fbpx

Weekly Forex Market Forecasts for December 12th – December 16th

Key Fundamental Forex Events and Forecasts for the Coming Week

The following table lists the key economic data and other events that are due out during the week of December 12th – December 16th, with release times displayed for the GMT time zone.

The list also includes the current market consensus forecast for each event and indicates what sort of deviation might affect the forex market valuation of the indicated currency positively.

Technical Forecast and Levels to Watch for the Majors This Week

Tuesday, December 13th       

12:30am AUD HPI (2.6% expected, > good for currency)

2:00am CNY Industrial Production (6.1% expected)

2:00am CNY Fixed Asset Investment (8.3% expected)

9:30am GBP CPI (1.1% expected, > good for currency)

9:30am GBP PPI Input (-0.4% expected, > good for currency)

9:30am GBP RPI (2.1% expected, > good for currency)

10:00am EUR German ZEW Economic Sentiment (14.2 expected, > good for currency)

1:30pm USD Import Prices (-0.3% expected, > good for currency)

11:50pm JPY Tankan Manufacturing Index (10 expected, > good for currency)

11:50pm JPY Tankan Non-Manufacturing Index (19 expected, > good for currency)

Wednesday, December 14th

8:15am CHF PPI (-0.1% expected, > good for currency)

9:30am GBP Average Earnings Index (2.3% expected, > good for currency)

9:30am GBP Claimant Count Change (6.2K expected, < good for currency)

9:30am GBP Unemployment Rate (4.8% expected, < good for currency)

1:30pm USD Core Retail Sales (0.4% expected, > good for currency)

1:30pm USD PPI (0.1% expected, > good for currency)

1:30pm USD Retail Sales (0.3% expected, > good for currency)

1:30pm USD Core PPI (0.2% expected, > good for currency)

2:15pm USD Capacity Utilization Rate (75.1% expected, > good for currency)

2:15pm USD Industrial Production (-0.2% expected, > good for currency)

3:30pm USD Crude Oil Inventories (last -2.4M, > good for currency)

7:00pm USD FOMC Economic Projections (hawkish = good for currency)

7:00pm USD FOMC Statement (hawkish = good for currency)

7:00pm USD Federal Funds Rate (25 bps rise to <0.75% expected, > good for currency)

7:30pm USD FOMC Press Conference (hawkish = good for currency)

Thursday, December 15th

12:30am AUD Employment Change (17.6K expected, > good for currency)

12:30am AUD Unemployment Rate (5.6% expected, < good for currency)

8:00am EUR French Flash Manufacturing PMI (51.9 expected, > good for currency)

8:00am EUR French Flash Services PMI (51.8 expected, > good for currency)

8:30am CHF Libor Rate (unchanged at -0.75% expected, > good for currency)

8:30am CHF SNB Monetary Policy Assessment (hawkish = good for currency)

8:30am CHF SNB Press Conference (hawkish = good for currency)

8:30am EUR German Flash Manufacturing PMI (54.6 expected, > good for currency)

8:30am EUR German Flash Services PMI (55.0 expected, > good for currency)

9:00am EUR Flash Manufacturing PMI (53.9 expected, > good for currency)

9:00am EUR Flash Services PMI (53.9 expected, > good for currency)

9:30am GBP Retail Sales (0.2% expected, > good for currency)

12:00pm EUR Long Term Refinancing Operation (last 45.3B, < good for currency)

12:00pm GBP MPC Official Bank Rate Votes (0-0-9 expected, > good for currency)

12:00pm GBP Monetary Policy Summary (hawkish = good for currency)

12:00pm GBP Official Bank Rate Decision (unchanged at 0.25% expected, > good for currency)

12:00pm GBP Asset Purchase Facility (435B expected, < good for currency)

12:00pm GBP MPC Asset Purchase Facility Votes (0-0-9 expected, > good for currency)

1:30pm CAD Manufacturing Sales (0.7% expected, > good for currency)

1:30pm USD CPI (0.2% expected, > good for currency)

1:30pm USD Core CPI (0.2% expected, > good for currency)

1:30pm USD Philly Fed Manufacturing Index (9.1 expected, > good for currency)

1:30pm USD Weekly Initial Jobless Claims (last 258K, < good for currency)

