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 May 14th – May 18th, 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, May 13^th

11:45pm NZD Core Retail Sales (0.3%, > good for currency)

Monday, May 14^th

4:45pm CHF SNB Chairman Jordan Speaks (hawkish = good for currency)

Tuesday, May 15^th

2:30am AUD Monetary Policy Meeting Minutes (hawkish = good for currency)

10:00am EUR German ZEW Economic Sentiment (19.2, > good for currency)

1:30pm USD Core CPI (0.2%, > good for currency)

1:30pm USD Core Retail Sales (0.3%, > good for currency)

1:30pm USD Retail Sales (0.2%, > good for currency)

2:00pm USD TIC Long-Term Purchases (19.4B, > good for currency)

Wednesday, May 16^th

9:30am GBP Claimant Count Change (4.9K, > good for currency)

10:30am GBP BOE Governor King Speaks (hawkish = good for currency)

10:30am GBP BOE Inflation Report (hawkish = good for currency)

1:30pm USD Building Permits (0.73M, > good for currency)

7:00pm USD FOMC Meeting Minutes (hawkish = good for currency)

11:45pm NZD PPI Input (0.0%, > good for currency)

Thursday, May 17^th

12:50am JPY Preliminary GDP (0.9%, > good for currency)

All Day CHF Bank Holiday

All Day EUR French Bank Holiday

All Day EUR German Bank Holiday

1:30pm USD Weekly Initial Jobless Claims (370K, > good for currency)

3:00pm USD Philly Fed Manufacturing Index (10.6, > good for currency)

Friday, May 18^th

1:30pm CAD Core CPI (0.3%, > good for currency)

All Day G8 Meetings (hawkish = good for currency)

Saturday, May 19^th

All Day G8 Meetings (hawkish = good for currency)

 Technical Forecast and Levels to Watch for the Majors This Week

EURUSD: Lower

Resistance:                                                                                                                     Initial: 1.2946/94, 1.3000/55, 1.3133/59, 1.3211/24, 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: 1.2904, 1.2886, 1.2857/77 and 1.2623/65.                                                                     Below: 1.2588, 1.2456, 1.2329 and 1.1876.

USDJPY: Mildly Lower

Resistance:                                                                                                                                      Initial: 79.96/80.22, 80.56/61, 80.82, 81.14/46, 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: 79.64, 79.52, 79.40/43, 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: 1.6075/80, 1.6092, 1.6109, 1.6182/98, 1.6297, 1.6301, 1.6452/56 and 1.6474.         Above: 1.6546, 1.6570, 1.6589/98, 1.6616, 1.6741/45 and 1.6876.

Support:                                                                                                                      Initial: 1.6061, 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: Mildly Higher

Resistance:                                                                                                                  Initial: 1.0052, 1.0100/16, 1.0216/66, 1.0303/84, 1.0422, 1.0444/51, 1.0474/98, 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: 1.0000/18, 0.9925/83, 0.9900, 0.9861/63 and 0.9732.                                             Below: 0.9620/89, 0.9536/41, 0.9500, 0.9486, 0.9386, 0.9341 and 0.9220.

USDCAD: Mildly Lower

Resistance:                                                                                                                  Initial: 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: 0.9997, 0.9969, 0.9947/54, 0.9924/27, 0.9906, 0.9828/99, 0.9799, 0.9796, 0.9789 and 0.9724.                                                                                                                        Below: 0.9686, 0.9645, 0.9525, 0.9445 and 0.9405.

NZDUSD: Mildly Higher

Resistance:                                                                                                                  Initial: 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: 0.7804/88, 0.7723/95, 0.7605/72, 0.7568 and 0.7500/52.                                        Below: 0.7404/67, 0.7369, 0.7342, 0.73210.7189, 0.7115, 0.7000, 0.6945/62, 0.6793 and 0.6560.