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Tuesday in the forex markets: what’s going on?

The foreign exchange markets are as busy as ever this week, and there’s plenty in the calendar today (Tuesday) and beyond.

Today, there will be a range of North American data releases throughout the afternoon.

Canadian building permits information for July will be out at 12:30pm GMT and is expected to show a month on month change from -3.7% to +2.3%.

The US Redbook index, which monitors store sales growth figures, will be out at 12:55pm GMT.

Year on year, this index was last recorded at 6.5%.

US job openings data for July from JOLTS, which is the Job Openings and Labor Turnover Survey, will be out at 2pm GMT.

It is expected that this will show a change from 7,348,000 to 7,311,000.

New Zealand’s visitor arrivals data for July will be out at 10:45pm GMT.

This was last recorded at 0.6% year on year.

Looking ahead to tomorrow (Wednesday), MBA mortgage applications data in the US for the dates around 6th September will be out at around 11am GMT.

This was last recorded at -3.1%.

The US producer price index for August will also be out at 12:30pm GMT.

Year on year, this is forecast to show a change from 2.1% to 2.2% – without food and energy factored in.

Month on month, it is expected that this will show a change from 0.2% to 0.1% – including food and energy.

Later in the day, the same index will be released in Japan.

Its producer price index for August is due to show a year on year change from -0.6% to -0.8%, while on a month on month basis it is expected to move from 0% to -0.2%.

Japanese machinery orders data for July will be out at 11:50pm GMT.

It is expected that this will show a change from 13.9% to -9.9%.

On Thursday, Australian consumer inflation expectations for September will be out at 1am GMT.

These were last recorded at 3.5%.

Data on the country’s investment lending for homes will be out at 1:30am GMT.

This will cover the month of July and was last recorded at 0.5%.

German consumer price index data for August will be out at 6am GMT.

This is expected to show no change month on month from -0.2%.

Year on year, it is also expected to remain firm – this time at 1.4%.

Industrial production figures covering the whole of Europe will be released at 9am GMT.

Year on year, this July-related data is expected to show a dramatic rise from -2.6% to -1.3% – suggesting that there may well be hope for a Eurozone economy which has been considered to be flagging in recent months.

This will most likely be too late to feed into the decision of the European Central Bank to change interest rates.

This decision is expected at 11:45am GMT, although there is still no firm consensus on what the ECB will choose to do.

The deposit rate decision will be out at the same time, and this is expected to show a change from -0.4% to -0.5%.

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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