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 7th – December 11th, 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
Monday, December 7th
12:30am AUD ANZ Job Advertisements (last 0.3% expected, > good for currency)
8:00am CHF Foreign Currency Reserves (last 551B expected, > good for currency)
Tentative JPY BOJ Governor Kuroda speaks (hawkish = good for currency)
All Day EUR Eurogroup Meetings (hawkish = good for currency)
3:00pm GBP BOE Governor Carney speaks (hawkish = good for currency)
11:50pm JPY Current Account (1.53T expected, > good for currency)
11:50pm JPY Final GDP (0.1% expected, > good for currency)
Tuesday, December 8th
12:30am AUD NAB Business Confidence (last 2 expected, > good for currency)
Tentative CNY Trade Balance (395B expected)
All Day EUR Italian Bank Holiday
8th-9th GBP Halifax HPI (0.3% expected, > good for currency)
9:30am GBP Manufacturing Production (-0.1% expected, > good for currency)
All Day EUR ECOFIN Meetings (hawkish = good for currency)
1:30pm CAD Building Permits (last -6.7% expected, > good for currency)
3:00pm GBP NIESR GDP Estimate (last 0.6% expected, > good for currency)
3:00pm USD JOLTS Job Openings (5.59M expected, > good for currency)
5:50pm CAD BOC Governor Poloz speaks (hawkish = good for currency)
11:30pm AUD Westpac Consumer Sentiment (last 3.9% expected, > good for currency)
11:50pm JPY Core Machinery Orders (-1.5% expected, > good for currency)
Wednesday, December 9th
12:30am AUD Home Loans (-1.0% expected, > good for currency)
1:30am CNY CPI (1.4% expected)
1:30am CNY PPI (-5.9% expected)
3:30pm USD Crude Oil Inventories (last 1.2M expected, > good for currency)
8:00pm NZD Official Cash Rate (2.50% expected, > good for currency)
8:00pm NZD RBNZ Rate Statement (hawkish = good for currency)
8:00pm NZD RBNZ Monetary Policy Statement (hawkish = good for currency)
8:05pm NZD RBNZ Press Conference (hawkish = good for currency)
11:50pm JPY BSI Manufacturing Index (12.1 expected, > good for currency)
Thursday, December 10th
12:00am AUD MI Inflation Expectations (last 3.5% expected, > good for currency)
12:30am AUD Employment Change (-10.0K expected, > good for currency)
12:30am AUD Unemployment Rate (6.0% expected, < good for currency)
8:30am CHF Libor Rate (-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)
9:30am GBP Trade Balance (-9.8B expected, > good for currency)
12:00pm GBP MPC Official Bank Rate Votes (1-0-8 expected, > rate good for currency)
12:00pm GBP Monetary Policy Summary (hawkish = good for currency)
12:00pm GBP Official Bank Rate (0.50% expected, > good for currency)
12:00pm GBP Asset Purchase Facility (375B expected, > good for currency)
12:00pm GBP MPC Asset Purchase Facility Votes (0-0-9 expected, < facility good for currency)
1:30pm CAD NHPI (0.1% expected, > good for currency)
1:30pm USD Weekly Initial Jobless Claims (266K expected, < good for currency)
1:30pm USD Import Prices (-0.8% expected, > good for currency)
6:00pm EUR German Buba President Weidmann speaks (hawkish = good for currency)
Friday, December 11th
10:15am EUR Targeted LTRO (last 15.5B expected, < good for currency)
1:30pm USD Core Retail Sales (0.3% expected, > good for currency)
1:30pm USD PPI (0.0% expected, > good for currency)
1:30pm USD Retail Sales (0.2% expected, > good for currency)
1:30pm USD Core PPI (0.2% expected, > good for currency)
3:00pm USD Preliminary University of Michigan Consumer Sentiment (92.3 expected, > good for currency)
3:35pm GBP MPC Member Weale speaks (hawkish = good for currency)
Saturday, December 12th
5:30am CNY Industrial Production (5.7% expected)
5:30am CNY Fixed Asset Investment (10.1% expected)
Technical Forecast and Levels to Watch for the Majors This Week
EUR/USD: Higher
Resistance:
Initial: 1.0866, 1.0873, 1.0882/86, 1.0896, 1.0915/17, 1.0960, 1.0968, 1.0980/86, 1.0996/98, 1.1005/10, 1.1016/17, 1.1040, 1.1048/52, 1.1072, 1.1094/97, 1.1104, 1.1113/15, 1.1133/34, 1.1142/44, 1.1150, 1.1159, 1.1170/75, 1.1192, 1.1211/19, 1.1256/80, 1.1294/1.1303, 1.1317/18, 1.1331/33, 1.1375/91, 1.1422/34, 1.1442/49, 1.1459, 1.1483, 1.1494/98, 1.1533, 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: 1.0847, 1.0818/33, 1.0807, 1.0762/90, 1.0736, 1.0707, 1.0688, 1.0636, 1.0616, 1.0591/95, 1.0565/68, 1.0522, 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.
USD/JPY: Mildly Lower
Resistance:
Initial: 123.42/49, 123.66/78, 123.95, 124.05, 124.11/14, 124.22, 124.35/38, 124.43/46, 125.06, 125.27 and 125.40.
