EDITORS-IN-CHIEF:
Jay and Julie Hawk
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ECONOMIC SUMMARY
Due to the Easter bank holiday in Europe, many market centers have been closed since Friday, which makes the economic calendar start with major releases on Wednesday this week. Wednesday’s highlights include Australian CPI and Trimmed Mean CPI, German Ifo Business Climate, UK Public Sector Net Borrowing, and the BOC’s Overnight Rate, Rate Statement, Press Conference and Monetary Policy Report.
Thursday’s releases include the tentative releases of the BOJ Outlook Report, Monetary Policy Statement and BOJ Press Conference. Additional releases include U.S. Core Durable Goods Orders and the New Zealand Trade Balance. The week concludes with Friday’s release of U.S. Advance GDP, the Advance GDP Price Index and a speech by SNB Chairman Thomas Jordan.
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 | Consensus | Previous | |||
| SunApr 21 | All Day | NZD | Bank Holiday | ||||||
| All Day | AUD | Bank Holiday | |||||||
| MonApr 22 | All Day | CHF | Bank Holiday | ||||||
| All Day | EUR | French Bank Holiday | |||||||
| All Day | EUR | German Bank Holiday | |||||||
| All Day | EUR | Italian Bank Holiday | |||||||
| All Day | GBP | Bank Holiday | |||||||
| 3:00pm | USD | Existing Home Sales | 5.21M | 5.31M | 5.48M | ||||
| TueApr 23 | 4:00am | NZD | Credit Card Spending y/y | 6.4% | |||||
| 6:00am | JPY | BOJ Core CPI y/y | 0.5% | 0.4% | |||||
| 1:30pm | CAD | Wholesale Sales m/m | 0.1% | 0.6% | |||||
| 2:00pm | USD | HPI m/m | 0.6% | 0.6% | |||||
| 3:00pm | EUR | Consumer Confidence | -7 | -7 | |||||
| USD | New Home Sales | 647K | 667K | ||||||
| USD | Richmond Manufacturing Index | 10 | 10 | ||||||
| 3:30pm | AUD | CB Leading Index m/m | 0.3% | ||||||
| WedApr 24 | 12:50am | JPY | SPPI y/y | 1.1% | 1.1% | ||||
| 2:30am | AUD | CPI q/q | 0.2% | 0.5% | |||||
| AUD | Trimmed Mean CPI q/q | 0.4% | 0.4% | ||||||
| 5:30am | JPY | All Industries Activity m/m | -0.2% | -0.2% | |||||
| 9:00am | CHF | Credit Suisse Economic Expectations | -26.9 | ||||||
| EUR | German Ifo Business Climate | 99.9 | 99.6 | ||||||
| EUR | ECB Economic Bulletin | ||||||||
| 9:30am | GBP | Public Sector Net Borrowing | -0.8B | -0.7B | |||||
| Tentative | EUR | German 10-y Bond Auction | -0.05|2.6 | ||||||
| 2:00pm | CNY | CB Leading Index m/m | 0.6% | ||||||
| EUR | Belgian NBB Business Climate | -0.7 | -0.7 | ||||||
| 3:00pm | CAD | BOC Monetary Policy Report | |||||||
| CAD | BOC Rate Statement | ||||||||
| CAD | Overnight Rate | 1.75% | 1.75% | ||||||
| 3:30pm | USD | Crude Oil Inventories | -1.4M | ||||||
| 4:15pm | CAD | BOC Press Conference | |||||||
| All Day | NZD | Bank Holiday | |||||||
| All Day | AUD | Bank Holiday | |||||||
| ThuApr 25 | Tentative | JPY | BOJ Outlook Report | ||||||
| Tentative | JPY | Monetary Policy Statement | |||||||
| Tentative | JPY | BOJ Policy Rate | -0.10% | -0.10% | |||||
| 25th-26th | GBP | Nationwide HPI m/m | 0.2% | ||||||
| All Day | EUR | Italian Bank Holiday | |||||||
| Tentative | JPY | BOJ Press Conference | |||||||
| 8:00am | EUR | Spanish Unemployment Rate | 14.5% | 14.5% | |||||
| 11:00am | GBP | CBI Industrial Order Expectations | 3 | 1 | |||||
| 1:30pm | USD | Core Durable Goods Orders m/m | 0.2% | -0.1% | |||||
| USD | Durable Goods Orders m/m | 0.7% | -1.6% | ||||||
| USD | Unemployment Claims | 199K | 192K | ||||||
| 3:30pm | USD | Natural Gas Storage | 92B | ||||||
| Tentative | USD | Treasury Currency Report | |||||||
| 11:45pm | NZD | Trade Balance | 131M | 12M | |||||
| FriApr 26 | 12:30am | JPY | Tokyo Core CPI y/y | 1.1% | 1.1% | ||||
| JPY | Unemployment Rate | 2.4% | 2.3% | ||||||
| 12:50am | JPY | Prelim Industrial Production m/m | 0.1% | 0.7% | |||||
| JPY | Retail Sales y/y | 0.8% | 0.6% | ||||||
| 2:30am | AUD | Import Prices q/q | 0.4% | 0.5% | |||||
| AUD | PPI q/q | 0.4% | 0.5% | ||||||
| 6:00am | JPY | Housing Starts y/y | 5.6% | 4.2% | |||||
| 9:00am | CHF | SNB Chairman Jordan Speaks | |||||||
| 9:30am | GBP | High Street Lending | 38.7K | 35.3K | |||||
| Tentative | EUR | Italian 10-y Bond Auction | |||||||
| 11:00am | GBP | CBI Realized Sales | 0 | -18 | |||||
| 1:30pm | USD | Advance GDP q/q | 2.2% | 2.2% | |||||
| USD | Advance GDP Price Index q/q | 1.3% | 1.8% | ||||||
| 3:00pm | USD | Revised UoM Consumer Sentiment | 97.1 | 96.9 | |||||
| USD | Revised UoM Inflation Expectations | 2.4% | |||||||
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: | 1.1289/1.1371 | 1.1419/1.1570 | 1.1621/59 |
| Spot: | 1.1259 | Support: | 1.1210/70 | 1.1177/84 | 1.0912 |
| USD/JPY | Mildly Higher | Resistance: | 112.08/56 | 113.71/114.55 | 115.50 |
| Spot: | 111.94 | Support: | 111.77/90 | 110.79/111.38 | 109.09/110.35 |
| GBP/USD | Higher | Resistance: | 1.3070/1.3132 | 1.3160/1.3196 | 1.3217/1.3381 |
| Spot: | 1.2983 | Support: | 1.2930/78 | 1.2773/1.2883 | 1.2662/96 |
| AUD/USD | Lower | Resistance: | 0.7136/68 | 0.7192/0.7246 | 0.7295/0.7393 |
| Spot: | 0.7133 | Support: | 0.7003/0.7132 | 0.6909 | 0.6827 |
| USD/CAD | Lower | Resistance: | 1.3374/1.3467 | 1.3565 | 1.3664 |
| Spot: | 1.3346 | Support: | 1.3319/40 | 1.3287/1.3296 | 1.3127/1.3242 |
| NZD/USD | Higher | Resistance: | 0.6688/0.6837 | 0.6873/0.6969 | 0.7060 |
| Spot: | 0.6675 | Support: | 0.6630/70 | 0.6501/86 | 0.6424/0.6465 |
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