1:30pm USD Current Account (-111B expected, > good for currency)

1:30pm USD Empire State Manufacturing Index (3.2 expected, > good for currency)

4:15pm CAD BOC Governor Poloz speaks (hawkish = good for currency)

Friday, December 16th

10:00am EUR Final CPI (0.6% expected, > good for currency)

1:30pm CAD Foreign Securities Purchases (12.35B expected, > good for currency)

1:30pm USD Building Permits (1.24M expected, > good for currency)

1:30pm USD Housing Starts (1.23M expected, > good for currency)

Technical Forecast and Levels to Watch for the Majors This Week

EURUSD: Mildly Lower

Resistance:

Initial: 1.0591/95, 1.0616, 1.0657, 1.0684/89, 1.0707/08, 1.0736, 1.0762/90, 1.0804/09, 1.0818/33, 1.0847/58, 1.0866, 1.0872/73, 1.0882/86, 1.0896, 1.0911/17, 1.0951/70, 1.0983/86, 1.0991/98, 1.1001/10, 1.1015/28, 1.1038/60, 1.1066/72, 1.1083, 1.1091/97, 1.1103/04, 1.1111/59, 1.1164/81, 1.1186/1.1204, 1.1211/21, 1.1233/36, 1.1244/83, 1.1294/1.1303, 1.1317/18, 1.1322/48, 1.1354/66, 1.1373/97, 1.1415/64, 1.1483, 1.1494/98, 1.1533, 1.1615, 1.1642, 1.1713, 1.1753, 1.1866/77, 1.1900/01, 1.1938, 1.1975, 1.2041, 1.2133, 1.2143, 1.2162/64, 1.2219, 1.2241/55, 1.2270/72, 1.2323/33, 1.2357/62, 1.2381/94, 1.2407/39, 1.2455, 1.2494/96, 1.2500/01, 1.2514/19, 1.2531, 1.2545, 1.2569/70, 1.2588/89, 1.2605, 1.2613, 1.2623/25, 1.2661/63, 1.2676, 1.2692/98, 1.2715, 1.2744/54, 1.2791/1.2805, 1.2815/21, 1.2834/79, 1.2900/04, 1.2919/21 and 1.2978/98.

Above: 1.3000/03, 1.3047, 1.3059/66, 1.3077, 1.3093/1.3109, 1.3126/30, 1.3152/65, 1.3172/77, 1.3187/1.3206, 1.3220/42, 1.3294/99, 1.3305/08, 1.3318/24, 1.3332/35, 1.3344/53, 1.3366, 1.3376/89, 1.3398/1.3416, 1.3432/44, 1.3451, 1.3473/82, 1.3489/1.3524, 1.3538, 1.3546/88, 1.3597, 1.3602/15, 1.3621/31, 1.3639/50, 1.3663/76, 1.3682/86, 1.3685/1.3710, 1.3714/16, 1.3731/39, 1.3748, 1.3758/74, 1.3784/98, 1.3807, 1.3810/20, 1.3824, 1.3832/36, 1.3845/54, 1.3864, 1.3875/78, 1.3888/92, 1.3905/14, 1.3937, 1.3947, 1.3966/69, 1.3993/1.4000, 1.4246, 1.4500/17, 1.4695 and 1.4939.

Support:                                 

Initial: 1.0565/68, 1.0551, 1.0517, 1.0504, 1.0499, 1.0461, 1.0206 and 1.0104.

Below: 0.9607/21, 0.9599, 0.9451, 0.9338, 0.8840, 0.8822/28, 0.8594 and 0.8562.

USDJPY: Higher

Resistance:

Initial: 115.85, 115.92, 116.10/14, 116.28, 116.50, 116.82/117.02, 117.23, 117.43, 117.52, 117.65/76, 117.93/99, 118.04/05, 118.23/45, 118.62/67, 118.85/97, 119.01/06, 119.21/28, 119.37/46, 119.61/65, 119.80 and 119.95.

