Weekly Forex Market Followup (May 28th - June 1st 2012)
Key Fundamental Forex Events for the Week of May 28th through June 1st
The following table lists the key economic data and other events that came out during the week of May 28th through June 1st, 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, May 28th
- 12:10am AUD RBA Governor Stevens said that, “All this change over an extended period is a sure sign that there has long been recognition of how critical governance arrangements are to payments systems. The same debates that have occurred in Australia on these issues are repeated around the world.” The currency rose.
- All Day CHF Bank Holiday
- All Day EUR French Bank Holiday
- All Day EUR German Bank Holiday
- All Day USD Bank Holiday
Tuesday, May 29th
- 3:00pm USD CB Consumer Confidence 64.9 versus 69.6 expected. The currency rose overall.
Wednesday, May 30th
- 2:30am AUD Retail Sales -0.2% versus 0.2% expected. The currency fell.
- 10:17am EUR Italian 10-y Bond Auction 6.03 average yield with a 1.4 bid to cover ratio. "Italy auctioned 5.73 billion euros ($7.1 billion) of five- and 10-year bonds, less than the 6.25 billion-euro maximum target for the sale. The Treasury priced the 10-year debt to yield 6.03 percent, the highest since Jan. 30 and up from 5.84 percent at the previous auction on April 27." The currency fell.
- 3:00pm USD Pending Home Sales versus 0.0% expected. The currency rose overall.
Thursday, May 31st
- 2:00am NZD NBNZ Business Confidence 27.1 versus 35.8 expected. The currency rose.
- 2:30am AUD Building Approvals -8.7% versus 0.7% expected. The currency rose.
- 2:30am AUD Private Capital Expenditure 6.1% versus 4.1% expected.
- 1:15pm USD ADP Non-Farm Employment Change 133K versus 139K expected. The currency fell overall.
- 1:30pm USD Preliminary GDP 1.9% versus 1.9% expected.
- 1:30pm USD Unemployment Claims 383K versus 369K expected.
- All Day EUR Irish Stability Treaty Vote. "Ireland confirmed a "yes" vote in its referendum on Europe's Fiscal Stability Treaty allowing the country access to the 500 billion euro European Stability Mechanism and committing the coalition government to strict budgetary targets." The currency rose.
Friday, June 1st
- 2:00am CNY Manufacturing PMI 50.4 versus 52.1 expected.
- 8:15am CHF Retail Sales 0.1% versus 3.6% expected. The currency fell.
- 9:30am GBP Manufacturing PMI 45.9 versus 49.7 expected. The currency fell.
- 1:30pm CAD GDP 0.1% versus 0.3% expected. The currency fell.
- 1:30pm USD Non-Farm Employment Change 69K versus 152K expected. The currency rose overall.
- 1:30pm USD Unemployment Rate 8.2% versus 8.1% expected.
- 3:00pm USD ISM Manufacturing PMI versus 54.1 expected.
Technical Recap for the Majors This Week
Actual: Lower from a 1.2566 open to a 1.2386 close.
Actual: Lower from a 79.61 open to a 78.18 close.
Actual: Lower from a 1.5679 open to a 1.5377 close.
Forecast: Mildly Higher
Actual: Lower from a 0.9813 open to a 0.9678 close.
Forecast: Mildly Lower
Actual: Higher from a 1.0260 open to a 1.0393 close.
Forecast: Mildly Higher
Actual: Mildly lower from a 0.7586 open to a 0.7529 close
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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