EUR/USD And USD/CAD Looking Mildly Higher
Jay Hawk | Oct 13, 2014 07:42AM ET
Key Fundamental Forex Events and Forecasts for the Coming Week
The list includes the current market consensus forecast for each event and indicates what sort of deviation might affect the forex market valuation of the indicated currency positively.
Monday, October 13th
- All Day JPY Bank Holiday
- 3:00am CNY Trade Balance (31.0B expected)
- All Day CAD Bank Holiday
- All Day USD Bank Holiday
Tuesday, October 14th
- 1:30am AUD NAB Business Confidence (last 8 expected, > good for currency)
- 9:30am GBP CPI (1.4% expected, > good for currency)
- 10:00am EUR German ZEW Economic Sentiment survey (0.2 expected, > good for currency)
Wednesday, October 15th
- 2:30am CNY CPI (1.7% expected)
- 8:00am EUR ECB President Draghi speaks (hawkish = good for currency)
- 9:30am GBP Average Earnings Index (0.7% expected, > good for currency)
- 9:30am GBP Claimant Count Change (-34.2K expected,
- 1:30pm USD Core Retail Sales (0.2% expected, > good for currency)
- 1:30pm USD PPI (0.1% expected, > good for currency)
- 1:30pm USD Retail Sales (-0.1% expected, > good for currency)
- Tentative NZD GDT Price Index (last -7.3% expected, > good for currency)
- 7:00pm EUR ECB President Draghi speaks (hawkish = good for currency)
Thursday, October 16th
- 1:30pm CAD Manufacturing Sales (-1.6% expected, > good for currency)
- 1:30pm USD Weekly Initial Jobless Claims (286K expected,
- 3:00pm USD Philly Fed Manufacturing Index (19.9 expected, > good for currency)
Friday, October 17th
- 1:30pm CAD Core CPI (0.1% expected, > good for currency)
- 1:30pm USD Building Permits (1.04M expected, > good for currency)
- 1:30pm USD Fed Chair Yellen speaks (hawkish = good for currency)
- 2:55pm USD Preliminary University of Michigan Consumer Sentiment survey (84.3 expected, > good for currency)
Technical Forecast and Levels to Watch for the Majors This Week
NZD/USD : Mildly Lower
Resistance:
Initial: 0.7856/57, 0.7872, 0.7888, 0.7903/06, 0.7927/32, 0.7967, 0.7989/0.8013, 0.8030, 0.8040, 0.8049/60, 0.8075/82, 0.8100/09, 0.8114/37, 0.8147/53, 0.8160/76, 0.8186, 0.8195/97, 0.8204/14, 0.8221/41, 0.8250/55, 0.8263, 0.8268/71, 0.8280, 0.8285/87, 0.8291/95, 0.8302/16, 0.8322/66, 0.8376, 0.8389, 0.8406, 0.8413, 0.8421/61, 0.8472/79, 0.8487/89 and 0.8499.
Above: 0.8504/18, 0.8523/37, 0.8542/53, 0.8560/61, 0.8571/78, 0.8584/90, 0.8602/05, 0.8633/41, 0.8647/53, 0.8660/67, 0.8671/74, 0.8693/0.8700, 0.8712/18, 0.8734, 0.8744, 0.8764/77, 0.8789, 0.8792, 0.8821, 0.8834 and 0.8840.
Support:
Initial: 0.7838/46, 0.7829, 0.7819, 0.7804, 0.7795, 0.7783, 0.7760, 0.7751/58, 0.7731/35, 0.7705/23, 0.7697 and 0.7681/86.
Below: 0.7605/76 and 0.7500/85.
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