Above: 120.00/10, 120.17/27, 120.34/47, 120.56, 120.62/65, 120.73/82, 121.02, 121.19/23, 121.27/38, 121.48/49, 121.62/68, 121.80/84, 121.96, 122.01, 122.22/30, 122.44, 122.60/68, 122.87, 123.12, 123.25, 123.42/49, 123.71/78, 123.95, 124.05, 124.11/14, 124.22, 124.35/38, 124.43/46, 125.06, 125.27, 125.40, 125.67/75, 126.17, 126.41, 126.90 and 135.19.

Support:

Initial: 115.56/58, 114.76/87, 114.55/65, 114.12, 113.98, 113.89, 113.79, 113.38, 113.12, 112.98, 112.30, 112.15, 112.01, 111.78/88, 111.60/66, 111.35/44, 110.97/111.03, 110.66, 110.58, 110.39/47, 110.26, 110.08, 109.89/90, 109.72, 109.53/54, 109.41/45, 109.10, 108.98, 108.71, 108.54, 108.42/46, 108.22/24, 108.00, 107.83/89, 107.62/66, 107.48, 107.38/39, 107.18, 107.05, 106.94, 106.72/82, 106.54, 106.31/36, 106.15/25, 105.70, 105.52/59, 105.41/43, 105.30/33, 105.18, 105.05, 104.83/91, 104.63/68, 104.47, 104.31/36, 104.07/26, 103.91/98, 103.82, 103.73/75, 103.54/58, 103.37/43, 103.30, 103.16, 102.92/103.08, 102.49/85, 102.33/40, 102.24/26, 102.13/14, 101.90/102.04, 101.60/83, 101.50/56, 101.41/45, 101.30/32, 101.08/27, 100.82/92, 100.75, 100.60/67, 100.38/48, 100.19/22, 99.93/100.09, 99.64/66, 99.53, 99.40, 99.25, 99.13/14, 98.84/99.00, 98.63/72, 98.48/53, 98.28, 98.20, 98.08, 97.75/83, 97.49/63, 96.90/97.05, 96.81, 96.65/70, 96.55/56 and 96.05.

Below: 95.79/80, 95.44, 94.90/95.07, 94.87, 94.55, 94.19, 94.05, 93.76, 93.78 93.68, 93.50, 93.17, 92.77/95, 92.14/30, 91.19, 90.85, 90.20/32, 89.40/66, 88.05, 87.95/99 and 87.79.

GBPUSD: Mildly Higher

Resistance:

Initial: 1.2673, 1.2736, 1.2774, 1.2794, 1.2849, 1.2863/79, 1.2902, 1.2914, 1.2944/45, 1.2955, 1.2991/96, 1.3020, 1.3033, 1.3056/63, 1.3078/79, 1.3093, 1.3104, 1.3119/20, 1.3137, 1.3204, 1.3227, 1.3238, 1.3272/89, 1.3300, 1.3314, 1.3339/46, 1.3352, 1.3371, 1.3415, 1.3444, 1.3477/80, 1.3501, 1.3532, 1.3561, 1.3653, 1.3683, 1.3835/40, 1.3853, 1.3877, 1.4000/11, 1.4041, 1.4052/56, 1.4079, 1.4089, 1.4108, 1.4130, 1.4148, 1.4170/79, 1.4232/34, 1.4247/51, 1.4298, 1.4321/25, 1.4331, 1.4345/51, 1.4361, 1.4374, 1.4385, 1.4396, 1.4406/18, 1.4432/44, 1.4451/72, 1.4513, 1.4529/34, 1.4546, 1.4581, 1.4603, 1.4615, 1.4634/37, 1.4659/69, 1.4692/98, 1.4725/38, 1.4768, 1.4785, 1.4812, 1.4830, 1.4856, 1.4868, 1.4872, 1.4884, 1.4913, 1.4927, 1.4943/50, 1.4966/67, 1.4985/88, 1.5007, 1.5013/17, 1.5026/33, 1.5053/56, 1.5072/77, 1.5081, 1.5092, 1.5101/06, 1.5123, 1.5130/36, 1.5152/64, 1.5173/80, 1.5185/87, 1.5195/99, 1.5208/23, 1.5236/41, 1.5260/68, 1.5276, 1.5293, 1.5304/05, 1.5313/51, 1.5382/84, 1.5392, 1.5403/40, 1.5457/58, 1.5467, 1.5476/85, 1.5496/99, 1.5505/08, 1.5514/20, 1.5529/33, 1.5538/51, 1.5561/68, 1.5584/96, 1.5601/19, 1.5624/27, 1.5646, 1.5656/58, 1.5669/74, 1.5683/92, 1.5714/17, 1.5725, 1.5750, 1.5763, 1.5775/89, 1.5803/07, 1.5817, 1.5825, 1.5844, 1.5853, 1.5874/77, 1.5886/93, 1.5900/27, 1.5948/61, 1.5975/94, 1.6001/08, 1.6051/66, 1.6071/83, 1.6096/98, 1.6109/21, 1.6130/36, 1.6155, 1.6161, 1.6177/83, 1.6195/98, 1.6204/16, 1.6222/26, 1.6237/46, 1.6251/62, 1.6280/90, 1.6298/1.6309, 1.6336, 1.6348, 1.6357, 1.6376, 1.6380/83, 1.6394, 1.6400, 1.6415/18, 1.6441/44, 1.6458/65, 1.6484, and 1.6496.

