Friday in the forex markets: what’s on

David Hobart

The final day of the forex trading week looks set to be a pretty busy one, and it’s wise for traders to familiarise themselves with what is scheduled in.

A speech from Randal Quarles, who is a member and vice chair for supervision of the Federal Reserve Board of Governors, will occur at 12:30pm GMT in the US.

This will be followed by a personal income data release covering the US in August.

It is expected that this will show a rise from 0.1% to 0.4% when it is released at 12:30pm GMT.

The US personal consumption expenditures price index for August is also due out during this time slot.

It is forecast that this will show a change from 1.4% to 1.3% year on year.

Data on the volume of nondefense capital goods orders (excluding aircraft) in the US over the course of August is also due out at this time.

This is likely to show what could be interpreted as a worrying drop, this time from 0.2% to 0%.

Over the weekend, there will be a number of events on the calendar too.

Sunday evening, there will be a speech from Sabine Lautenschläger, who​ is another member of the European Central Bank’s Executive Board.

New Zealand’s building permits data for August will be out at 9:45pm GMT and is expected to show a month on month change from -1.3% to -2.7%.

The Bank of Japan will reveal its summary of opinions at 11:50pm GMT, sharing some insights into how it believes the Japanese economy will perform in the coming weeks and months.

The day will be rounded off by information out of Japan on retail trade in August. This is scheduled for the same time slot and is due to show a year on year change from -2% to +0.9%.

Asian trading may well slow down next week thanks to the Chinese National Day, celebrating the anniversary of the country, taking place.

Celebrations are scheduled in across the week, and widespread bank closures are possible.

Before that begins, however, there will be some Chinese data releases.

Manufacturing purchasing managers’ index data for September will be out at 1:45am GMT, and this is expected to show a change from 50.4 to 50.2.

Later in the day, the first key event will be a preliminary harmonised index of consumer prices for September from Germany.

Year on year, these are expected to move from 1% to 1.2%.

Japanese jobs data will be the last item key item out, this time at 11:30am GMT and covering the month of August.

The jobs to applicants ratio is expected to show a change from 1.59 to 1.58, while the unemployment rate for August is due to show a change from 2.2% to 2.4%.

Looking ahead to Tuesday, the Reserve Bank of Australia is scheduled to make its interest rate decision at 4:30am GMT.

Analysts are now expecting that the bank will cut rates from their current position of 1% down to 0.75% on the day.

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David Hobart
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