Key Fundamental Forex Events and Forecasts for the Coming Week

The following table lists the key economic data and other events that are due out during the week of April 30th – May 4th, with release times displayed for the GMT time zone.

The list also includes the current market consensus forecast for each event and indicates what sort of deviation might affect the forex market valuation of the indicated currency positively.

Monday, April 30^th

• All Day JPY Bank Holiday
• All Day CNY Bank Holiday
• 1:00am NZD NBNZ Business Confidence (last 33.8, > good for currency)
• 12:30pm CAD GDP (0.2%, > good for currency)

Tuesday, May 1^st

• All Day CNY Bank Holiday
• 1:00am CNY Manufacturing PMI (53.6, > good for currency)
• 4:30am AUD Cash Rate (4.00%, > good for currency)
• 4:30am AUD RBA Rate Statement (hawkish = good for currency)
• All Day CHF Bank Holiday
• All Day EUR French Bank Holiday
• All Day EUR German Bank Holiday
• All Day EUR Italian Bank Holiday
• 8:30am GBP Manufacturing PMI (51.4, > good for currency)
• 2:00pm USD ISM Manufacturing PMI (53.0, > good for currency)

Wednesday, May 2^nd

• 7:15am CHF Retail Sales (1.2%, > good for currency)
• 8:30am GBP Construction PMI (54.2, > good for currency)
• 12:15pm USD ADP Non-Farm Employment Change (179K, > good for currency)
• 10:45pm NZD Employment Change (0.5%, > good for currency)
• 10:45pm NZD Unemployment Rate (6.2%, < good for currency)

Thursday, May 3^rd

• All Day JPY Bank Holiday
• 8:30am GBP Services PMI (54.6, > good for currency)
• 11:45am EUR Minimum Bid Rate (1.00%, > good for currency)
• 12:30pm EUR ECB Press Conference (hawkish = good for currency)
• 12:30pm USD Weekly Initial Jobless Claims (382K, < good for currency)
• 2:00pm USD ISM Non-Manufacturing PMI (55.5, > good for currency)

Friday, May 4^th

• All Day JPY Bank Holiday
• 1:30am AUD RBA Monetary Policy Statement (hawkish = good for currency)
• 12:30pm USD Non-Farm Employment Change (176K, > good for currency)
• 12:30pm USD Unemployment Rate (8.2%, < good for currency)
• 2:00pm CAD Ivey PMI (64.2, > good for currency)

Technical Forecast and Levels to Watch for the Majors This Week

EURUSD: Lower

Resistance:
Initial: 1.3251, 1.3269, 1.3284/92, 1.3321, 1.3376/85, 1.3433, 1.3485/95, 1.3546/68, 1.3614 and 1.3795/98.
Above: 1.3836, 1.3969, 1.4000, 1.4246, 1.4500/17, 1.4695 and 1.4939.

Support:
Initial: 1.3211/24, 1.3133/59, 1.3055, 1.3032/34, 1.3000/25, 1.2946/94 and 1.2917.
Below: 1.2886, 1.2857/77 and 1.2623/65.

USDJPY: Lower

Resistance:
Initial: 80.56/58, 80.82, 81.14, 81.30, 81.46, 81.76/96, 82.01/22, 82.53, 82.64, 83.01/09, 83.17, 83.37, 83.77, 83.96, 84.09/17, 84.51, 84.80, 85.51 and 85.92.
Above: 87.11/13, 87.95, 93.77 and 94.97.

Support:
Initial: 80.22, 80.00, 79.96, 79.83, 79.52, 79.40, 79.05, 78.66, 78.06/28.
Below: 77.00/89, 76.73/83, 76.41, 76.10, 76.02, 75.94 and 75.56/70.

GBPUSD: Mildly Lower

Resistance:
Initial: 1.6297, 1.6300, 1.6452/56 and 1.6474.
Above: 1.6546, 1.6570, 1.6589/98, 1.6616, 1.6741/45 and 1.6876.

Support:
Initial: 1.6109/92, 1.6092, 1.6075/80, 1.6061, 1.6035, 1.5983/90, 1.5921/27, 1.5907, 1.5890, 1.5804/07, 1.5717/81, 1.5685/91, 1.5668, 1.5643/47, 1.5624/29, 1.5601 and 1.5516/85.
Below: 1.5465/99, 1.5422, 1.5410, 1.5375, 1.5293, 1.5270/77, 1.5232, 1.5123 and 1.5000. 

AUDUSD: Higher

Resistance:
Initial: 1.0473, 1.0498, 1.0508, 1.0556, 1.0596, 1.0608, 1.0627/38, 1.0654, 1.0668/70 and 1.0686.
Above: 1.0751/53, 1.0792/98, 1.0842, 1.0854, 1.1010, 1.1064 and 1.1079.

Support:
Initial: 1.0444/51, 1.0422, 1.0384, 1.0334, 1.0303, 1.0266, 1.0242/46, 1.0224/29, 1.0216 and 1.0100/16.
Below: 1.0000/52, 0.9925/83, 0.9900, 0.9861/63 and 0.9732.

USDCAD: Lower

Resistance:
Initial: 0.9828/99, 0.9906, 0.9924/27, 0.9947/69, 0.9997, 1.0018/78, 1.0105/42, 1.0160/99, 1.0207/32, 1.0262/87, 1.0297, 1.0302 and 1.0334/37.
Above: 1.0415/23, 1.0438, 1.0481, 1.0500, 1.0506, 1.0522, 1.0646/56, 1.0669 and 1.0742/85.

Support:
Initial: 0.9799, 0.9796, 0.9789 and 0.9724.
Below: 0.9686, 0.9645, 0.9525, 0.9445 and 0.9405.

NZDUSD: Higher

Resistance:
Initial: 0.8227, 0.8240/62, 0.8279, 0.8294, 0.8317, 0.8339, 0.8378, 0.8395, 0.8405, 0.8420/27 and 0.8504.
Above: 0.8571, 0.8764 and 0.8841.

Support:
Initial: 0.8204, 0.8109/35, 0.8057/99, 0.7993/96, 0.7979, 0.7955 and 0.7906.
Below: 0.7804/88, 0.7723/95, 0.7605/72, 0.7568 and 0.7500/52.