Above: 1.6516, 1.6524, 1.6534, 1.6548, 1.6576/86, 1.6592, 1.6611/17, 1.6624, 1.6640/56, 1.6665/67, 1.6683, 1.6692/98, 1.6716/24, 1.6730/37, 1.6745, 1.6755, 1.6765/68, 1.6777, 1.6785, 1.6800/02, 1.6812, 1.6819/22, 1.6831/44, 1.6874/87, 1.6902/09, 1.6919/20, 1.6951, 1.6960, 1.6995, 1.7000, 1.7010, 1.7035, 1.7042/51, 1.7058/62, 1.7084, 1.7094/99, 1.7107, 1.7130, 1.7167, 1.7176/78, 1.7190 and 1.7440.

Support:

Initial: 1.25548/6, 1.2530, 1.2511, 1.2476, 1.2385, 1.2351, 1.2332, 1.2317/24, 1.2301, 1.2271, 1.2260, 1.2226, 1.2170, 1.2131/35, 1.2113, 1.2081/88, 1.1991, 1.1954 and 1.1844.

Below: 1.0520.

AUDUSD: Higher

Resistance:

Initial: 0.7468/76, 0.7486/92, 0.7497/0.7509, 0.7520/25, 0.7532, 0.7544/59, 0.7565/72, 0.7580/98, 0.7607/09, 0.7614/18, 0.7625/36, 0.7642/48, 0.7653/57, 0.7663/81, 0.7688/96, 0.7700/10, 0.7718/25, 0.7731/40, 0.7748/64, 0.7772/84, 0.7791/92, 0.7817, 0.7825, 0.7834/88, 0.7912, 0.7919, 0.7950, 0.7988, 0.8008, 0.8020, 0.8024/34, 0.8051, 0.8066/87, 0.8106, 0.8121, 0.8138, 0.8156, 0.8172, 0.8203/14, 0.8223, 0.8233, 0.8294, 0.8307, 0.8375, 0.8416, 0.8473/84, 0.8512, 0.8541, 0.8578, 0.8590, 0.8641, 0.8651/62, 0.8693, 0.8702, 0.8729, 0.8747/54, 0.8760/73, 0.8784, 0.8812, 0.8819/25, 0.8842/52, 0.8857/61, 0.8869, 0.8887/97, 0.8906/12, 0.8918/20, 0.8923/36, 0.8951/57, 0.8967/69, 0.8981/87, 0.8994/0.9010, 0.9035, 0.9041, 0.9042/48, 0.9054/57, 0.9061/66, 0.9072/79, 0.9102, 0.9110/19, 0.9127/37, 0.9147, 0.9162/67, 0.9179/89, 0.9200/08, 0.9214/26, 0.9232/74, 0.9286/94, 0.9304, 0.9311, 0.9328/34, 0.9343/53, 0.9359, 0.9386/0.9410, 0.9420/24, 0.9428/33, 0.9440/47, 0.9455/57, 0.9469 and 0.9483/86.

