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.
What to Expect from the Forex Market Next Week 16 – 20 September by Razvan Mihai
