Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Market Forecast: Higher GBP/USD, Lower USD/CAD

Published 04/01/2014, 02:10 AM
Updated 07/09/2023, 06:31 AM

The following table lists the key economic data and other events that are due out during the week of March 31st–April 4th, 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.

Sunday, March 30th

  • 2:00am CHF Daylight Saving Time Shift
  • 2:00am EUR Daylight Saving Time Shift
  • 2:00am GBP Daylight Saving Time Shift
  • 10:45pm NZD Building Consents (-1.7% expected, > good for currency)

Monday, March 31st

  • 12:50am JPY Preliminary Industrial Production (-2.3% expected, > good for currency)
  • 1:00am AUD HIA New Home Sales (0.5% expected, > good for currency)
  • 1:00am NZD ANZ Business Confidence (67.3 expected, > good for currency)
  • 1:30am AUD Private Sector Credit (0.4% expected, > good for currency)
  • 7:00am EUR German Retail Sales (-0.3% expected, > good for currency)
  • 8:00am CHF KOF Economic Barometer (2.08 expected, > good for currency)
  • 9:30am GBP Net Lending to Individuals (2.3B expected, > good for currency)
  • 10:00am EUR CPI Flash Estimate (0.6% expected, > good for currency)
  • 1:30pm CAD GDP (0.4% expected, > good for currency)
  • 2:45pm USD Chicago PMI (59.2 expected, > good for currency)
  • 2:55pm USD Fed Chair Yellen speaks (hawkish = good for currency)
  • 6:15pm GBP BOE Gov Carney speaks (hawkish = good for currency)

Tuesday, April 1st

  • 12:50am JPY Tankan Manufacturing Index (19 expected, > good for currency)
  • 12:50am JPY Tankan Non-Manufacturing Index (24 expected, > good for currency)
  • 2:00am CNY Manufacturing PMI (50.1 expected)
  • 2:30am JPY Average Cash Earnings (-0.1% expected, > good for currency)
  • 2:45am CNY HSBC Final Manufacturing PMI (48.5 expected, > good for currency)
  • 4:30am AUD Cash Rate (unchanged at 2.50% expected, > good for currency)
  • 4:30am AUD RBA Rate Statement (hawkish = good for currency)
  • 8:15am EUR Spanish Manufacturing PMI (52.9 expected, > good for currency)
  • 8:30am CHF SVME PMI (56.9 expected, > good for currency)
  • 8:45am EUR Italian Manufacturing PMI (52.2 expected, > good for currency)
  • 8:55am EUR German Unemployment Change (-9K expected, > good for currency)
  • 9:30am GBP Manufacturing PMI (56.7 expected, > good for currency)
  • 10:00am EUR EZ Unemployment Rate (12.0% expected, < good for currency)
  • Day 1 EUR ECOFIN Meetings (hawkish = good for currency)
  • 1:30pm CAD RMPI (2.3% expected, > good for currency)
  • 3:00pm USD ISM Manufacturing PMI (54.2 expected, > good for currency)
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Wednesday, April 2nd

  • 1:30am AUD Building Approvals (-1.7% expected, > good for currency)
  • 7:00am GBP Nationwide HPI (0.7% expected, > good for currency)
  • 8:00am EUR Spanish Unemployment Change (-5.3K expected, < good for currency)
  • 9:30am GBP Construction PMI (63.1 expected, > good for currency)
  • Day 2 EUR ECOFIN Meetings (hawkish = good for currency)
  • 12:45pm GBP MPC Member Cunliffe speaks (hawkish = good for currency)
  • 1:15pm USD ADP Non-Farm Employment Change (192K expected, > good for currency)
  • 3:00pm USD Factory Orders (1.3% expected, > good for currency)
  • 3:30pm USD Crude Oil Inventories (last 6.6M expected, > good for currency)

Thursday, April 3rd

  • 1:30am AUD Retail Sales (0.4% expected, > good for currency)
  • 1:30am AUD Trade Balance (0.82B expected, > good for currency)
  • 2:00am CNY Non-Manufacturing PMI (last 55.0 expected)
  • 3:00am AUD RBA Governor Stevens speaks (hawkish = good for currency)
  • 8:15am EUR Spanish Services PMI (54.1 expected, > good for currency)
  • 8:45am EUR Italian Services PMI (52.3 expected, > good for currency)
  • 9:30am GBP Services PMI (58.2 expected, > good for currency)
  • 9:30am GBP BOE Credit Conditions Survey (hawkish = good for currency)
  • 10:00am EUR Retail Sales (-0.3% expected, > good for currency)
  • 12:45pm EUR Minimum Bid Rate (unchanged at 0.25% expected, > good for currency)
  • 1:30pm CAD Trade Balance (0.2B expected, > good for currency)
  • 1:30pm EUR ECB Press Conference (hawkish = good for currency)
  • 1:30pm USD Trade Balance (-38.3B expected, > good for currency)
  • 1:30pm USD Weekly Initial Jobless Claims (319K expected, < good for currency)
  • 3:00pm USD ISM Non-Manufacturing PMI (53.5 expected, > good for currency)
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Friday, April 4th

  • 4th-8th GBP Halifax HPI (0.7% expected, > good for currency)
  • 11:00am EUR German Factory Orders (0.5% expected, > good for currency)
  • 1:30pm CAD Employment Change (25.3K expected, > good for currency)
  • 1:30pm CAD Unemployment Rate (7.0% expected, < good for currency)
  • 1:30pm USD Non-Farm Employment Change (196K expected, > good for currency)
  • 1:30pm USD Unemployment Rate (6.6% expected, < good for currency)
  • 1:30pm USD Average Hourly Earnings (0.2% expected, > good for currency)
  • 3:00pm CAD Ivey PMI (58.3 expected, > good for currency)

Saturday, April 5th

  • 3:00pm NZD Daylight Saving Time Shift
  • 5:00pm AUD Daylight Saving Time Shift

Levels To Watch:

EUR/USD: Mildly Higher

Resistance:
Initial: 1.3758/72, 1.3795/98, 1.3810/18, 1.3824, 1.3832/36, 1.3845/47, 1.3875, 1.3892, 1.3914, 1.3937, 1.3947, 1.3966/69, 1.4000, 1.4246 and 1.4500/17.

