Forex, Market Reports

Forex MarketWatch Weekly Outlook for October 15th

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 shows more activity than last week and begins with Monday’s releases, which include U.S. Core and Retail Sales, the BOC Business Outlook Survey, and New Zealand Quarterly CPI. In addition, the U.S. Treasury’s Currency Report is tentatively scheduled for Monday. Tuesday’s releases include the UK Average Earnings Index and Unemployment Rate, as well as the RBA’s Monetary Policy Meeting Minutes.

On Wednesday, the Federal Reserve will release the latest FOMC Meeting Minutes, and UK CPI, RPI and PPI Input are also due out. Thursday features the Australian Employment Change and Unemployment Rate, UK Retail Sales, a speech by BOJ Governor Haruhiko Kuroda and the EU Economic Summit.

Friday’s releases conclude the week’s highlights with UK Public Sector Net Borrowing, Canadian CPI and Retail Sales data, as well as speeches by BOJ Governor Kuroda and BOE Governor Mark Carney.

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     Last Expected    
                   
SunOct 14 Day 3 All IMF Meetings
MonOct 15  12:01am GBP Rightmove HPI m/m 0.7%
5:30am JPY Revised Industrial Production m/m 0.7% 0.7%
8:15am CHF PPI m/m 0.1% 0.0%
1:30pm USD Core Retail Sales m/m 0.4% 0.3%
USD Retail Sales m/m 0.7% 0.1%
USD Empire State Manufacturing Index 20.4 19.0
3:00pm USD Business Inventories m/m 0.5% 0.6%
3:30pm CAD BOC Business Outlook Survey
Tentative USD Treasury Currency Report
10:45pm NZD CPI q/q 0.7% 0.4%
TueOct 16 1:30am AUD Monetary Policy Meeting Minutes
2:30am CNY CPI y/y 2.5% 2.3%
CNY PPI y/y 3.7% 4.1%
16th-18th CNY Foreign Direct Investment ytd/y 2.3%
7:00am EUR German Import Prices m/m 0.1% -0.2%
16th-17th CNY M2 Money Supply y/y 8.4% 8.2%
16th-17th CNY New Loans 1353B 1280B
9:30am GBP Average Earnings Index 3m/y 2.6% 2.6%
GBP Unemployment Rate 4.0% 4.0%
GBP Claimant Count Change 4.5K 8.7K
10:00am EUR Trade Balance 15.0B 12.8B
EUR ZEW Economic Sentiment -9.2 -7.2
EUR German ZEW Economic Sentiment -12.3 -10.6
11:00am EUR Italian Trade Balance 4.34B 5.68B
1:30pm CAD Foreign Securities Purchases 12.65B
2:15pm GBP MPC Member Cunliffe Speaks
USD Capacity Utilization Rate 78.2% 78.1%
USD Industrial Production m/m 0.2% 0.4%
3:00pm USD JOLTS Job Openings 6.90M 6.94M
USD NAHB Housing Market Index 68 67
Tentative NZD GDT Price Index -1.9%
16th-18th USD Federal Budget Balance 71.0B -214.1B
9:00pm USD TIC Long-Term Purchases 74.8B
9:15pm USD FOMC Member Daly Speaks
10:20pm AUD RBA Assist Gov Debelle Speaks
WedOct 17 12:30am AUD MI Leading Index m/m 0.1%
9:30am GBP CPI y/y 2.6% 2.7%
GBP PPI Input m/m 0.9% 0.5%
GBP RPI y/y 3.5% 3.5%
GBP Core CPI y/y 2.0% 2.1%
GBP FPC Meeting Minutes
GBP HPI y/y 3.5% 3.1%
GBP PPI Output m/m 0.2% 0.2%