Above: 0.9500, 0.9524/27, 0.9536/42, 0.9571, 0.9585, 0.9592, 0.9620, 0.9640, 0.9664, 0.9676, 0.9689/96, 0.9710, 0.9732, 0.9757, 0.9791/94, 0.9841/96, 0.9900, 0.9925/83, 1.0000/18, 1.0052, 1.0099/1.0100, 1.0114/17, 1.0148/51, 1.0165/77 and 1.0181/82.

Support:

Initial: 0.7452, 0.7440/46, 0.7413/20, 0.7405/07, 0.7393, 0.7362/79, 0.7337/43, 0.7310/26, 0.7303, 0.7284, 0.7295/0.7303, 0.7279/84, 0.7265/71, 0.7241/58, 0.7234, 0.7221/23, 0.7214/15, 0.7203/07, 0.7197, 0.7181/85, 0.7175, 0.7152/61, 0.7140/48, 0.7108, 0.7098, 0.7083, 0.7062/69, 0.7047, 0.7030/34, 0.7021/24, 0.7001/02, 0.6945, 0.6936/37, 0.6918, 0.6907, 0.6852, 0.6826, 0.6773, 0.6753, 0.6697, 0.6670 and 0.6555.

Below: 0.6339/41, 0.6317, 0.5804, 0.5795, 0.5730, 0.5645, 0.5490, 0.5399, 0.5228, 0.4815 and 0.4773.

USDCAD: Mildly Higher

Resistance:

Initial: 1.3129/39, 1.3143/47, 1.3161/66, 1.3174, 1.3180/90, 1.3194/99, 1.3212/17, 1.3233/35, 1.3241/53, 1.3260/64, 1.3270/83, 1.3295, 1.3305/16, 1.3323/25, 1.3352/56, 1.3367/77, 1.3385/99, 1.3404, 1.3415, 1.3432/34, 1.3456/64, 1.3504, 1.3524, 1.3534/36, 1.3563, 1.3586/88, 1.3606, 1.3638, 1.3652/61, 1.3672, 1.3687, 1.3756, 1.3780, 1.3813/14, 1.3845, 1.3858, 1.3872, 1.3910, 1.3939/46 and 1.3992/1.4015.

Above: 1.4035, 1.4101, 1.4113, 1.4195, 1.4277, 1.4324, 1.4430, 1.4605/24, 1.4689/93, 1.4894, 1.5024, 1.5065, 1.5150, 1.5182, 1.5322, 1.5632, 1.5830, 1.5855, 1.6054 and 1.6196.

Support:

Initial: 1.3115/19, 1.3101, 1.3097/99, 1.3084/89, 1.3079, 1.3062/69, 1.3047/54, 1.3037/39, 1.3021/28, 1.2994/1.3014, 1.2981/89, 1.2964/75, 1.2950/57, 1.2935, 1.2922, 1.2900/14, 1.2884, 1.2875, 1.2860/64, 1.2856, 1.2830/36, 1.2821/22, 1.2797/98, 1.2770/78, 1.2757/62, 1.2742, 1.2716, 1.2693/96, 1.2677, 1.2654/62, 1.2631, 1.2625, 1.2615, 1.2613, 1.2609, 1.2585/92, 1.2563, 1.2537, 1.2497, 1.2471, 1.2456/61, 1.2448/58, 1.2436, 1.2421, 1.2406, 1.2386, 1.2378, 1.2361/66, 1.2351, 1.2333, 1.2287, 1.2244, 1.2126, 1.2091, 1.2045, 1.2030, 1.2016, 1.1976, 1.1933, 1.1886, 1.1872/75, 1.1841, 1.1802, 1.1794/96, 1.1723/29, 1.1670/72, 1.1666, 1.1547/90, 1.1475, 1.1457/65, 1.1443/47, 1.1391/92, 1.1384, 1.1331/39, 1.1310/12, 1.1289/95, 1.1263/77, 1.1254, 1.1221/29, 1.1190/94, 1.1168/73, 1.1158, 1.1152, 1.1141, 1.1116/32, 1.1102/09, 1.1097/99, 1.1081/89, 1.1069/70, 1.1030/53, 1.0982/1.1001, 1.0962/66, 1.0954/59, 1.0941/45, 1.0934, 1.0925/28, 1.0915, 1.0903/09, 1.0894, 1.0873/86, 0852/59, 1.0849, 1.0839/40, 1.0820/27, 1.0813, 1.0793/96, 1.0742/85, 1.0736, 1.0726, 1.0717, 1.0702/09, 1.0693, 1.0668/79, 1.0646/60, 1.0619/29, 1.0608,1.0580/87, 1.0567/71, 1.0558/59, 1.0546, 1.0519/22 and 1.0506.

