What To Expect From The Forex Market Next Week 16 – 20 September

Another week has past and some very interesting readings were published. Wednesday Great Britain has published some very good data from the labor market. Its Claimant Count Change has fallen 32.6K and the Unemployment Rate dropped unexpectedly at 7.7%. The next day Australia reported a rise in its Unemployment Rate of 0.1% and RBNZ’s governor said that it expected a rise in the inflation rate in 2014 and they might have to raise the interest rate. Thursday it was also published the Unemployment Claims for USA at a value of 292K, but it might have been a problem with their computerized systems and this number could be revised next week.

The economic calendar for next week looks like this:

Date Currency Forecast Previous
MonSep 16 NZD Westpac Consumer Sentiment 116.6
GBP Rightmove HPI m/m -1.80%
JPY Bank Holiday
EUR Italian Trade Balance 4.13B 3.62B
EUR CPI y/y 1.30% 1.30%
EUR Core CPI y/y 1.10% 1.10%
CAD Foreign Securities Purchases -2.23B -15.41B
USD Empire State Manufacturing Index 9.2 8.2
USD Capacity Utilization Rate 77.80% 77.60%
USD Industrial Production m/m 0.50% 0.00%
TueSep 17 GBP BOE Quarterly Bulletin
AUD Monetary Policy Meeting Minutes
AUD New Motor Vehicle Sales m/m -3.50%
CNY CB Leading Index m/m 1.40%
CNY Foreign Direct Investment ytd/y 7.10%
NZD REINZ HPI m/m -0.50%
EUR Current Account 18.3B 16.9B
GBP CPI y/y 2.70% 2.80%
GBP PPI Input m/m 0.30% 1.10%
GBP RPI y/y 3.20% 3.10%
GBP Core CPI y/y 2.10% 2.00%
GBP HPI y/y 3.40% 3.10%
GBP PPI Output m/m 0.20% 0.20%
EUR German ZEW Economic Sentiment 45.3 42
EUR ZEW Economic Sentiment 47.2 44
EUR Trade Balance 15.3B 14.9B
USD Treasury Sec Lew Speaks
CAD Manufacturing Sales m/m 0.60% -0.50%
USD Core CPI m/m 0.10% 0.20%
USD CPI m/m 0.20% 0.20%
USD TIC Long-Term Purchases -45.3B -66.9B
USD NAHB Housing Market Index 59 59
WedSep 18 NZD Current Account -1.87B -0.66B
AUD CB Leading Index m/m -0.20%
AUD MI Leading Index m/m 0.00%
AUD RBA Assist Gov Edey Speaks
GBP MPC Asset Purchase Facility Votes 0-0-9 0-0-9
GBP MPC Official Bank Rate Votes 0-0-9 0-0-9
CHF ZEW Economic Expectations 7.2
USD Building Permits 0.95M 0.95M
USD Housing Starts 0.93M 0.90M
USD Crude Oil Inventories -0.2M
CAD BOC Gov Poloz Speaks
USD FOMC Economic Projections
USD FOMC Statement
USD Federal Funds Rate <0.25% <0.25%
USD FOMC Press Conference
ThuSep 19 NZD GDP q/q 0.20% 0.30%
JPY Trade Balance -0.81T -0.94T
CNY Bank Holiday
AUD RBA Bulletin
JPY BOJ Gov Kuroda Speaks
JPY All Industries Activity m/m 0.30% -0.60%
CHF SECO Economic Forecasts
CHF Trade Balance 2.74B 2.49B
CHF Libor Rate <0.25% <0.25%
CHF SNB Monetary Policy Assessment
GBP Retail Sales m/m 0.50% 1.10%
GBP CBI Industrial Order Expectations 2 0
CAD Wholesale Sales m/m 1.60% -2.80%
USD Unemployment Claims 323K 292K
USD Current Account -96B -106B
USD Existing Home Sales 5.27M 5.39M
USD Philly Fed Manufacturing Index 10.5 9.3
USD CB Leading Index m/m 0.60% 0.60%
USD Natural Gas Storage 65B
FriSep 20 NZD Visitor Arrivals m/m 1.30%
CNY Bank Holiday
NZD Credit Card Spending y/y 4.70%
JPY BOJ Gov Kuroda Speaks
GBP Public Sector Net Borrowing 11.9B -1.6B
CAD Core CPI m/m 0.10% 0.00%
CAD CPI m/m 0.10% 0.10%
EUR Consumer Confidence -14 -16
USD FOMC Member George Speaks
USD FOMC Member Tarullo Speaks
USD FOMC Member Bullard Speaks

As you can see in the table, Tuesday there will be posted the CPI for Great Britain, the German ZEW Economic Sentiment and the Core CPI for the United States. Wednesday the event of the day and maybe the most important of the week is the FOMC Press Conference. The markets are waiting for details regarding the Quantitative Easing program. Thursday Great Britain will publish its Retail Sales and from USA there will be the Unemployment Claims, Existing Home Sales and Philly Fed Manufacturing index. On Friday Kuroda will have a speech and Canada will report its CPI.


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