Forex, Market Reports

Forex MarketWatch Weekly Outlook for August 19th

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Graphic for MW Outlooks

EDITORS-IN-CHIEF:

Jay and Julie Hawk

FIND OUT MORE:

www.thefxperts.com

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.

 

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