Key Fundamental Forex Events for the Week of May 30^th through June 3^rd

The following table lists the key economic data and other events that came out during the week of May 30^th through June 3^rd.

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 30^th:

• CAD - GDP 0.3% versus 0.2%. The CAD rose.

Tuesday, May 31^st:

• NZD - NBNZ Business Confidence 38.3 versus last 14.2. The NZD gained.
• AUD - Building Approvals -1.3% versus -1.7%. The AUD fell.
• GBP - Inflation Report Hearings were not held. Sterling fell.
• CAD - BOC Rate Statement said the central bank would raise rates "eventually" as the economy continues to recover. BOC Governor Mark Carney also noted that, "To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed, some of the considerable monetary policy stimulus currently in place will be eventually withdrawn."
• CAD - Overnight Rate was unchanged at 1.00%. The CAD strengthened.
• USD - CB Consumer Confidence 60.8 versus 66.2. The USD was mixed.

Wednesday, June 1^st:

• AUD - GDP -1.2% versus -0.3%. The AUD fell.
• CHF - Retail Sales 7.5% versus 1.9%. The CHF rose.
• GBP - Halifax HPI. Still not released, but forecast at 0.4%.
• GBP - Manufacturing PMI 52.1 versus 54.3. The GBP dropped.
• USD - ADP Non-Farm Employment Change 38K versus 177K.
• USD - ISM Manufacturing PMI 53.5K versus 58.4. The USD was mixed.

Thursday, June 2^nd:

• AUD - Retail Sales 1.1% versus 0.4%.
• AUD - Trade Balance 1.60B versus 2.13B. The AUD was higher.
• GBP - Construction PMI 54 versus 53.8. Sterling was higher.
• USD – Weekly Initial Jobless Claims 422K versus 427K. The USD was mostly lower.;
• NZD - Building Consents -1.6% versus last 2.2% result. The Kiwi fell.

Friday, June 3^rd:

• GBP - Services PMI 53.8 versus 54.4. Sterling was unchanged.
• USD - Non-Farm Payrolls 54K versus 194K.
• USD - Unemployment Rate 9.1% versus 9.0%.
• USD - ISM Non-Manufacturing PMI 54.6 versus 53.7. The USD was mixed.

Technical Recap for the Majors This Week

EURUSD: 

Forecast: Mildly Lower
Actual: Higher from a 1.4320 open to a 1.4577 close.

USDJPY:

Forecast: Mildly Higher
Actual: Mildly lower from an 80.75 open to an 80.60 close.

GBPUSD: 

Forecast: Mildly Lower
Actual: Mildly lower from a 1.6496 open to a 1.6342 close.

AUDUSD: 

Forecast: Mildly Higher
Actual: Mildly higher from a 1.0684 open to a 1.0690 close.

USDCAD: 

Forecast: Mildly Higher
Actual: Mildly higher from a 0.9781 open to a 0.9788 close.

NZDUSD: 

Forecast: Higher
Actual: Mildly lower from a 0.8181 open to a 0.8120 close.