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A new forex week is here: what’s happening?

Denise Jackson

With a new week dawning, it’s time to take a look at what’s coming up in the forex calendar over the next few days.

Today (Monday) will be a somewhat slow day in the forex markets, with very few major events planned.

The main action will be in the afternoon and will be focused on Europe.

Philip Lane, who is an executive board member of the European Central Bank (ECB) is scheduled to make two speeches – one at 2pm GMT and another at 3pm GMT.

On Tuesday, the day in the GMT time zone will start with the release of the minutes from the Reserve Bank of Australia’s recent meeting.

These are due to be released at 12:30am GMT.

In Britain, the overall unemployment rate, covering the month of December, will come out at 9:30am GMT.

This, which will be released by National Statistics, is expected to show no change from its previous position of 3.8%.

Later on, a German economic sentiment release covering the month of February will thrust the single European currency back into the spotlight.

This release is expected to show a change from 26.7 to 21.5.

Canadian manufacturing sales data for December is due to be released at 1:30pm GMT.

This is set to show a change from -0.6% to +0.5%.

The day as a whole will be rounded off by Japanese trade balance data for January, which is due to be released at 11:50pm GMT.

On a year on year basis, imports are expected to show a change from 4.9% to -1.3%.

Exports are set to go from -6.3% to -6.9%.

On Wednesday, Britain’s consumer price index information for January will be coming out at 9:30am GMT.

This looks set to show a change from 1.3% to 1.4% on a year on year basis.

Also, out during this time slot will be retail price index information for the same month.

Year on year, this looks set to go from 2.2% to 2.4%.

The afternoon will be a big one for North America.

US housing starts information for January will be out at 1:30pm GMT and looks set to show a change from 1,608,000 to 1,390,000 on a month on month basis.

January’s producer price index will be out at 1:30pm GMT as well and is set to show a slight jump month on month.

It is forecast that this will go from 0.1% to 0.2%.

Also in this time slot will be a housing starts change data release for January.

This is due to show a change from 16.9% to -30.7%.

Over in Canada, the Bank of Canada will release its core consumer price index information for January in this timeslot too.

It is expected that this will show a change from 1.7% to 1.8% on a year on year basis.

The minutes of a meeting of the Federal Open Market Committee, which is part of the US Federal Reserve, will be released at 7pm GMT.

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Denise Jackson
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