What’s on in the forex trading world this weekend and next week?

David Hobart

As one foreign exchange trading week reaches its Friday end date, it’s time to look ahead to what’s happening over the weekend and next week in the forex markets.

Firstly, the closing hours of Friday will set the scene for what’s to come.

This afternoon will see a retail sales control group data release from the US, covering October.

This is expected to show a change from 0% to 0.3% when it comes out at 1:30pm GMT.

The Bank of Canada’s Timothy Lane, who serves as its deputy governor, will speak at 1:30pm GMT.

Next up, there will be an industrial production figure for October, also from the US.

This is forecast to show no month on month change from -0.4%, at which it was last recorded.

The final major event on Friday will be a speech from the president of the German Bundesbank.

Dr. Jens Weidmann will speak alongside the video journalist Tilo Jung at 5pm GMT.

Looking ahead to the weekend, the main event will be a British house price index for Rightmove.

This is due to come out just after midnight on Saturday and will cover the month of November.

On a month on month basis this was last recorded at 0.6% – although on a year on year basis it was last recorded at -0.2%.

Monday of next week, there will be a financial stability review out of Europe at 9am GMT.

The German Bundesbank will once again be in the spotlight at 10am GMT when it releases its monthly report.

In the US, the housing market index is released from the National Association of Home Builders at 3pm GMT, covering the month of November.

This is predicted to hold firm at 71, where it was last recorded.

Later in the day, a speech from Christopher Kent – who is the assistant governor, economic at the Reserve Bank of Australia.

This will be followed after midnight on Tuesday by a set of meeting minutes from the last meeting of the Reserve Bank of Australia.

Later Tuesday, there will be an industrial trends survey out of the UK.

It will be conducted by the Confederation of British Industry and will focus on orders in November.

Month on month, it is expected to show a change from -37 to -28.

The Bank of Canada’s Carolyn A. Wilkins, who is senior deputy governor, is set to speak at 5:20pm GMT.

The day will be rounded off by a Japanese imports and exports release for October, which is due out at 11:50pm GMT.

Year on year, imports are predicted to show a change from -1.5% to -2.8%.

Exports, meanwhile, are set to go from -5.2% to -4%.

On Wednesday morning, the People’s Bank of China will unveil its latest monetary policy – and traders are expected to keep a close eye on this given China’s recent performances in the global markets.

Its interest rate is forecast to remain firm at 4.2%, where it was last recorded.

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.

David Hobart
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