10:00am EUR Final CPI y/y 2.1% 2.1%
EUR Final Core CPI y/y 0.9% 0.9%
Tentative EUR German 30-y Bond Auction 1.10|2.0
1:30pm CAD Manufacturing Sales m/m 0.9%
USD Building Permits 1.28M 1.25M
USD Housing Starts 1.21M 1.28M
2:30pm GBP CB Leading Index m/m -0.2%
3:30pm USD Crude Oil Inventories 6.0M
5:10pm USD FOMC Member Brainard Speaks
5:30pm EUR German Buba President Weidmann Speaks
6:00pm GBP MPC Member Broadbent Speaks
7:00pm USD FOMC Meeting Minutes
ThuOct 18 12:50am JPY Trade Balance -0.34T -0.19T
1:30am AUD Employment Change 15.2K 44.0K
AUD Unemployment Rate 5.3% 5.3%
AUD NAB Quarterly Business Confidence 7
Tentative JPY BOJ Gov Kuroda Speaks
7:00am CHF Trade Balance 2.45B 2.13B
EUR German WPI m/m 0.4% 0.3%
9:30am GBP Retail Sales m/m -0.3% 0.3%
Tentative EUR Spanish 10-y Bond Auction
All Day EUR EU Economic Summit
1:30pm CAD ADP Non-Farm Employment Change 13.6K
USD Philly Fed Manufacturing Index 21.0 22.9
USD Unemployment Claims 210K 214K
3:00pm USD CB Leading Index m/m 0.5% 0.4%
3:30pm USD Natural Gas Storage 90B
4:30pm USD FOMC Member Quarles Speaks
10:45pm NZD Visitor Arrivals m/m 2.8%
FriOct 19 12:30am JPY National Core CPI y/y 1.0% 0.9%
3:00am CNY GDP q/y 6.6% 6.7%
CNY Fixed Asset Investment ytd/y 5.3% 5.3%
CNY Industrial Production y/y 6.0% 6.1%
CNY NBS Press Conference
CNY Retail Sales y/y 9.0% 9.0%
CNY Unemployment Rate 5.0%
NZD Credit Card Spending y/y 7.7%
7:30am JPY BOJ Gov Kuroda Speaks
9:00am EUR Current Account 21.4B 21.3B
9:30am GBP Public Sector Net Borrowing 4.6B 5.9B
1:30pm CAD CPI m/m -0.1%
CAD Core Retail Sales m/m 0.9%
CAD Common CPI y/y 2.0%
CAD Median CPI y/y 2.1%
CAD Retail Sales m/m 0.3%
CAD Trimmed CPI y/y 2.2%
CAD Core CPI m/m 0.1%
3:00pm USD Existing Home Sales 5.31M 5.34M
4:30pm GBP BOE Gov Carney Speaks
5:00pm USD FOMC Member Bostic Speaks

 

TECHNICAL OUTLOOK

The table below contains a directional forecast fora the coming week, the current spot rate, and key support and resistance levels for each of the major currency pairs.

EUR/USD Higher Resistance: 1.1575/1.1764 1.1791/1.1852 1.1996
Spot: 1.1552 Support: 1.1508/31 1.1432/45 1.1301
USD/JPY Lower Resistance: 112.40/114.95 115.50 118.61/66
Spot: 112.19 Support: 112.04/15 111.13/76 108.65/110.90
   
GBP/USD Higher Resistance: 1.3143/1.3217 1.3258/1.3315 1.3362
Spot: 1.3107 Support: 1.3027/83 1.2922/58 1.2775/1.2897
 
AUD/USD Higher Resistance: 0.7131/60 0.7203/38 0.7304/62
Spot: 0.7109 Support: 0.7041/98 0.6909 0.6827
   
USD/CAD Lower Resistance: 1.3051/1.3130 1.3174/1.3260 1.3290
Spot: 1.3021 Support: 1.2963/87 1.2858/1.2922 1.2729/1.2819
   
NZD/USD Higher Resistance: 0.6498/0.6544 0.6595/0.6620 0.6676/0.6727
Spot: 0.6497 Support: 0.6424 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.  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