Friday in the forex markets: what’s on the cards?

Denise Jackson

With the foreign exchange trading week now coming squarely to its end, it’s time to see what’s on the cards for Friday, the weekend and early next week.

Today (Friday) will see a range of economic calendar events, especially given that the Thanksgiving holiday came to an end yesterday.

The first major event will be a consumer confidence survey from the UK that is due to be released just after midnight at 12:01am GMT.

This will cover the month of November and is expected to show no change from the previous position of -14.

Next up will be a private sector credit release from Australia, covering the month of October.

This is expected to show a month on month change from 0.2%, where it was previously recorded, to 0.3%.

Japanese housing starts data for October is due out at 5am GMT, on an annualised basis.

This was last recorded at 897,000.

In Britain, the key release of the day will be the Nationwide housing prices index for November.

This is forecast to show a month on month change from 0.2% to 0.1%.

In Europe, German retail sales figures for October will be out at 7am GMT.

Year on year, these are expected to move from 3.4% to 3.5% – a slight, yet no doubt welcome, growth for the under-fire German economy.

French gross domestic product data for Q3 of 2019 will be out at 7:45am GMT.

On a quarter on quarter basis, this is expected to show no difference from 0.3% at which it was previously recorded.

Germany will continue to be in the spotlight later in the day, with November’s unemployment rate figures due out at 8:55am GMT.

These are due to show no change from their previous position of 5%.

At 10am GMT, there will be a preliminary core consumer price index release for November covering the whole of Europe.

This is predicted to show a year on year change from 1.1% to 1.2% – suggesting that prices in the European bloc are, no matter how marginally, rising.

This assumption is due to be reinforced at the same time by a non-core release, which is expected to show  a change from 0.7% to 0.9%.

The Europe-wide unemployment rate is due out at 10am – covering the month of October.

This is widely predicted to show no alteration from its current position, which is 7.5%.

At lunchtime, Canada will release its annualised gross domestic product figure for Q3 of 2019.

This is expected to show a fairly significant quarter on quarter drop from 3.7% to 1.2%, which could cause some concern among those who trade the Canadian dollar.

At the same time, there will be an industrial product price release, again from Canada, this time covering the month of October.

This is expected to show a change from -0.1% to 0.%.

Canadian gross domestic product information for September is due out at this time too.

Month on month, this is expected to hold steady in its previous position of 0.1%.

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