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Midweek point is here – but what’s still to come?

The middle of the foreign exchange trading week is now upon us, and there are lots of events to continue to watch out for.

Today (Wednesday), there will be a relatively quiet afternoon compared to later days this week. US import price index data for July will be out at 12.30pm GMT, and this is expected to show a month on month change from -0.9% to +0%.

Export prices for July are expected to show a change from -0.7% to 0%.

Looking ahead to Thursday, the Assumption Day holiday will cause a slowdown in euro trading due to bank closures in many major economies. These will include Spain, Italy and France.

Employment change data from Australia for July will be out at 1.30am GMT. This is expected to rise from 500 to 14,000. The country’s overall full time employment rate for the same month will be out at the same time. Analysts have not yet revealed a forecast for this metric, but it was last recorded at 21,100.

Japanese industrial production figures for June will be out at 4.30am GMT. These are expected to show no month on month change. They are also due to remain static year on year too at their previous position of -4.1%.

British retail sales figures for July will be out at 8.30am GMT. Month on month, these are expected to change from 1% to -0.2%. Excluding fuel, however, this metric is likely to change from +0.9% to -0.2%.

US retail sales data for July will be out at 12.30pm GMT. This is expected to show a month on month shift from 0.4% to 0.3%.

Initial jobless claims will be out at the same time, for the dates around August 9th. These are expected to move from 209,000 to 214,000. Continuing jobless claims are also due to reveal a rise, this time from 1,684,000 to 1,690,000.

Preliminary non-farm productivity figures for the second quarter of 2019 are a key look at the workings of the US labour markets and are predicted to show a change from -1.6% to +2%.

This will be followed by US industrial production figures for July, which are out at 1.15pm GMT. Month on month, this is forecast to show a change from 0% to 0.2%.

Information on foreign investment in Japanese stocks will be out at 11.50pm GMT to round off the day.

Friday is expected to also be a busy day. Housing starts data for July will be due out of the US at 12.30pm GMT and is expected to show a month on month change from 1,253,000 to 1,257,000.

Building permits information for the same month will be out. Month on month, this is due to show a change from -0.9% to -1.7%.

Traders of the Canadian dollar will be interested to see information on Canadian investment in foreign securities out at 12.30pm GMT. This will be out at the same time as the reverse, foreign portfolio investment in Canadian securities. Both of these will cover the month of June.

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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