Forex, Market Reports

Forex MarketWatch Weekly Outlook for April 22nd, 2019

cropped-jellyhawk-logo1.jpg

Graphic for MW Outlooks

EDITORS-IN-CHIEF:

Jay and Julie Hawk

FIND OUT MORE:

www.thefxperts.com

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

Jay Hawk Books Header for FB.png

Advertisements