A look ahead to next week in the forex markets

David Hobart

There’s still plenty to see this week in the forex markets, and it’s only Thursday.

It’s also wise to keep an eye on what’s coming up further down the line.

On Monday of next week there’ll be a Caixin manufacturing purchasing managers’ index release out of China at 1:45am GMT, covering September.

This is expected to show a change from 50.4 to 49.8.

Japanese construction orders information for August will be out at 5am GMT.

Year on year, this was last recorded at 26.9%.

German retail sales data for August will be out at 6am GMT and will no doubt be closely watched by those who are concerned about the performance of this major European economy.

Month on month, it is expected to move from -2.2% to -1%.

German unemployment change data for September will be out at 7:55am GMT.

This is expected to hold firm at 5% – a sign which, if it transpires, might indicate that the German labour market at least is not as poorly performing as expected.

Gross domestic product information for the second quarter of the year will be out of the UK at 8:30am GMT.

This is expected to reveal a positive quarter on quarter result, this time from -0.2% to +0.5%.

Europe-wide unemployment rate figures for August will be out at 9am GMT.

Following in the pattern of the German figures, these are expected to show no change from 7.5%.

The preliminary German harmonised index of consumer prices for September is expected at 12pm GMT as well.

This is largely expected to show no change from its previous position of 1% on a year on year basis.

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

This rate currently stands at 1%, and there is as yet no consensus as to where the bank will go next.

Preliminary European consumer price index data will be the next big event of the morning, covering September.

This is due to come out at 9am GMT and is expected to show no year on year change from its previous position of 1%.

On Wednesday, there will be bank closures in place in Germany for the Day of German Unity.

This could lead to reduced trading volumes for the euro.

The day will be quiet more widely, although there will be a foreign bond investment data release from Japan for the dates around 27th September.

This is due to be released at 11:50pm GMT.

Looking ahead to Thursday of next week, the usual round of US jobless claims will be out at 12:30pm GMT.

Initial jobless claims will cover the dates around 27th September, while continuing claims will be out for the dates around 20th September.

A crucial event on Thursday will be the release of the US non-manufacturing PMI data for September, which is expected from ISM at 2pm GMT.

This is expected to show a move from 56.4 to 55.8.

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David Hobart
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