Weekly Forex Market Followup (December 24th - December 28th 2012)

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Key Fundamental Forex Events for the Week of December 24th through December 28th

The following table lists the key economic data and other events that came out during the week of December 24th through December 28th, with release times displayed for the GMT time zone.

The list also indicates how much each release deviated from the market consensus forecast upon release, as well as what the affected major currency pair or pairs did after each event or set of events.

Monday, December 24th

  • All Day JPY Bank Holiday
  • All Day EUR German Bank Holiday
  • All Day NZD Bank Holiday
  • All Day AUD Bank Holiday

Tuesday, December 25th

  • 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
  • All Day CAD Bank Holiday
  • All Day USD Bank Holiday
  • All Day NZD Bank Holiday
  • All Day AUD Bank Holiday
  • 11:50pm JPY The BOJ’s Monetary Policy Meeting Minutes noted that, "Members agreed that there was concern that, if the deceleration in overseas economies became more prolonged, the pick-up in exports and industrial production would be delayed, thereby intensifying the negative effects on domestic demand." The currency fell.

Wednesday, December 26th

  • All Day CHF Bank Holiday
  • All Day EUR German Bank Holiday
  • All Day EUR Italian Bank Holiday
  • All Day GBP Bank Holiday
  • All Day CAD Bank Holiday
  • 2:00pm USD S&P/CS Composite-20 HPI 4.3% versus 3.9% expected. The currency fell.

Thursday, December 27th

  • 9:30am GBP BBA Mortgage Approvals 33.6K versus 34.6K expected. The currency fell.
  • 1:30pm USD Weekly Initial Jobless Claims 350K versus 365K expected. The currency fell.
  • 3:00pm USD CB Consumer Confidence 65.1 versus 70.3 expected.
  • 3:00pm USD New Home Sales 377K versus 382K expected.
  • 11:30pm JPY Household Spending 0.2% versus 0.8% expected. The currency fell.
  • 11:30pm JPY Tokyo Core CPI -0.6% versus -0.5% expected.
  • 11:50pm JPY Preliminary Industrial Production -1.7% versus -0.5% expected.
  • 11:50pm JPY Retail Sales 1.3% versus 1.2% expected.

Friday, December 28th

  • 1:30am JPY Average Cash Earnings -1.1% versus -0.4% expected. The currency rose.
  • 7:45am EUR French Consumer Spending 0.2% versus 0.0% expected. The currency fell.
  • 10:13am EUR Italian 10-year Bond Auction 4.48 average yield and 1.5 bid to cover ratio.
  • 2:45pm USD Chicago PMI 51.6 versus 51.2 expected. The currency rose.
  • 3:00pm USD Pending Home Sales 1.7% versus -0.3% expected.
  • 4:00pm USD Crude Oil Inventories -0.6M versus last -1.0M.

Technical Recap for the Majors This Week

EURUSD:

Forecast: Lower
Actual: Mildly higher from a 1.3178 open to a 1.3221 close.

USDJPY:

Forecast: Mildly Higher
Actual: Higher from an 84.37 open to an 86.10 close.

GBPUSD:

Forecast: Lower
Actual: Mildly higher from a 1.6156 open to a 1.6160 close.

AUDUSD:

Forecast: Mildly Lower
Actual: Mildly lower from a 1.0403 open to a 1.0375 close.

USDCAD:

Forecast: Mildly Higher
Actual: Mildly higher from a 0.9935 open to a 0.9954 close.

NZDUSD:

Forecast: Mildly Lower
Actual: Mildly lower from a 0.8238 open to a 0.8204 close.

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Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.


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