The following table lists the key economic data and other events that came out during the week of October 13th through October 17th, with release times displayed for the GMT time zone.
The list also indicates how much each release deviated from the market consensus forecast upon release, as well as what the affected major currency pair or pairs did after each event or set of events.
Monday, October 13th
- All Day JPY Bank Holiday
- 3:00am CNY Trade Balance 31.08B versus 31.0B expected.
- All Day CAD Bank Holiday
- All Day USD Bank Holiday
Tuesday, October 14th
- 1:30am AUD NAB Business Confidence 5 versus last 8 expected. The currency fell.
- 9:30am GBP CPI 1.2% versus 1.4% expected. The currency fell.
- 10:00am EUR German ZEW Economic Sentiment survey -3.6 versus 0.2 expected. The currency fell.
Wednesday, October 15th
- 2:30am CNY CPI 1.6% versus 1.7% expected.
- 8:00am EUR. The currency rose:
ECB President Draghi said that, "An integration of the ECB statistical and supervisory data world will require painstaking work. One needs to go back to the drawing board and design a common European reporting framework that will serve all ECB functions, an information model and a data dictionary that will allow data for different final uses to be collected and processed in one coherent process, of course always respecting the rules of confidentiality. It will also require changes in legal texts, IT infrastructures and, not least, mentality. The sense of narrow “ownership” of the information by the final user may have been entrenched over years of separate existence of the statistical and supervisory data, but should be challenged.“
- 9:30am GBP Average Earnings Index 0.7% versus 0.7% expected. The currency rose.
- 9:30am GBP Claimant Count Change -18.6K versus -34.2K expected. The currency rose.
- 1:30pm USD Core Retail Sales -0.2% versus 0.2% expected. The currency fell.
- 1:30pm USD PPI -0.1% versus 0.1% expected. The currency fell.
- 1:30pm USD Retail Sales -0.3% versus -0.1% expected. The currency fell.
- 4:03pm NZD GDT Price Index 1.4% versus last -7.3% expected. The currency rose.
- 7:00pm EUR The currency rose:
ECB President Draghi said that, “Working together to enhance awareness of a country’s cultural heritage that is part of our roots and our identity offers a good opportunity to educate and prepare future generations, who will have a key role in strengthening cohesiveness and community spirit and in deciding the way in which the European institutions will develop. The mission of the EUROPEAN CULTURAL DAYS fully meets this aim.“ .
Thursday, October 16th
- 1:30pm CAD Manufacturing Sales -3.3% versus -1.6% expected. The currency fell.
- 1:30pm USD Weekly Initial Jobless Claims 264K versus 286K expected. The currency fell.
- 3:00pm USD Philly Fed Manufacturing Index 20.7 versus 19.9 expected. The currency fell.
Friday, October 17th
- 1:30pm CAD Core CPI 0.2% versus 0.1% expected. The currency rose.
- 1:30pm USD Building Permits 1.02M versus 1.04M expected. The currency rose.
- 1:30pm USD. The currency rose:
Fed Chair Yellen said that, “The extent of and continuing increase in inequality in the United States greatly concern me. The past several decades have seen the most sustained rise in inequality since the 19th century after more than 40 years of narrowing inequality following the Great Depression. By some estimates, income and wealth inequality are near their highest levels in the past hundred years, much higher than the average during that time span and probably higher than for much of American history before then. It is no secret that the past few decades of widening inequality can be summed up as significant income and wealth gains for those at the very top and stagnant living standards for the majority. I think it is appropriate to ask whether this trend is compatible with values rooted in our nation's history, among them the high value Americans have traditionally placed on equality of opportunity.“
- 2:55pm USD Preliminary University of Michigan Consumer Sentiment survey 86.4 versus 84.3 expected. The currency rose.
Technical Recap for the Majors This Week
EUR/USD:
Forecast: Mildly Higher
Actual: Higher from a 1.2628 open to a 1.2748 close.
USD/JPY:
Forecast: Mildly Lower
Actual: Lower from a 107.47 open to a 106.12 close.
GBP/USD:
Forecast: Mildly Lower
Actual: Mildly Lower from a 1.6066 open to a 1.5974 close.
AUD/USD:
Forecast: Mildly Lower
Actual: Mildly higher from a 0.8675 open to a 0.8680 close.
USD/CAD:
Forecast: Mildly Higher
Actual: Mildly higher from a 1.1200 open to a 1.1250 close.
NZD/USD:
Forecast: Mildly Lower
Actual: Higher from a 0.7807 open to a 0.7929 close.
Disclaimer: 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.