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End of week round-up: forex market update

With the end of the week now well and truly here, it’s time to see what Friday is set to hold in the foreign exchange markets – and what’s coming up early next week.

A speech from the president of German Bundesbank, Jens Weidmann, will take place at 1pm GMT today.

This will be followed by a Canadian retail sales data release for September at 1:30pm GMT.

Month on month, this looks set to remain static at -0.1%.

In the US, the Michigan consumer sentiment index is expected to hold firm at 95.7.

This will be released at 3pm GMT.

In Japan, Labor Thanksgiving Day will take place.

This is due to begin at 3pm in the GMT time zone and will see banks close.

There’s nothing scheduled in on the economic calendar over this weekend.

On Monday, events will begin again when the Japanese leading economic index for September comes out at 5am GMT.

In Germany, the IFO will release its business climate data for Germany for November at 9am GMT.

This is expected to show a change from 94.6 to 95.

The Chicago Federal Reserve will release its national activity index for October at 12:30pm GMT.

This is predicted to show a change from -0.45 to -0.43.

Retail sales data from New Zealand will come out at 9:45pm GMT.

Quarter on quarter, this is expected to rise from 0.2% to 1.2%.

A speech from Guy Debelle, who is the assistant governor for financial markets at the Reserve Bank of Australia, will occur at 11:50pm GMT.

He will be speaking at the ACOSS National Conference in Canberra.

On Tuesday morning, a speech from Jerome Powell – who is the chair of the US Federal Reserve – will take place at midnight in the GMT time zone.

It will be followed by a speech from Philip Lowe, who is the governor of the Reserve Bank of Australia.

This will take place at 9:05am GMT.

A housing price index from the US, covering September, will be out at 2pm GMT.

This is forecast to hold firm at 0.2%.

New home sales data from the US for October will be out at 3pm GMT.

This is expected to show a change from 701,000 to 707,000.

A speech from the US Federal Reserve’s Lael Brainard, who sits on the Board of Governors of the Federal Reserve, will occur at 6pm GMT.

A Financial Stability Report from the Reserve Bank of New Zealand will come out at 8pm GMT.

A trade balance figure from New Zealand will be released at 9:45pm GMT, covering October.

On Tuesday morning, a speech from the Bank of Japan’s Makoto Sakurai – who is a member of the Bank’s board – will occur at 1:30am GMT.

French consumer confidence figures for November are due out at 7:45am GMT.

These are expected to hold firm at 104.

Data on durable goods orders, excluding transportation, for October will be out of the US at 1:30pm GMT.

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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