Forex, Market Reports

Forex MarketWatch Weekly Outlook for August 26th

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Graphic for MW Outlooks

EDITORS-IN-CHIEF:

Jay and Julie Hawk

FIND OUT MORE:

www.thefxperts.com

ECONOMIC SUMMARY

This week’s economic calendar begins with the release of German Ifo Business Climate on Monday, while Tuesday will see the release of U.S. CB Consumer Confidence.

On Wednesday, economic numbers include the Canadian Current Account, U.S. Preliminary Quarterly GDP and U.S. Crude Oil Inventories. Thursday then features the New Zealand ANZ Business Confidence survey, Australian Private Capital Expenditure and Canadian GDP.

The week’s highlights conclude on Friday with German Retail Sales, the Eurozone’s CPI Flash Estimate and Unemployment Rate, and U.S. Chicago PMI.

ECONOMIC OUTLOOK

The following table contains significant upcoming data and events for each of the major economies, as well as the market’s consensus expectation and last result for each data release.

 

Date GMT Time Currency   Economic Event     Expected Last
All Day GBP Bank Holiday
 9:00am EUR German Ifo Business Climate 101.9 101.7
TueAug 28 6:00am JPY BOJ Core CPI y/y 0.3% 0.4%
9:00am EUR M3 Money Supply y/y 4.3% 4.4%
EUR Private Loans y/y 3.0% 2.9%
1:30pm USD Goods Trade Balance -68.6B -67.9B
USD Prelim Wholesale Inventories m/m 0.1% 0.1%
2:00pm USD S&P/CS Composite-20 HPI y/y 6.4% 6.5%
3:00pm USD CB Consumer Confidence 126.6 127.4
USD Richmond Manufacturing Index 18 20
WedAug 29 12:01am GBP BRC Shop Price Index y/y -0.3%
Tentative AUD HIA New Home Sales m/m 2.2%
6:00am JPY Consumer Confidence 43.4 43.5
7:00am EUR German GfK Consumer Climate 10.6 10.6
7:45am EUR French Consumer Spending m/m 0.3% 0.1%
EUR French Prelim GDP q/q 0.2% 0.2%
9:00am CHF Credit Suisse Economic Expectations -4.0
1:30pm CAD Current Account -19.5B
USD Prelim GDP q/q 4.0% 4.1%
USD Prelim GDP Price Index q/q 3.0% 3.0%
3:00pm USD Pending Home Sales m/m 0.6% 0.9%
3:30pm USD Crude Oil Inventories -5.8M
11:45pm NZD Building Consents m/m -7.6%
ThuAug 30 12:50am JPY Retail Sales y/y 1.3% 1.7%
2:00am NZD ANZ Business Confidence -44.9
2:30am AUD Private Capital Expenditure q/q 0.6% 0.4%
AUD Building Approvals m/m -1.9% 6.4%
7:00am EUR German Import Prices m/m 0.0% 0.5%
All Day EUR German Prelim CPI m/m 0.2% 0.3%
8:00am CHF KOF Economic Barometer 101.2 101.1
EUR Spanish Flash CPI y/y 2.2% 2.2%
8:55am EUR German Unemployment Change -8K -6K
9:30am GBP M4 Money Supply m/m 0.2% -0.3%
GBP Mortgage Approvals 65K 66K
GBP Net Lending to Individuals m/m 5.5B 5.4B
Tentative EUR Italian 10-y Bond Auction 2.87|1.4
1:30pm CAD GDP m/m 0.5%
USD Core PCE Price Index m/m 0.2% 0.1%
USD Personal Spending m/m 0.4% 0.4%
USD Personal Income m/m 0.4% 0.4%
USD Unemployment Claims 211K 210K
3:30pm USD Natural Gas Storage 48B
6:30pm EUR German Buba President Weidmann Speaks
FriAug 31 12:01am GBP GfK Consumer Confidence -11 -10
12:30am JPY Tokyo Core CPI y/y 0.8% 0.8%
JPY Unemployment Rate 2.4% 2.4%
12:50am JPY Prelim Industrial Production m/m 0.3% -1.8%
2:00am CNY Manufacturing PMI 51.0 51.2
CNY Non-Manufacturing PMI 53.8 54.0
2:30am AUD Private Sector Credit m/m 0.3% 0.3%
6:00am JPY Housing Starts y/y -4.3% -7.1%
7:00am EUR German Retail Sales m/m -0.2% 1.2%
GBP Nationwide HPI m/m 0.1% 0.6%
7:45am EUR French Prelim CPI m/m 0.5% -0.1%
9:00am EUR Italian Monthly Unemployment Rate 10.8% 10.9%
10:00am EUR CPI Flash Estimate y/y 2.1% 2.1%
EUR Core CPI Flash Estimate y/y 1.1% 1.1%
EUR Italian Prelim CPI m/m 0.2% 0.3%
EUR Unemployment Rate 8.2% 8.3%
1:30pm CAD RMPI m/m 0.5%
CAD IPPI m/m 0.5%
2:45pm USD Chicago PMI 63.2 65.5
3:00pm USD Revised UoM Consumer Sentiment 95.8 95.3
USD Revised UoM Inflation Expectations 2.9%

TECHNICAL OUTLOOK

The table below contains a directional forecast for the coming week, the current spot rate, and key support and resistance levels for each of the major currency pairs.

EUR/USD Higher Resistance: 1.1628/45 1.1676/1.1764 1.1791/1.1852
Spot: 1.1626 Support: 1.1508/1.1613 1.1444/45 1.1285/1.1313
USD/JPY Mildly lower Resistance: 111.43/49 112.15/20 112.80/113.18
Spot: 111.27 Support: 109.20/111.13 108.65/95 108.11
   
GBP/USD Higher Resistance: 1.2936/58 1.3027/83 1.3173/1.3213
Spot: 1.2849 Support: 1.2775/1.2827 1.2723 1.2589/1.2662
 
AUD/USD Higher Resistance: 0.7345/82 0.7412/84 0.7502/66
Spot: 0.7332 Support: 0.7311 0.7203/38 0.7145/60
   
USD/CAD Lower Resistance: 1.3051/1.3130 1.3174/1.3252 1.3290
Spot: 1.3017 Support: 1.2922/1.2987 1.2858 1.2819
   
NZD/USD Higher Resistance: 0.6714/0.6726 0.6790/0.6840 0.7060
Spot: 0.6695 Support: 0.6676 0.6544 0.6498

Disclaimer:

TheFXperts’ Forex MarketWatch Reports are provided strictly for educational purposes and represent the opinions of the authors. No recommendation or endorsement for specific financial trading or investment purposes is offered. Subscribers are advised to seek financial, business and legal guidance from licensed professionals.

Visit TheFXperts’ official website at www.TheFXperts.com.  You can also view and purchase Jay and Julie Hawk’s six financial books at Jay’s Amazon author page here: amazon.com/author/Jayhawk

 

 

 

 

 

 

 

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