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A new forex trading week – but what’s happening?

A fresh foreign exchange trading week has kicked off today, meaning that there’s plenty to keep an eye on as the week progresses.

Today (Monday) is a bank holiday in the United Kingdom, meaning that there may well be a slowdown in trading action for sterling.

However, other countries will be active. Germany will see an IFO expectations release covering the month of August, and this is due out at 8am GMT.

The IFO will also release its current assessment figures for the same month at the same time. It is expected that these will show a change from 99.4 to 100.4.

Durable goods orders for July will be out at 12.30pm GMT and are expected to show a change from 1.9% to 1%.

Japanese large retails sales, also for July, are due out at 11.50pm GMT.

Looking ahead to Tuesday, it’s expected that German gross domestic product data for the second quarter of 2019 will be out at 6am GMT. Year on year, this was last recorded at 0.4%.

French consumer confidence figures for August will be out at 6.45am GMT and are expected to show a change from 102 to 101.

US house price index data for June will be out at 1pm GMT. Month on month, this was last recorded at 0.1%. Consumer confidence data for the same country will follow shortly afterwards at 2pm GMT.

On Wednesday, a measure of construction work done in Australia over the course of the second quarter of 2019 will be revealed at 1.30am GMT. This was last recorded at -1.9%.

European private loans data for July will be out at 8am GMT. Year on year, this was last recorded at 3.3%.

In the US, MBA mortgage applications for the dates around August 23rd will be out at 11am GMT. These were last noted at -0.9%.

Japanese foreign bond investment data will come out late in the evening, while early on Thursday consumer confidence data from August for the same country will be out at 5am GMT. This was last seen at 37.8.

French consumer spending data for July will be out at 6.45am GMT. Month on month, this was last recorded at -0.1%.

Preliminary European consumer price index data for August will be out at 7am GMT. This was last noted at half a percentage point.

German unemployment rates for August at 7.55am GMT may well shed some light on the performance of this economy, which is one of Europe’s biggest and which has been teetering on the brink of recession recently. The rate was last noted at 5%.

Another key German statistic will be out at 12pm GMT. The preliminary harmonised index of consumer prices for August will be released and is expected to show a change from 1.1% to 1.3%.

Preliminary US gross domestic product data for the second quarter of 2019 will also reveal some insights. This was last recorded at 2.1% and is predicted to show a dip to 2%. This could well fuel plans at the Federal Reserve to cut rates and stimulate the economy in September.

 

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.


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