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 June 4th – June 8th, 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.

Sunday, June 3^rd

• All Day NZD Bank Holiday

Monday, June 4^th

• All Day GBP Bank Holiday

Tuesday, June 5^th

• 5:30am AUD Cash Rate (3.75%, > good for currency)
• 5:30am AUD RBA Rate Statement (hawkish = good for currency)
• All Day GBP Bank Holiday
• 1:30pm CAD Building Permits (2.3%, > good for currency)
• 2:00pm CAD BOC Rate Statement (hawkish = good for currency)
• 2:00pm CAD Overnight Rate (1.00%, > good for currency)
• 3:00pm USD ISM Non-Manufacturing PMI (53.7, > good for currency)

Wednesday, June 6^th

• 2:30am AUD GDP (0.5%, > good for currency)
• 9:30am GBP Construction PMI (54.7, > good for currency)
• 12:45pm EUR Minimum Bid Rate (1.00%, > good for currency)
• 1:30pm EUR ECB Press Conference (hawkish = good for currency)

Thursday, June 7^th

• 2:30am AUD Employment Change (0.9K, > good for currency)
• 2:30am AUD Unemployment Rate (5.1%, < good for currency)
• 8:00am CHF Foreign Currency Reserves (last 235.6B, < good for currency)
• 8:15am CHF CPI (0.1%, > good for currency)
• 9:30am GBP Services PMI (52.7, > good for currency)
• 12:00pm GBP Asset Purchase Facility (325B, < good for currency)
• 12:00pm GBP Official Bank Rate (0.50%, > good for currency)
• Tentative GBP MPC Rate Statement (hawkish = good for currency)
• 1:30pm USD Weekly Initial Jobless Claims (385K, < good for currency)
• 3:00pm CAD Ivey PMI (51.8, > good for currency)
• 3:00pm USD Fed Chairman Bernanke Testifies (hawkish = good for currency)

Friday, June 8^th

• 12:50am JPY Current Account (0.62T, > good for currency)
• 2:30am AUD Trade Balance (-0.92B, > good for currency)
• 9:30am GBP PPI Input (-1.2%, > good for currency)
• 1:30pm CAD Employment Change (7.5K, > good for currency)
• 1:30pm CAD Trade Balance (-0.05B, > good for currency)
• 1:30pm CAD Unemployment Rate (7.3%, < good for currency)
• 1:30pm USD Trade Balance (-49.3B, > good for currency)

Saturday, June 9^th

• 2:30am CNY CPI (3.2%, > good for currency)

Technical Forecast and Levels to Watch for the Majors This Week

EURUSD: Mildly Higher

Resistance:
Initial: 1.2456, 1.2496, 1.2588, 1.2623/65, 1.2857/86, 1.2904, 1.2946/94, 1.3000/55, 1.3133/59, 1.3211/24, 1.3251/92, 1.3321, 1.3376/85, 1.3433 and 1.3485/95.
Above: 1.3546/68, 1.3614, 1.3795/98, 1.3836, 1.3969, 1.4000, 1.4246, 1.4500/17, 1.4695 and 1.4939.

Support:
Initial: 1.2329, 1.2288, 1.1938, 1.1876 and 1.1639.
Below: 1.0762, 1.0206, 0.9599/0.9607, 0.9338, 0.8410, 0.8347 and 0.8225.

USDJPY: Mildly Lower

Resistance:
Initial: 78.28, 78.66, 78.99, 79.05, 79.40/52, 79.96/80.22, 80.56/61, 80.82, 81.14/46, 81.76/96, 82.01/22, 82.53 and 82.64.
Above: 83.01/83.96, 84.09/17, 84.51, 84.80, 85.51, 85.92, 87.11/13, 87.95, 93.77 and 94.97.

Support:
Initial: 78.06, 77.00, 77.66, 77.89, 76.73/83 and 76.02/41.
Below: 75.94/98, 75.70 and 75.56.

GBPUSD: Mildly Higher

Resistance:
Initial: 1.5410/99, 1.5516/85, 1.5601, 1.5624/47, 1.5668, 1.5685/91, 1.5717, 1.5732, 1.5781, 1.5804/07, 1.5890, 1.5907, 1.5921/27, 1.5983/90, 1.6035, 1.6061/92, 1.6109 and 1.6182/98.
Above: 1.6297, 1.6301, 1.6452/56, 1.6474, 1.6546, 1.6570, 1.6589/98, 1.6616, 1.6741/45 and 1.6876.

Support:
Initial: 1.5375, 1.5293, 1.5270/77, 1.5267, 1.5232, 1.5123, 1.5066 and 1.5000.
Below: 1.4785/98, 1.4348, 1.4232, 1.3653 and 1.3501. 

AUDUSD: Mildly Higher

Resistance:
Initial: 0.9732, 0.9794, 0.9861/63, 0.9896, 0.9900, 0.9925/83, 1.0000/18, 1.0052, 1.0100/16, 1.0216/66, 1.0303/84, 1.0422, 1.0444/51 and 1.0474/98.
Above: 1.0508, 1.0556, 1.0596, 1.0608/38, 1.0654, 1.0668/86, 1.0751/53, 1.0792/98, 1.0842/54, 1.1010, 1.1064 and 1.1079.

Support:
Initial: 0.9620/89, 0.9585, 0.9536/41, 0.9500 and 0.9486.
Below: 0.9382/86, 0.9341, 0.9329, 0.9221, 0.8915, 0.8734, 0.8578 and 0.8066/81.

USDCAD: Mildly Lower

Resistance:
Initial: 1.0415/23, 1.0438/39, 1.0481 and 1.0500.
Above: 1.0506, 1.0522, 1.0646/56, 1.0669 and 1.0742/85.

Support:
Initial: 1.0334/37, 1.0262/1.0311, 1.0220/32, 1.0207, 1.0160/99, 1.0105/42, 1.0018/78, 0.9924/97, 0.9906, 0.9828/99, 0.9789/99 and 0.9724.
Below: 0.9686, 0.9645, 0.9525, 0.9445 and 0.9405.

NZDUSD: Higher

Resistance:
Initial: 0.7552/85, 0.7605/76, 0.7723/95, 0.7804/88, 0.7906, 0.7955, 0.7979, 0.7993/96, 0.8057/99, 0.8109/35, 0.8204, 0.8227, 0.8240/62, 0.8279 and 0.8294.
Above: 0.8317/95, 0.8405, 0.8420/27, 0.8504, 0.8571, 0.8764 and 0.8841.

Support:
Initial: 0.7521, 0.7500, 0.7404/67, 0.7369, 0.7342, 0.7321, 0.7189, 0.7115, 0.7099 and 0.7000.
Below: 0.6945/62, 0.6793, 0.6686, 0.6560, 0.5914/28, 0.5012, 0.4890, 0.4485, 0.4451 and 0.3909.