Friday and the Weekend in the Forex Markets: a Quick Guide

David Hobart

Now that the foreign exchange week is drawing to a close, it’s time to see what’s happening today and over the weekend.

Friday will be a relatively busy day in the markets.

All day there will be a meeting of the Eurogroup, which sees the president of the European Central Bank meet with finance ministers from each country which uses the euro.

No doubt, yesterday’s interest rate decision by the Central Bank will be on the agenda, as will Brexit and other pressing concerns.

At lunchtime, a series of major US releases will be announced.

Retail sales excluding cars will be out at 12.:30pm GMT, covering the month of August.

This is expected to show a month on month change from 1% to 0.1%.

Overall retail sales including cars for the same month are expected to be released at 12:30pm GMT.

This is expected to show a month on month change from 0.7% to 0.2%.

The retail sales control group for August will be out at 12:30pm GMT too.

This is expected to show a change from 1% to 0.3%.

Import price index data for the US in August will be out at 12:30pm GMT.

Month on month, this is due to show a change from 0.2% to -0.4%.

The export price index for August will be out then too.

Year on year, this was last recorded at -0.9%.

At 2pm, the final major US release of the week will be out.

The preliminary Michigan consumer sentiment index for September is expected to reveal insights into consumer activity, and their willingness to make transactions.

This is expected to change from 89.8 to 90.9.

On Saturday, there may be some slowdown in economic activity in Switzerland due to the Federal Fast which takes place there all day.

On Sunday, a house price data release from the UK is expected to come out at 11pm GMT.

The Rightmove house price index for September was last recorded at -1% month on month.

Year on year, however, it was last recorded at 1.2%.

Looking ahead to Monday, there will be an economic slowdown in Japan due to the Respect for the Aged day Bank Holiday.

Chinese retail sales data will be out at 2am GMT, covering the month of August.

Year on year, this is expected to show a change from 7.6% to 7.9%.

Italian consumer price index data for August will be out at 8am GMT.

Year on year, this is expected to hold firm at 0.5%.

The month on month figures, however, may have allowed recent political instability in the country to creep in.

This is expected to show a change from 0.5% to 0.1%.

On Tuesday, the first key event will be a set of minutes from the most recent meeting of the Reserve Bank of Australia.

These are due to be released at 1:30am GMT.

It will be followed at 5.45am GMT by economic forecasts from SECO, the Swiss State Secretariat for Economic Affairs.

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