Below: 1.0496/1.0502, 1.0471/87, 1.0459, 1.0441/44, 1.0414/18, 1.0401/04, 1.0390/92, 1.0379, 1.0355/68, 1.0333, 1.0324, 1.0309/12, 1.0283/1.0305, 1.0270/76, 1.0262, 1.0244/55, 1.0233/35, 1.0199/1.0226, 1.0172/82, 1.0165, 1.0151/56, 1.0148, 1.0128/42, 1.0103/05, 1.0081/99, 1.0050/56, 1.0029/34, 1.0018, 1.0012, 0.9993/98, 0.9984, 0.9969, 0.9945/60, 0.9931, 0.9922, 0.9902/07, 0.9899, 0.9858, 0.9814/26, 0.9724/99, 0.9686, 0.9645, 0.9631, 0.9525, 0.9445 and 0.9405.

NZDUSD: Higher

Resistance:

Initial: 0.7138/47, 0.7162/69, 0.7174/83, 0.7195/0.7222, 0.7227/38, 0.7251/54, 0.7265, 0.7273/76, 0.7296, 0.7304/05, 0.7310/15, 0.7319/22, 0.7328/42, 0.7357/62, 0.7367/68, 0.7378, 0.7394, 0.7402/04, 0.7419/20, 0.7433, 0.7440/47, 0.7455/59, 0.7467, 0.7483/0.7500, 0.7528/55, 0.7585/95, 0.7609, 0.7605/59, 0.7679/97, 0.7705/35, 0.7751/58, 0.7760/64, 0.7763, 0.7779/83, 0.7791/95, 0.7804/08, 0.7819/29, 0.7838/48, 0.7856/57, 0.7863/78, 0.7888, 0.7903/06, 0.7925/37, 0.7967, 0.7989/0.8013, 0.8030, 0.8040, 0.8049/60, 0.8075/82, 0.8100/09, 0.8114/37, 0.8147/53, 0.8160/76, 0.8186, 0.8195/97, 0.8204/14, 0.8221/41, 0.8250/55, 0.8263, 0.8268/71, 0.8280, 0.8285/87, 0.8291/95, 0.8302/16, 0.8322/66, 0.8376, 0.8389, 0.8406, 0.8413, 0.8421/61, 0.8472/79, 0.8487/89 and 0.8499.

Above: 0.8504/18, 0.8523/37, 0.8542/53, 0.8560/61, 0.8571/78, 0.8584/90, 0.8602/05, 0.8633/41, 0.8647/53, 0.8660/67, 0.8671/74, 0.8693/0.8700, 0.8712/18, 0.8734, 0.8744, 0.8764/77, 0.8789, 0.8792, 0.8821, 0.8834 and 0.8840.

Support:

Initial: 0.7102/12, 0.7085/91, 0.7076/79, 0.7065/69, 0.7034/59, 0.7014, 0.6996, 0.6978/84, 0.6949/70, 0.6923, 0.6890/95, 0.6881, 0.6872/76, 0.6857/63, 0.6828/45, 0.6804/21, 0.6790, 0.6784, 0.6771/73, 0.6750/60, 0.6734/38, 0.6720/24, 0.6706/13, 0.6693/96, 0.6666/85, 0.6639/41, 0.6616/20, 0.6584/0.6609, 0.6585, 0.6571/73, 0.6556/63, 0.6538/43, 0.6529, 0.6519 and 0.6504/07.

Below: 0.6491/97, 0.6466, 0.6447/55, 0.6435, 0.6423/27, 0.6415, 0.6400/07, 0.6396, 0.6379/88, 0.6345, 0.6287, 0.6269, 0.6254, 0.6248, 0.6242, 0.6234, 0.6022, 0.5991, 0.5926, 0.5914, 0.5682, 0.5673, 0.5608, 0.5637/41, 0.5480 and 0.5324.

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.


Popular Brokers