Preview of next week: what’s on for forex traders?

David Hobart

As this foreign exchange trading week begins to draw to an end, looking ahead to next week is a good idea.

Over the weekend, there will be some political action which could affect euro traders.

Spain will hold its parliamentary elections, and these hold the potential to be somewhat fraught due to ongoing concerns about the Catalan independence movement.

Sunday, there will also be a bank lending release from Japan, covering October.

This release, which is scheduled to occur at 11:50pm GMT, is expected to show a year on year change from 2% to 1.8%.

The Bank of Japan will release its summary of opinions at 11:50pm GMT.

This will cover predictions made by the Bank for future inflation trajectories and other economic changes.

Monday, there is likely to be a widespread slowdown in international trading volumes due to public holidays to mark the anniversary of the end of the First World War.

Canada, France and the United States will all close their banks.

Elsewhere, China will release some details of its foreign direct investment interests for October – calculated on a year to date basis. Year on year, this was last recorded at 6.5%.

In Britain, manufacturing production figures for September will be out at 9:30am GMT.

This is expected to show a change from -0.7% to +0.6%.

Industrial production figures for September will also be out of Britain at 9:30am GMT.

These are predicted to show a month on month change from -0.6% to -0.4%.

British preliminary gross domestic product information will also come out at this time.

This is likely to show no quarter on quarter change from its current position of -0.2%.

This will cover Q3 of 2019.

Looking ahead to Tuesday of next week, more central bank inflation expectations will be released – this time from the Reserve Bank of New Zealand, which will bring out its predictions for Q4 of 2019 at 2am GMT.

Germany will be in the spotlight at 10am GMT, when the ZEW survey covering economic sentiment in November will be out.

This is forecast to show a slight change from -22.8 to -22.7.

On Wednesday, the main event will be the interest rate decision of the Reserve Bank of New Zealand.

It is not currently clear in the minds of analysts which way the Bank will choose to go, if any moves occur at all.

The rate currently rests at 1%.

The announcement will be made at 1am GMT and is set to be followed by a press conference at 2am GMT.

Germany’s harmonised index of consumer prices will be out at 7am GMT.

This is expected to show no year on year change from its current position of 0.9%.

A non-monetary policy meeting of the European Central Bank is due to occur at 8am GMT.

Britain’s core consumer price index will be released at 9:30am GMT.

This is predicted to show a year on year change from 1.7% to 1.6% for the month of October.

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