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What’s on this week: Tuesday forex updates

With the foreign exchange trading week now underway, it’s a good chance to assess what’s coming up tomorrow and across the rest of the week.

Today, there will be some mortgage approvals information for October out of the UK.

This was last recorded at 42,310, and the updated figure is set to arrive at 9:30am GMT.

Preliminary US wholesale inventories data for October will be out at 1:30pm GMT and is expected to show a change from -0.4% to -0.6%.

US housing price index information for September will be out at 2pm GMT.

Month on month, this is due to show no change from its previous position of 0.2%.

The Federal Reserve Bank of Richmond will release its manufacturing index for November at 3pm GMT.

This is expected to show a change from 8 to -1.

At 6pm GMT, the Federal Reserve’s Lael Brainard – who sits on its Board of Governors – will speak.

The Antipodean currencies will be in the spotlight later in the day as the Reserve Bank of New Zealand publishes its financial stability report at 8pm GMT.

Some trade data for the country will follow, and then the governor of the Reserve Bank – Adrian Orr – will speak at 10pm GMT.

Australia will dominate the first round of data releases at 12:30am GMT, when the country’s “construction work done” measure for Q3 of 2019 will be out.

This is expected to show a change from -3.8% to -1%.

Italian business confidence data for November will be released at 9am GMT.

It is expected that this will show a change from 99.6, at which it was previously recorded, to 99.8.

A speech from Philip Lane, who serves as an Executive Board member of the European Central Bank, will occur at 9:30am GMT.

Over in the US, several important releases are due out early in the afternoon.

Durable goods orders (excluding transportation) for October will be out at 1:30pm GMT, and this metric is forecast by analysts to show a change from -0.4% to +0.2%.

Core personal consumption expenditures for Q3 of 2019 will be out at this time too.

Quarter on quarter, this is predicted to show no change from 2.2%.

Preliminary gross domestic product prices for Q3 of the year will be out at 1:30pm GMT.

This is expected to show a change from 1.6% to 1.7%.

It will be a bumper afternoon for US data releases, with data on nondefense capital goods orders (excluding aircraft) due to come out at 1:30pm GMT as well.

This is set to show a shift from -0.6% to -0.3%.

Moving away from the many US releases scheduled, Japanese retail trade figures for October will be out as Wednesday comes to a close.

These are expected at 11:50pm GMT and are due to show a change from 7.1% to 0, covering October.

Data on large retailers’ sales for October will also be out then – and it is set to show a change from 10% to 1.2%.

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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