Forex, Market Reports

Forex MarketWatch Weekly Outlook for September 16th, 2019

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Graphic for MW Outlooks

EDITORS-IN-CHIEF:

Jay and Julie Hawk

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http://www.thefxperts.com

ECONOMIC SUMMARY

The economic calendar’s pace picks up this week and begins with Tuesday’s release of the Australian Monetary Policy Meeting Minutes and HPI, German ZEW Economic Sentiment, and Canadian Manufacturing Sales.

Wednesday’s highlights include the U.S. Fed Funds Rate Decision, the FOMC Statement, Press Conference and Economic Projections, UK CPI and PPI Input, New Zealand GDP, and Canadian CPI.

Thursday then features the Australian Employment Change and Unemployment Rate, the BOJ Monetary Policy Statement and Press Conference, the U.S. Philly Fed Manufacturing Index, UK Retail Sales, and the BOE’s Official Bank Rate Decision, Monetary Policy Summary, MPC Official Bank Rate Votes and the Asset Purchase Facility. The week concludes on Friday with the release of Canadian Retail Sales and Core Retail Sales.

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  
MonSep 16 12:01am GBP Rightmove HPI m/m -0.2% -1.0%
All Day JPY Bank Holiday
3:00am CNY Fixed Asset Investment ytd/y 5.5% 5.7% 5.7%
CNY Industrial Production y/y 4.4% 5.2% 4.8%
CNY Retail Sales y/y 7.5% 7.9% 7.6%
CNY Unemployment Rate 5.2% 5.3%
 1:30pm CAD Foreign Securities Purchases -3.98B
USD Empire State Manufacturing Index 4.1 4.8
10:00pm NZD Westpac Consumer Sentiment 103.5
TueSep 17 2:30am AUD Monetary Policy Meeting Minutes
AUD HPI q/q -1.0% -3.0%
6:45am CHF SECO Economic Forecasts
10:00am EUR German ZEW Economic Sentiment -38.0 -44.1
EUR ZEW Economic Sentiment -37.4 -43.6
1:30pm CAD Manufacturing Sales m/m -0.3% -1.2%
2:15pm USD Capacity Utilization Rate 77.6% 77.5%
USD Industrial Production m/m 0.2% -0.2%
3:00pm USD NAHB Housing Market Index 66 66
3:30pm AUD CB Leading Index m/m 0.1%
Tentative NZD GDT Price Index -0.4%
9:00pm USD TIC Long-Term Purchases 81.3B 99.1B
11:45pm NZD Current Account -1.10B 0.68B
WedSep 18 12:50am JPY Trade Balance -0.13T
1:30am AUD MI Leading Index m/m 0.1%
9:30am GBP CPI y/y 1.8% 2.1%
GBP PPI Input m/m -0.4% 0.9%
GBP Core CPI y/y 1.8% 1.9%
GBP HPI y/y 0.8% 0.9%
GBP PPI Output m/m 0.1% 0.3%
GBP RPI y/y 2.5% 2.8%
10:00am EUR Final CPI y/y 1.0% 1.0%
EUR Final Core CPI y/y 0.9% 0.9%
Tentative EUR Italian Trade Balance 4.80B 5.73B
Tentative EUR German 30-y Bond Auction -0.11|1.1
1:30pm CAD CPI m/m -0.2% 0.5%
CAD Common CPI y/y 1.9% 1.9%
CAD Median CPI y/y 2.1% 2.1%
CAD Trimmed CPI y/y 2.1% 2.1%
CAD Core CPI m/m 0.3%
USD Building Permits 1.31M 1.32M
USD Housing Starts 1.25M 1.19M
3:30pm USD Crude Oil Inventories -6.9M
7:00pm USD FOMC Economic Projections
USD FOMC Statement
USD Federal Funds Rate <2.00% <2.25%
7:30pm USD FOMC Press Conference
11:45pm NZD GDP q/q 0.4% 0.6%
ThuSep 19 2:30am AUD Employment Change 15.2K 41.1K
AUD Unemployment Rate 5.2% 5.2%
AUD RBA Bulletin
Tentative JPY Monetary Policy Statement
Tentative JPY BOJ Policy Rate -0.10% -0.10%
5:30am JPY All Industries Activity m/m 0.4% -0.8%
7:00am CHF Trade Balance 3.22B 3.63B
Tentative JPY BOJ Press Conference
8:30am CHF SNB Monetary Policy Assessment
CHF SNB Policy Rate -0.75% -0.75%
9:00am EUR Current Account 20.3B 18.4B
9:30am GBP Retail Sales m/m -0.2% 0.2%
Tentative EUR Spanish 10-y Bond Auction
12:00pm GBP MPC Official Bank Rate Votes 0-0-9 0-0-9
GBP Monetary Policy Summary
GBP Official Bank Rate 0.75% 0.75%
GBP Asset Purchase Facility 435B 435B
GBP MPC Asset Purchase Facility Votes 0-0-9 0-0-9
1:30pm CAD ADP Non-Farm Employment Change 73.7K
USD Philly Fed Manufacturing Index 10.9 16.8
USD Current Account -127B -130B
USD Unemployment Claims 210K 204K
3:00pm USD CB Leading Index m/m 0.1% 0.5%
USD Existing Home Sales 5.39M 5.42M
3:30pm USD Natural Gas Storage 78B
FriSep 20 12:30am JPY National Core CPI y/y 0.5% 0.6%
4:00am NZD Credit Card Spending y/y 5.0%
7:00am EUR German PPI m/m 0.0% 0.1%
12:00pm GBP BOE Quarterly Bulletin
1:30pm CAD Core Retail Sales m/m 0.2% 0.9%
CAD Retail Sales m/m 0.4% 0.0%
3:00pm EUR Consumer Confidence -7 -7

 

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: 1.1085/1.1249 1.1273/1.1570 1.1791/1.1852
Spot: 1.1076 Support: 1.1016/66 1.0873/1.0952 1.0808/19
           
USD/JPY Lower Resistance: 107.88/109.31 110.37/112.56 113.38/114.21
Spot: 107.83 Support: 106.68/107.81 105.05/92 104.32/64
         
GBP/USD Higher Resistance: 1.2504/79 1.2734/83 1.2814/65
Spot: 1.2468 Support: 1.2440 1.2188/1.2385 1.1884/1.1.2110
         
AUD/USD Higher Resistance: 0.6876 0.6894/0.7246 0.6909/0.7393
Spot: 0.6874 Support: 0.6832/66 0.6677/0.6740 0.6248
           
USD/CAD Lower Resistance: 1.3265/1.3403 1.3422/1.3598 1.3660
Spot: 1.3234 Support: 1.3018/1.3237 1.2970 1.2916/27
           
NZD/USD Higher Resistance: 0.6410/0.6586 0.6626/0.6780 0.6937/69
Spot: 0.6383 Support: 0.6342/0.6377 0.6269/79 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

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