Above: 125.67/75, 126.17, 126.41, 126.90, and 135.19.
Support:
Initial: 123.25, 123.12, 122.87, 122.60/68, 122.44, 122.22/30, 122.01, 121.96, 121.80/84, 121.62/65, 121.48/49, 121.27/38, 121.19/23, 121.02, 120.73/82, 120.56, 120.34/47, 120.17/27, 120.02, 119.95, 119.80, 119.61/65, 119.37/46, 119.21/28, 119.01, 118.85/97, 118.62/67, 118.23/45, 118.04/05, 117.93/99, 117.76, 117.43, 117.23, 116.82/117.02, 116.10/14 115.85, 115.56/58, 114.65, 112.98, 111.78, 111.60, 110.39/47, 110.08, 109.90, 109.53, 109.45, 108.98, 108.42, 108.24, 108.00, 107.38/39, 107.18, 107.05, 106.80, 106.24, 105.70, 105.41/43, 105.30/33, 105.18, 104.83/91, 104.63/68, 104.36, 104.07/26, 103.91, 103.82, 103.73/75, 103.37/43, 103.30, 102.92/103.08, 102.57/82, 102.49/52, 102.33/40, 102.26, 102.13/14, 101.90/102.04, 101.60/83, 101.50/56, 101.42/43, 101.30/32, 101.08/27, 100.82/86, 100.75, 100.60/65, 100.38/48, 100.22, and 100.00.
Below: 99.94, 99.66, 99.40, 99.25, 99.13/14, 99.00, 98.84/92, 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, 96.05, 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.
GBP/USD: Higher
Resistance:
Initial: 1.5101/06, 1.5123/24, 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: 1.5092, 1.5081, 1.5072/77, 1.5053/56, 1.5026/33, 1.5013/14, 1.5007, 1.4985/88, 1.4966/67, 1.4950, 1.4927, 1.4913 and 1.4894.
Below: 1.4884, 1.4872, 1.4868, 1.4856, 1.4830, 1.4812, 1.4785, 1.4698, 1.4634, 1.4615, 1.4345 and 1.4232.
AUD/USD: Higher
Resistance:
Initial: 0.7338, 0.7343, 0.7362/65, 0.7370, 0.7379/84, 0.7393, 0.7413, 0.7444, 0.7469, 0.7487, 0.7504, 0.7559, 0.7590 0.7597/92, 0.7614, 0.7625, 0.7634, 0.7642/43, 0.7653, 0.7674, 0.7681, 0.7700/10, 0.7719/22, 0.7725, 0.7738/40, 0.7750/60, 0.7772/84, 0.7791/92, 0.7817, 0.7825, 0.7840/88, 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: 0.7302, 0.7295, 0.7278/82, 0.7266/71, 0.7248/49, 0.7234, 0.7221/23, 0.7214/15, 0.7197, 0.7181/84, 0.7154/70, 0.7098, 0.7083, 0.7062/69, 0.7030, 0.7021/24, 0.6945, 0.6936/37, 0.6918, 0.6907, 0.6852, 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.
USD/CAD: Lower
Resistance:
Initial: 1.3395, 1.3415, 1.3434, 1.3456, 1.3606, 1.3687, 1.3872 and 1.3993.
Above: 1.4006, 1.4035, 1.4195 and 1.4277.
Support:
Initial: 1.3367/74, 1.3352, 1.3323/25, 1.3316, 1.3305/09, 1.3292, 1.3270/79, 1.3260/64, 1.3241/45, 1.3233, 1.3212, 1.3197, 1.3190, 1.3174, 1.3136, 1.3115/16, 1.3101, 1.3099, 1.3089, 1.3079, 1.3062, 1.3054, 1.3037/39, 1.3021, 1.3007/14, 1.2994, 1.2985, 1.2970, 1.2935, 1.2900, 1.2830/34, 1.2822, 1.2797, 1.2772/78, 1.2696/94, 1.2662, 1.2631, 1.2625, 1.2615, 1.2613, 1.2609, 1.2585/91, 1.2563, 1.2537, 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.
NZD/USD: Higher
Resistance:
Initial: 0.6693/96, 0.6706, 0.6720, 0.6734/38, 0.6784/90, 0.6806/11, 0.6838/44, 0.6863, 0.6895, 0.6923, 0.6966, 0.7051, 0.7076, 0.7102, 0.7112, 0.7174, 0.7199, 0.7213, 0.7230, 0.7273, 0.7305, 0.7312, 0.7331/36, 0.7368, 0.7394, 0.7404, 0.7419/20, 0.7433, 0.7440/47, 0.7455/59, 0.7467, 0.7484/0.7500, 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: 0.6679/86, 0.6639/41, 0.6616/20, 0.6591/0.6609, 0.6585, 0.6571, 0.6557, 0.6538, 0.6519, 0.6504, 0.6491/97, 0.6466, 0.6448/55, 0.6435, 0.6423/27, 0.6400/07, 0.6396, 0.6382/88, 0.6287, 0.6269, 0.6254, 0.6248, 0.6242 and 0.6234.
Below: 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.