EDITORS-IN-CHIEF:
Jay and Julie Hawk
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ECONOMIC SUMMARY
This week’s economic calendar begins with speeches on Monday by RBA Governor Philip Lowe, German Bundesbank President Weidmann, and FOMC member Bostic. On Tuesday, releases include the RBA’s Monetary Policy Meeting Minutes and New Zealand Retail Sales.
Wednesday’s numbers will have the FOMC’s Meeting Minutes and Canadian Core Retail Sales. Thursday marks the first day of the Jackson Hole Economic Symposium, and releases include French, German and Eurozone Manufacturing and Services PMIs.
Friday’s highlights include the release of U.S. Core Durable Goods Orders, the second day of the Jackson Hole Symposium, and a speech by U.S. Fed Chair Powell. BOC Governor Poloz will speak on Saturday when the Jackson Hole event will conclude to wrap up the week’s key events.
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 | Out | Expected | Last | |||
| MonAug 20 | 12:01am | GBP | Rightmove HPI m/m | -2.3% | -0.1% | ||||
| 7:00am | EUR | German PPI m/m | 0.4% | 0.3% | |||||
| 11:00am | EUR | German Buba Monthly Report | |||||||
| 2:15pm | CAD | Gov Council Member Wilkins Speaks | |||||||
| 3:30pm | AUD | CB Leading Index m/m | 0.1% | ||||||
| 4:00pm | USD | FOMC Member Bostic Speaks | |||||||
| 5:00pm | EUR | German Buba President Weidmann Speaks | |||||||
| 11:00pm | AUD | RBA Gov Lowe Speaks | |||||||
| 11:45pm | NZD | Visitor Arrivals m/m | -3.5% | ||||||
| TueAug 21 | 2:30am | AUD | Monetary Policy Meeting Minutes | ||||||
| 4:00am | NZD | Credit Card Spending y/y | 5.7% | ||||||
| 7:00am | CHF | Trade Balance | 2.85B | 2.59B | |||||
| 9:30am | GBP | Public Sector Net Borrowing | -2.1B | 4.5B | |||||
| 11:00am | GBP | CBI Industrial Order Expectations | 10 | 11 | |||||
| 1:30pm | CAD | Wholesale Sales m/m | 1.2% | ||||||
| Tentative | NZD | GDT Price Index | 0.0% | ||||||
| 11:45pm | NZD | Retail Sales q/q | 0.4% | 0.1% | |||||
| NZD | Core Retail Sales q/q | 0.8% | 0.6% | ||||||
| WedAug 22 | 1:30am | AUD | MI Leading Index m/m | 0.0% | |||||
| 2:30am | AUD | Construction Work Done q/q | 0.9% | 0.2% | |||||
| 4:10am | AUD | RBA Assist Gov Debelle Speaks | |||||||
| 5:30am | JPY | All Industries Activity m/m | -0.7% | 0.1% | |||||
| Tentative | EUR | German 10-y Bond Auction | 0.47|1.8 | ||||||
| 1:30pm | CAD | Core Retail Sales m/m | 1.4% | ||||||
| CAD | Retail Sales m/m | 2.0% | |||||||
| 3:00pm | USD | Existing Home Sales | 5.44M | 5.38M | |||||
| 3:30pm | USD | Crude Oil Inventories | 6.8M | ||||||
| 7:00pm | USD | FOMC Meeting Minutes | |||||||
| ThuAug 23 | 1:30am | JPY | Flash Manufacturing PMI | 52.4 | 52.3 | ||||
| 8:00am | EUR | French Flash Manufacturing PMI | 53.5 | 53.3 | |||||
| EUR | French Flash Services PMI | 55.1 | 54.9 | ||||||
| 8:30am | EUR | German Buba President Weidmann Speaks | |||||||
| EUR | German Flash Manufacturing PMI | 56.6 | 56.9 | ||||||
| EUR | German Flash Services PMI | 54.4 | 54.1 | ||||||
| 9:00am | EUR | Flash Manufacturing PMI | 55.1 | 55.1 | |||||
| EUR | Flash Services PMI | 54.4 | 54.2 | ||||||
| 11:00am | GBP | CBI Realized Sales | 13 | 20 | |||||
| 12:30pm | EUR | ECB Monetary Policy Meeting Accounts | |||||||
| 1:30pm | CAD | Corporate Profits q/q | 2.7% | ||||||
| USD | Unemployment Claims | 215K | 212K | ||||||
| 2:00pm | CNY | CB Leading Index m/m | 0.8% | ||||||
| USD | HPI m/m | 0.3% | 0.2% | ||||||
| 2:45pm | USD | Flash Manufacturing PMI | 55.1 | 55.3 | |||||
| USD | Flash Services PMI | 55.9 | 56.0 | ||||||
| 3:00pm | EUR | Consumer Confidence | -1 | -1 | |||||
| USD | New Home Sales | 651K | 631K | ||||||
| 3:30pm | USD | Natural Gas Storage | 33B | ||||||
| Day 1 | All | Jackson Hole Symposium | |||||||
| 11:45pm | NZD | Trade Balance | -400M | -113M | |||||
| FriAug 24 | 12:30am | JPY | National Core CPI y/y | 0.9% | 0.8% | ||||
| 12:50am | JPY | SPPI y/y | 1.2% | 1.2% | |||||
| 7:00am | EUR | German Final GDP q/q | 0.5% | 0.5% | |||||
| 9:30am | GBP | High Street Lending | 40.6K | 40.5K | |||||
| 1:30pm | USD | Core Durable Goods Orders m/m | 0.5% | 0.2% | |||||
| USD | Durable Goods Orders m/m | -0.3% | 0.8% | ||||||
| 2:00pm | EUR | Belgian NBB Business Climate | -0.5 | -1.3 | |||||
| 3:00pm | USD | Fed Chair Powell Speaks | |||||||
| Day 2 | All | Jackson Hole Symposium | |||||||
| SatAug 25 | Day 3 | All | Jackson Hole Symposium | ||||||
| 5:25pm | CAD | BOC Gov Poloz Speaks |
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 | Lower | Resistance: | 1.1444/45 | 1.1508/75 | 1.1613/28 |
| Spot: | 1.1424 | Support: | 1.1301/13 | 1.1285/96 | 1.1110/20 |
| USD/JPY | Higher | Resistance: | 110.75/91 | 111.13/43 | 112.20 |
| Spot: | 110.63 | Support: | 109.20/110.48 | 108.65/95 | 108.11 |
| GBP/USD | Lower | Resistance: | 1.2775/1.2827 | 1.2958 | 1.3027/50 |
| Spot: | 1.2742 | Support: | 1.2723 | 1.2589/1.2662 | 1.2366 |
| AUD/USD | Lower | Resistance: | 0.7311/73 | 0.7412/84 | 0.7502/66 |
| Spot: | 0.7306 | Support: | 0.7203 | 0.7145/60 | 0.6909 |
| USD/CAD | Higher | Resistance: | 1.3096/1.3130 | 1.3174/1.3252 | 1.3290 |
| Spot: | 1.3063 | Support: | 1.2922/1.3052 | 1.2858 | 1.2819 |
| NZD/USD | Lower | Resistance: | 0.6676/0.6726 | 0.6790/0.6840 | 0.7060 |
| Spot: | 0.6623 | Support: | 0.6498 | 0.6347 | 0.6098 |
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 to inquire about getting expertly written financial content for your business, and view or purchase Jay and Julie Hawk’s financial books at Amazon.com here: amazon.com/author/Jayhawk.
