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What’s on the horizon on the foreign exchange calendar next week?

The forex calendar is looking busy next week, and there’s a lot for traders to ensure they keep their eyes on.

Monday, there will be a few bank closures due to public holidays in North America. Labor Day will close institutions in North America, so trading of the US and Canadian dollars may well be slower than usual.

Chinese manufacturing PMI data for August will be out at 1:45am GMT. This is expected to show a change from 49.9 to 49.8.

Spanish Markit manufacturing PMI data for August will be out at 7:15am GMT. This was last recorded at 48.2.

Europe-wide Markit manufacturing PMI data for August will be out shortly afterwards at 8am GMT. This is expected to show an overall downward trend from 47.0 to 46.4 – a move likely to be interpreted as another sign of problems with the European economy.

Central banks will be well and truly back in the spotlight at 4:30am GMT on Tuesday when the Reserve Bank of Australia announces its interest rate decision. It is expected that policymakers in the country will hold their rates at 1%, which is where they were previously seen.

There will also be a speech at 7am GMT from Christine Lagarde, who has been nominated as the next president of the European Central Bank.

Lots will already have taken place by the time the afternoon rolls around, and that will be relatively slow in comparison. ISM Manufacturing PMI data for August will be out of the US at 2pm GMT. This is expected to show a change from 51.2 to 51.4.

Australia’s gross domestic product data for the second quarter of 2019 will be out at 1:30am GMT. Quarter on quarter, this will show a change from 0.4% to 0.5% according to analysts.

The Bank of Canada will be the next big central banking institution to make its interest rate decision. The announcement is expected around 2pm GMT.

Its interest rate is currently at 1.75%. It will follow up its decision with a press conference at 3:15pm GMT.

On Thursday, Swiss gross domestic product data for the second quarter of the year will be out at 5:45am GMT. This is expected to show a quarter on quarter change from 0.6% to 0.4%.

Initial jobless claims for the dates around August 30th will be out of the US at 12:30pm GMT. These were last recorded at 215,000.

Continuing claims for the previous week will be out at the same time. These were last recorded at 1,698,000.

ISM’s non-manufacturing purchasing managers’ index for August will also be out of the US in the afternoon, this time at 2pm GMT.

It is expected that this will show a change from 53.7 to 54.1.

On Friday, Japan’s preliminary leading economic index for July will be out at 5am GMT. This was last noted at 93.3.

Japan’s preliminary coincident index for July will be out at the same time. This was last noted at 100.4.

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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