI m/m 0.00% 0.00%
GBP Claimant Count Change -21.2K -29.2K
GBP Average Earnings Index 3m/y 1.30% 2.10%
GBP Unemployment Rate 7.80% 7.80%
EUR German 10-y Bond Auction 1.80|1.3
GBP CB Leading Index m/m -0.20%
USD Wholesale Inventories m/m 0.30% -0.20%
USD Crude Oil Inventories -1.8M
GBP MPC Member Miles Speaks
USD 10-y Bond Auction 2.62|2.5
ThuSep 12 NZD Official Cash Rate 2.50% 2.50%
NZD RBNZ Press Conference
NZD RBNZ Rate Statement
NZD RBNZ Monetary Policy Statement
JPY Core Machinery Orders m/m 2.50% -2.70%
AUD Employment Change 10.2K -10.2K
AUD Unemployment Rate 5.80% 5.70%
NZD REINZ HPI m/m -0.50%
EUR German WPI m/m 0.20% -0.30%
EUR French CPI m/m 0.50% -0.30%
EUR ECB Monthly Bulletin
EUR Italian Industrial Production m/m 0.30% 0.30%
EUR Industrial Production m/m -0.10% 0.70%
GBP Inflation Report Hearings
EUR Italian 10-y Bond Auction
GBP 10-y Bond Auction 2.58|1.8
CAD NHPI m/m 0.20% 0.20%
USD Unemployment Claims 332K 323K
USD Import Prices m/m 0.60% 0.20%
USD Natural Gas Storage 58B
USD 30-y Bond Auction 3.65|2.1
USD Federal Budget Balance -155.3B -97.6B
FriSep 13 NZD Business NZ Manufacturing Index 59.5
NZD FPI m/m 0.50%
JPY Revised Industrial Production m/m 3.20% 3.20%
CHF PPI m/m 0.20% 0.00%
EUR Employment Change q/q -0.20% -0.50%
EUR Trade Balance 15.3B 14.9B
EUR ECOFIN Meetings
EUR Eurogroup Meetings
CAD Capacity Utilization Rate 81.30% 81.10%
USD Core Retail Sales m/m 0.30% 0.50%
USD PPI m/m 0.20% 0.00%
USD Retail Sales m/m 0.50% 0.20%
USD Core PPI m/m 0.20% 0.10%
USD Prelim UoM Consumer Sentiment 82.6 82.1
USD Prelim UoM Inflation Expectations 3.00%
USD Business Inventories m/m 0.40% 0.00%

As you can see, on Monday the most important events will be the Chinese CPI and Trade Balance, as well as the Canadian Building Permits. On Tuesday China will report its Industrial Production which could trigger volatility on the currency pairs which includes the Australian Dollar. Wednesday Great Britain will publish the Claimant Count Change and the Unemployment Rate. On 12th of September New Zealand will release its Official Cash Rate and the RBNZ will have a press conference, Australia will release the Unemployment Rate and the Employment Change and the USA will release the Unemployment Claims for the week. The last day of the week will bring on the table the Core Retail Sales, PPI and the Prelim UoM Consumer Sentiment for the United States.

What to Expect from the Forex Market Next Week 8 - 13 September by
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