The remaining week in forex: what’s coming up?

Chris Lee

With four whole days of this foreign exchange trading week still to come, there’s plenty for traders to keep their eyes peeled for.

Today (Tuesday), there will be something of a gentle day in the forex markets, with few major events scheduled.

The first minor event will be the European producer priceindex for October, which is expected to be released at 10am.

Year on year, this is expected to show a change from -1.2% to -1.9%.

Month on month, it is expected to go from 0.1% to 0%.

The US Redbook index for the dates around 29th November is due out at 1:55pm GMT.

Year on year, this measure – which looks at same-store sales growth – was last recorded at 4.3%.

Month on month, it was last seen at -0.4%.

Benoît Cœuré, who sits on the European Central Bank’s Executive Board, will speak at 5:30pm GMT.

A meeting of the Eurogroup of finance ministers will take place on Wednesday and is expected to stretch across the course of the whole day.

Australian gross domestic product information for Q3 of 2019 will be out at 12:30am GMT on Wednesday and is due to show a year on year change from 1.4% to 1.7%.

US employment change data will be out at 1:15pm GMT, covering the month of November.

This is expected to show a change from 125,000 to 140,000.

A speech from Randal Keith Quarles, who is a member and vice chair for supervision on the Federal Reserve’s Board of Governors, will occur at 3pm GMT.

At the same time, the Bank of Canada will release its interest rate decision.

This is expected to hold firm at 1.75%, although there may be some clues as to the direction of future monetary policy when a press conference takes place at 4:15pm GMT.

Australian import and export data for October will come out at 12:30am GMT.

There will be a speech from Yutaka Harada, who sits on the board of the Bank of Japan, at 1:30am GMT.

The Bank of Canada’s Timothy Lane, who serves as its deputy governor, will be out at 1pm GMT.

In the US, continuing jobless claims for the dates around 22nd November will be out at 1:30pm GMT, and are expected to show a change from 1,640,000 to 1,650,000.

Initial claims for the following week are forecast to show a change from 213,000 to 215,000.

Overall Japanese household spending for October will be released at 11:30pm GMT.

This is expected to show a change from 9.5% to -3%.

On Friday, German industrial production figures for October will be in the spotlight when they come out at 7am GMT.

These are widely expected to show a month on month change from -0.6% to +0.1%.

A British house price index for November will be out at 8:30am GMT and is set to show a month on month change from -0.1% to -0.7%.

A meeting of the Organisation of the Petroleum Exporting Countries (OPEC) will kick off at 9am GMT in Vienna.

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.

Chris Lee
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