Forex, Market Reports

Forex MarketWatch Weekly Outlook for July 22nd, 2019


Graphic for MW Outlooks


Jay and Julie Hawk



This week’s rather light economic calendar begins with two speeches on Monday by BOJ Governor Kuroda and RBA Assistant Governor Kent. Tuesday’s only highlight is the New Zealand Trade Balance.

On Wednesday, key releases include French, German and EU Flash Manufacturing and Services PMIs, and U.S. Flash Manufacturing PMI. RBA Governor Lowe will also speak.

Thursday will feature the ECB’s Main Refinancing Rate Decision, Press Conference and Monetary Policy Statement, in addition to U.S. Core Durable Goods Orders.  Friday will conclude the week’s highlights with U.S. Advance GDP and the Advance GDP Price Index.


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 Consensus Previous
MonJul 22 11:00am EUR German Buba Monthly Report
1:30pm CAD Wholesale Sales m/m -1.8% 0.8% 1.6%
4:00pm JPY BOJ Gov Kuroda Speaks
 11:30pm AUD RBA Assist Gov Kent Speaks
TueJul 23 6:00am JPY BOJ Core CPI y/y 0.6% 0.7%
11:00am GBP CBI Industrial Order Expectations -15 -15
Tentative GBP 10-y Bond Auction 0.89|2.1
2:00pm USD HPI m/m 0.3% 0.4%
3:00pm USD Existing Home Sales 5.35M 5.34M
USD Richmond Manufacturing Index 5 3
3:30pm AUD CB Leading Index m/m 0.1%
11:45pm NZD Trade Balance 100M 264M
WedJul 24 12:00am AUD Flash Manufacturing PMI 52.0
AUD Flash Services PMI 52.6
1:30am JPY Flash Manufacturing PMI 49.7 49.3
8:15am EUR French Flash Services PMI 52.7 52.9
EUR French Flash Manufacturing PMI 51.6 51.9
8:30am EUR German Flash Manufacturing PMI 45.1 45.0
EUR German Flash Services PMI 55.3 55.8
9:00am EUR Flash Manufacturing PMI 47.6 47.6
EUR Flash Services PMI 53.3 53.6
EUR M3 Money Supply y/y 4.6% 4.8%
EUR Private Loans y/y 3.2% 3.3%
9:30am GBP High Street Lending 42.9K 42.4K
2:00pm CNY CB Leading Index m/m 0.8%
EUR Belgian NBB Business Climate -5.0 -4.9
2:45pm USD Flash Manufacturing PMI 50.9 50.6
USD Flash Services PMI 51.6 51.5
3:00pm USD New Home Sales 659K 626K
3:30pm USD Crude Oil Inventories -3.1M
ThuJul 25 12:50am JPY SPPI y/y 0.8% 0.8%
4:05am AUD RBA Gov Lowe Speaks
8:00am EUR Spanish Unemployment Rate 13.7% 14.7%
9:00am EUR German Ifo Business Climate 97.1 97.4
11:00am GBP CBI Realized Sales 0 -42
12:45pm EUR Main Refinancing Rate 0.00% 0.00%
EUR Monetary Policy Statement
1:30pm EUR ECB Press Conference
USD Core Durable Goods Orders m/m 0.2% 0.4%
USD Durable Goods Orders m/m 0.8% -1.3%
USD Goods Trade Balance -72.4B -74.5B
USD Prelim Wholesale Inventories m/m 0.5% 0.4%
USD Unemployment Claims 220K 216K
3:30pm USD Natural Gas Storage 62B
FriJul 26 12:30am JPY Tokyo Core CPI y/y 0.8% 0.9%
7:00am EUR German Import Prices m/m -0.8% -0.1%
1:30pm USD Advance GDP q/q 1.8% 3.1%
USD Advance GDP Price Index q/q 4.0% 0.9%


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 Lower Resistance: 1.1210/26 1.1273/1.1570 1.1791/1.1852
Spot: 1.1210 Support: 1.1136/1.1205 1.1107/12 1.0906/12
USD/JPY Mildly Lower Resistance: 108.11/109.15 110.37/112.56 113.38/114.21
Spot: 107.87 Support: 107.80/81 106.78/107.53 105.35/55
GBP/USD Higher Resistance: 1.2558/1.2712 1.2773/1.2987 1.3102/76
Spot: 1.2478 Support: 1.2440/1.2477 1.2382 1.21096
AUD/USD Higher Resistance: 0.7035/0.7168 0.7192/0.7246 0.7295/0.7393
Spot: 0.7035 Support: 0.6909/0.7003 0.6827/66 0.6697/0.6753
USD/CAD Lower Resistance: 1.3112/1.3203 1.3226/1.3403 1.3422/1.3598
Spot: 1.3110 Support: 1.3018/81 1.2970 1.2916/27
NZD/USD Higher Resistance: 0.6774/0.6980 0.7060 0.7292/0.7438
Spot: 0.6764 Support: 0.6656/0.6739 0.6544/0.6586 0.6424/0.6501


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  You can also view and purchase Jay and Julie Hawk’s six financial books at Jay’s Amazon author page here:

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