Forex, Market Reports

Forex MarketWatch Weekly Outlook for January 13th

cropped-jellyhawk-logo1.jpg

Graphic for MW Outlooks

EDITORS-IN-CHIEF:

Jay and Julie Hawk

FIND OUT MORE:

www.thefxperts.com

ECONOMIC SUMMARY

This week’s economic calendar is moderately busy and begins with Monday’s release of the New Zealand NZIER Business Confidence index. On Tuesday, highlights include the UK’s Parliament’s Brexit Vote, a speech by ECB President Draghi, U.S. PPI, Core PPI and a speech by FOMC Member George.

Wednesday’s releases begin with the Australian Westpac Consumer Sentiment index, UK CPI, RPI and PPI Input, as well as a speech by BOE Governor Carney. On Thursday, the G20 Meetings will be hosted for the first time by Japan in Osaka, along with a speech by BOJ Governor Kuroda.

The week concludes on Friday with the second day of the G20 Meetings, in addition to UK Retail Sales, Canadian CPI and a speech by FOMC member Williams.

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 Event  Actual Forecast Previous
MonJan 14 All Day JPY Bank Holiday
12:09am AUD MI Inflation Gauge m/m 0.4% 0.0%
 Tentative CNY Trade Balance 345B 306B
Tentative CNY USD-Denominated Trade Balance 51.6B 44.7B
7:00am EUR German WPI m/m 0.3% 0.2%
10:00am EUR Industrial Production m/m 0.3% 0.2%
9:00pm NZD NZIER Business Confidence -30
9:45pm NZD FPI m/m -0.6%
11:50pm JPY M2 Money Stock y/y 2.4% 2.3%
TueJan 15 5:58am JPY Prelim Machine Tool Orders y/y -17.0%
15th-18th CNY Foreign Direct Investment ytd/y -1.3%
7:45am EUR French Final CPI m/m 0.0% 0.0%
EUR French Gov Budget Balance -87.0B
15th-16th CNY M2 Money Supply y/y 8.1% 8.0%
15th-16th CNY New Loans 825B 1250B
10:00am EUR Trade Balance 13.2B 12.5B
1:30pm USD PPI m/m -0.1% 0.1%
USD Core PPI m/m 0.2% 0.3%
USD Empire State Manufacturing Index 11.6 10.9
Tentative NZD GDT Price Index 2.8%
3:00pm EUR ECB President Draghi Speaks
Tentative GBP Parliament Brexit Vote Reject
3:00pm USD IBD/TIPP Economic Optimism 53.1 52.6
6:00pm USD FOMC Member George Speaks
11:30pm AUD Westpac Consumer Sentiment 0.1%
11:50pm JPY Core Machinery Orders m/m 3.1% 7.6%
JPY PPI y/y 1.8% 2.3%
WedJan 16 4:30am JPY Tertiary Industry Activity m/m -0.5% 1.9%
7:00am EUR German Final CPI m/m 0.1% 0.1%
9:15am GBP BOE Gov Carney Speaks
9:30am GBP CPI y/y 2.1% 2.3%
GBP PPI Input m/m -1.7% -2.3%
GBP RPI y/y 2.9% 3.2%
GBP Core CPI y/y 1.8% 1.8%
GBP HPI y/y 3.0% 2.7%
GBP High Street Lending 39.0K 39.4K
GBP PPI Output m/m 0.1% 0.2%
Tentative EUR German 30-y Bond Auction 1.04|1.2
1:30pm USD Import Prices m/m -1.3% -1.6%
3:00pm USD NAHB Housing Market Index 57 56
3:30pm USD Crude Oil Inventories -1.7M
7:00pm USD Beige Book
9:00pm USD TIC Long-Term Purchases 31.3B
ThuJan 17 12:00am AUD MI Inflation Expectations 4.0%
12:01am GBP RICS House Price Balance -13% -11%
12:30am AUD Home Loans m/m -1.4% 2.2%
Day 1 All G20 Meetings
3:20am JPY BOJ Gov Kuroda Speaks
9:00am EUR Italian Trade Balance 2.89B 3.78B
9:30am GBP BOE Credit Conditions Survey
10:00am EUR Final CPI y/y 1.9% 1.9%
EUR Final Core CPI y/y 1.0% 1.0%
Tentative EUR Spanish 10-y Bond Auction
1:30pm CAD ADP Non-Farm Employment Change
USD Philly Fed Manufacturing Index 10.1 9.4
USD Unemployment Claims 218K 216K
3:30pm USD Natural Gas Storage -91B
3:45pm USD FOMC Member Quarles Speaks
9:30pm NZD Business NZ Manufacturing Index 53.5
11:30pm JPY National Core CPI y/y 0.8% 0.9%
FriJan 18 Tentative AUD HIA New Home Sales m/m 3.6%
Day 2 All G20 Meetings
4:30am JPY Revised Industrial Production m/m -1.1% -1.1%
8:15am CHF PPI m/m -0.2% -0.3%
9:00am EUR Current Account 24.1B 23.0B
9:30am GBP Retail Sales m/m -0.8% 1.4%
1:30pm CAD CPI m/m -0.3% -0.4%
CAD Common CPI y/y 1.8% 1.9%
CAD Median CPI y/y 1.9% 1.9%
CAD Trimmed CPI y/y 1.8% 1.9%
CAD Core CPI m/m -0.2%
CAD Foreign Securities Purchases 3.98B
2:05pm USD FOMC Member Williams Speaks
2:15pm USD Capacity Utilization Rate 78.6% 78.5%
USD Industrial Production m/m 0.3% 0.6%
3:00pm USD Prelim UoM Consumer Sentiment 96.1 98.3
USD Prelim UoM Inflation Expectations 2.7%

 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: 1.1485/1.1500 1.1549/1.1659 1.1721/1.1852
Spot: 1.1475 Support: 1.1301/1.1432 1.1267/98 1.1216
 
USD/JPY Lower Resistance: 108.28/109.09 109.20/37 109.78/112.56
Spot: 108.22 Support: 108.11 107.32/77 105.35/55
   
GBP/USD Higher Resistance: 1.2866/1.2985 1.3070/80 1.3175/1.3217
Spot: 1.2854 Support: 1.2809/49 1.2726/38 1.2659/1.2696
 
AUD/USD Mildly Lower Resistance: 0.7235/65 0.7302/93 0.7453/84
Spot: 0.7206 Support: 0.7145/0.7202 0.7077 0.7016/26
   
USD/CAD Lower Resistance: 1.3318/1.3359 1.3401/55 1.3567/1.3600
Spot: 1.3263 Support: 1.3226/63 1.3128/84 1.3048/56
   
NZD/USD Higher Resistance: 0.6843 0.6880/0.6910 0.6969/0.7060
Spot: 0.6826 Support: 0.6746/0.6824 0.6676/0.6702 0.6424/0.6630

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