What’s on next week in the forex markets? A look ahead

Denise Jackson

Now that one foreign exchange week is coming to its penultimate day, it’s wise to think about what might be on the cards as we head into next week.

Monday 23rd September, there will be a number of scheduled events on the economic calendar, including a bank holiday in Japan.

Banks will be closed there due to Autumnal Equinox Day, which could cause a slowdown in Asian trading.

At 7:30am GMT, Europe will wake up to a preliminary manufacturing purchasing managers’ index for September which will be out of Germany.

It is expected to show the index for the major European economy going down from 43.5 to 43.

This could be interpreted as a further sign of instability in the country’s wobbling economy.

This will be followed at 10am GMT by a monthly report from the German Bundesbank, which could hold further clues.

For those interested in the wider European manufacturing picture, the preliminary Markit PMI composite for September covering the whole of the Eurozone will be out at 8am GMT.

This is expected to go from 51.9 to 51.2.

The US will be in the manufacturing spotlight at 1:45pm GMT.

Its preliminary manufacturing purchasing managers’ index, again from Markit, will be out then.

Its figure is expected to show a drop too, although smaller than both Germany’s and Europe’s.

It is forecast to go from 50.3 to 50.1.

Looking to Tuesday, a speech from the governor of the Bank of Japan, Haruhiko Kuroda, will take place at 5:35am GMT.

This is likely to focus heavily on the Bank of Japan’s interest rate decision, which is coming this week.

French business climate data for September will be out at 6:45am GMT.

This is expected to show a slight drop from 102 to 101.

More central banker speeches are pencilled in for later in the day.

Philip Lowe, who governs the Reserve Bank of Australia, is due to speak at 9:55am GMT.

Consumer confidence figures will be out of the US at 2pm, although there is currently no prediction or indication of what they might say.

This will follow a US housing price index release covering July, which is expected a little earlier at 1pm GMT.

This is expected to show a move from 0.2% to 0.3%.

The minutes of the meeting of the Bank of Japan will be released at 11:50pm GMT.

Shortly after that, a speech from Takako Masai, who sits on the Bank of Japan’s board, will take place.

This is scheduled for 1:30am GMT.

The Reserve Bank of New Zealand will release its interest rate decision at 2am GMT.

This is expected to show no change from its current position of 1%.

On Thursday, annualised gross domestic product figures for the Q2 of 2019 will be out of the US.

These are expected to show no change from 2%.

The day will be rounded off by the Tokyo consumer price index, excluding fresh food, and covering September.

Year on year, this was last recorded at 0.7%.

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Denise Jackson
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