Forex, Market Reports

Forex MarketWatch Weekly Outlook for October 21st

cropped-jellyhawk-logo1.jpg

Graphic for MW Outlooks

EDITORS-IN-CHIEF:

Jay and Julie Hawk

FIND OUT MORE:

www.thefxperts.com

ECONOMIC SUMMARY

The economic calendar this week is moderately busy, and its highlights begin with two speeches by RBA Assistant Governor Guy Debelle on Monday. Tuesday will feature another speech by the RBA’s Debelle, as well as speeches by BOE Governor Mark Carney and FOMC Member Raphael Bostic.

On Wednesday, key releases begin with French, German and Eurozone Flash Manufacturing and Services PMIs, followed by the BOC’s Overnight Rate, Rate Statement, Press Conference and Monetary Policy Report. Thursday will see the ECB’s Main Refinancing Rate come out, along with its associated Press Conference, as well as U.S. Durable Goods Orders and Core Durable Goods Orders.

The week concludes with Friday’s release of U.S. Advance GDP and the Advance GDP Price Index, as well as a speech by ECB President Mario Draghi.

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 Ccy   Economic Event     Expected Last  
SunOct 21 All Day NZD Bank Holiday
10:00pm AUD RBA Assist Gov Debelle Speaks
MonOct 22  12:30am JPY All Industries Activity m/m 0.4% 0.0%
6:00am EUR German Buba Monthly Report
8:30am CAD Wholesale Sales m/m 0.1% 1.5%
10:30am AUD CB Leading Index m/m 0.1%
6:35pm AUD RBA Assist Gov Debelle Speaks
11:00pm AUD RBA Assist Gov Bullock Speaks
TueOct 23 12:30am AUD RBA Assist Gov Debelle Speaks
1:00am JPY BOJ Core CPI y/y 0.5%
2:00am EUR German PPI m/m 0.3% 0.3%
6:00am GBP CBI Industrial Order Expectations -1 -1
6:30am GBP MPC Member Haldane Speaks
10:00am EUR Consumer Confidence -3 -3
USD Richmond Manufacturing Index 25 29
11:20am GBP BOE Gov Carney Speaks
1:30pm USD FOMC Member Bostic Speaks
8:30pm JPY Flash Manufacturing PMI 52.6 52.5
WedOct 24 3:15am EUR French Flash Manufacturing PMI 52.4 52.5
EUR French Flash Services PMI 54.7 54.8
3:30am EUR German Flash Manufacturing PMI 53.5 53.7
EUR German Flash Services PMI 55.5 55.9
4:00am EUR Flash Manufacturing PMI 53.1 53.2
EUR Flash Services PMI 54.5 54.7
EUR M3 Money Supply y/y 3.5% 3.5%
EUR Private Loans y/y 3.2% 3.1%
4:30am GBP High Street Lending 39.0K 39.4K
9:00am EUR Belgian NBB Business Climate 0.5 1.2
USD HPI m/m 0.3% 0.2%
9:45am USD Flash Manufacturing PMI 55.5 55.6
USD Flash Services PMI 54.1 53.5
10:00am CAD BOC Monetary Policy Report
CAD BOC Rate Statement
CAD Overnight Rate 1.75% 1.50%
USD New Home Sales 630K 629K
10:30am USD Crude Oil Inventories 6.5M
11:15am CAD BOC Press Conference
1:00pm USD FOMC Member Bostic Speaks
1:10pm USD FOMC Member Mester Speaks
2:00pm USD Beige Book
5:45pm NZD Trade Balance -1365M -1484M
7:50pm JPY SPPI y/y 1.3%
ThuOct 25 2:00am EUR German GfK Consumer Climate 10.5 10.6
3:00am EUR Spanish Unemployment Rate 14.9% 15.3%
4:00am EUR German Ifo Business Climate 103.2 103.7
7:45am EUR Main Refinancing Rate 0.00% 0.00%
8:30am EUR ECB Press Conference
USD Core Durable Goods Orders m/m 0.3% 0.0%
USD Durable Goods Orders m/m -1.1% 4.4%
USD Goods Trade Balance -74.9B -75.5B
USD Prelim Wholesale Inventories m/m 1.0%
USD Unemployment Claims 208K 210K
9:00am CNY CB Leading Index m/m 0.7%
10:00am USD Pending Home Sales m/m -0.2% -1.8%
10:30am USD Natural Gas Storage 81B
12:15pm USD FOMC Member Clarida Speaks
7:30pm JPY Tokyo Core CPI y/y 1.0% 1.0%
9:00pm USD FOMC Member Mester Speaks
FriOct 26 8:30am USD Advance GDP q/q 3.3% 4.2%
USD Advance GDP Price Index q/q 2.3% 3.0%
10:00am EUR ECB President Draghi Speaks
USD Revised UoM Consumer Sentiment 99.2 99.0
USD Revised UoM Inflation Expectations 2.8%
SatOct 27 10:00pm CHF Daylight Saving Time Shift
EUR Daylight Saving Time Shift
GBP Daylight Saving Time Shift

TECHNICAL OUTLOOK

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

EUR/USD Lower Resistance: 1.1531/1.1764 1.1791/1.1852 1.1996
Spot: 1.1518 Support: 1.1508/31 1.1432/45 1.1301
USD/JPY Mildly Lower Resistance: 112.73/114.95 115.50 118.61/66
Spot: 112.58 Support: 112.04/56 111.13/76 108.65/110.90
   
GBP/USD Lower Resistance: 1.3083 1.3143/1.3315 1.3362
Spot: 1.3065 Support: 1.3011/56 1.2922/58 1.2775/1.2897
 
AUD/USD Lower Resistance: 0.7131/60 0.7203/38 0.7304/62
Spot: 0.7109 Support: 0.7041/98 0.6909 0.6827
   
USD/CAD Mildly Higher Resistance: 1.3103/1.3132 1.3174/1.3260 1.3290
Spot: 1.3100 Support: 1.3051/96 1.2858/1.2987 1.2729/1.2819
   
NZD/USD Lower Resistance: 0.6595/0.6620 0.6676/0.6727 0.6762
Spot: 0.6591 Support: 0.6498/0.6544 0.6424 0.6347

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

Jay Hawk Books Header for FB.png

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s