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A preview of next week in the foreign exchange markets

Now that this foreign exchange trading week is drawing to a close, it’s time to investigate what the next forex trading week might hold.

Monday of next week looks set to be a busy day.

The first key event will be a securities inflation release from Australia covering November.

On a year on year basis, this was last recorded at 1.5%.

Australia will continue to be in the spotlight later in the day, with building permits data for October released at 12:30am GMT.

This metric is expected by analysts to show a change from 7.6% to -4%.

In China, a Caixin manufacturing purchasing managers’ index (PMI) for November will be out at 1:45am GMT, covering the month of November.

This is expected to show a change from 51.7 to 51.4.

Swiss real retail sales data for October will be out at 7:30am GMT.

This will cover the month of October and is expected to show a year on year change from 0.9% to -0.4%.

German Markit manufacturing data for November will be out at 9:30am GMT and is expected to show a change from 48.3 to 48.1.

Over in the US, ISM manufacturing purchasing managers’ index information for November will be out at 3pm GMT.

This is predicted to show a slight change from 48.3 to 49.4.

Looking ahead to the following day (Tuesday of next week), the Reserve Bank of Australia looks set to announce its interest rate decision at 3:30am GMT.

This is expected by a consensus of analysts to show no change from its current position of 0.75%, and no change is expected right now.

During the daytime, a European producer price index for October will be released at 10am GMT.

This is expected to show a month on month change from +0.1%, where it currently stands, to -0.1%.

On Wednesday, a meeting of the Eurogroup – which includes various leaders including the finance minister from each European member state as well as the Europe-wide commissioner for economic and monetary affairs – will occur.

At 12:30am GMT in Australia, there will be a gross domestic product release covering Q3 of 2019.

This looks set to show no quarter on quarter change from its previous position of 0.5%.

At 9am GMT, there’ll be a Markit services purchasing managers’ index release covering November across the whole of Europe.

This is predicted show a change from 51.5 to 51.8.

In terms of central banking activity, the Bank of Canada will release its new interest rate decision at 3pm GMT.

According to analysts, this is set to show no change from its previous position of 1.75%.

At 4:15pm GMT, there will be a press conference held by senior figures from the Bank to explain their decision.

The day will be brought to a close by a range of releases from Japan.

Foreign bond investment will be in the spotlight at 11:50pm GMT, for the dates around 29th November.

Information on foreign investment in Japanese stocks for a similar period will also be released then.

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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