Above: 1.4695 and 1.4939.

Support:
Initial: 1.3748, 1.3739, 1.3714/16, 1.3703/10, 1.3685/99, 1.3682/86, 1.3664, 1.3642/50, 1.3621/31, 1.3602/14, 1.3597, 1.3546/81, 1.3538, 1.3507/24, 1.3489/1.3504, 1.3476/82, 1.3451, 1.3441, 1.3433/34, 1.3416, 1.3398/1.3409, 1.3376/89, 1.3344/53, 1.3318/24, 1.3305/08, 1.3294/99, 1.3222/42, 1.3187/1.3206, 1.3172/77, 1.3161/65, 1.3126, 1.3093/1.3106, 1.3077, 1.3059/66 and 1.3047.
Below: 1.3000, 1.2904/98, 1.2837/79, 1.2821, 1.2795/1.2805, 1.2744/54, 1.2623/92, 1.2588/89, 1.2501/19, 1.2407/96, 1.2381/91, 1.2323/33, 1.2241/55. 1.2162, 1.2143, 1.2133, 1.2041 and 1.1938.

USD/JPY: Mildly Lower

Resistance:
Initial: 102.75/76, 102.82, 102.93/97, 103.30, 103.37/43, 103.73/75, 103.82, 103.91, 104.07/19, 104.36, 104.63, 104.83/91, 105.18, 105.33 and 105.41/43.

Above: 107.18, 108.42, 110.39/47 and 111.60.

Support:
Initial: 102.57/69, 102.49/52, 102.14, 101.91/102.01, 101.83, 101.62/71, 101.52/56, 101.43, 101.19/27, 101.13/14, 100.85/86, 100.75, 100.60/65, 100.38/48, 100.22, 100.00, 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, and 95.44.
Below: 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.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

GBP/USD: Higher

Resistance:
Initial: 1.6640/50, 1.6665/67, 1.6717/24, 1.6745, 1.6755, 1.6768, 1.6785, 1.6802, 1.6822 and 1.6874.
Above: 1.6909, and 1.7042/47.

Support:
Initial: 1.6624, 1.6611/17, 1.6592, 1.6576/86, 1.6516, 1.6484, 1.6458/65, 1.6441, 1.6417/18,1.6400, 1.6394, 1.6380/83, 1.6376, 1.6348, 1.6336, 1.6298/1.6309, 1.6290, 1.6251/62, 1.6239/46, 1.6222/24, 1.6215/16, 1.6195/98, 1.6177, 1.6155, 1.6130/36, 1.6109/21, 1.6083/96, 1.6071/77, 1.6051/66, 1.6001/08, 1.5975/91, 1.5956/61, 1.5948, 1.5900/27, 1.5886/93, 1.5874/77, 1.5853, 1.5844, 1.5825, 1.5803/07, 1.5775/81, 1.5750, 1.5714/17, 1.5683/92, 1.5673, 1.5624/56, 1.5601/15, 1.5591, 1.5561/68, 1.5538/45 and 1.5514/16.

Below: 1.5498/99, 1.5476/79, 1.5458, 1.5434, 1.5427, 1.5403/21, 1.5313/92, 1.5304, 1.5293, 1.5260/62, 1.5237/39, 1.5208/23, 1.5198, 1.5173/87, 1.5164, 1.5152/57, 1.5130, 1.5123, 1.5101, 1.5092, 1.5081, 1.5072/75, 1.5026/32, 1.5013, 1.5007. 1.4985, 1.4966/67, 1.4884, 1.4872, 1.4856, 1.4830, 1.4812 and 1.4785, 1.4345 and 1.4232.

AUD/USD: Higher

Resistance:
Initial: 0.9102, 0.9110/19, 0.9127/37, 0.9147, 0.9162/67, 0.9179/89, 0.9303, 0.9214/23, 0.9232, 0.9268, 0.9279/86, 0.9291/94, 0.9304, 0.9317/25, 0.9343/64, 0.9383/86, 0.9391/98, 0.9404, 0.9420, 0.9428/33, 0.9447, 0.9457 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. 9072/79, 0.9061/66, 0.9054/57, 0.9042/48, 0.9041, 0.9035, 0.8994/0.9008, 0.8981/87, 0.8967/69, 0.8951/57, 0.8923/36, 0.8918, 0.8906/12, 0.8887/92, 0.8869, 0.8857/61, 0.8842/47, 0.8819/25, 0.8762/70, 0.8729, 0.8693, 0.8659, 0.8578 and 0.8512.

Below: 0.8066 and 0.7674.

USD/CAD: Lower

Resistance:
Initial: 1.1070, 1.1089, 1.1099, 1.1102/09, 1.1116/32, 1.1141, 1.1152, 1.1158, 1.1172/73, 1.1194, 1.1223 and 1.1277.
Above: 1.1723, 1.2985, 1.3007/14 and 1.3062.

Support:
Initial: 1.1039/53, 1.1000, 1.0982/90, 1.0962/66, 1.0954, 1.0939/45, 1.0928, 1.0909, 1.0852, 1.0742/85, 1.0736, 1.0726, 1.0717, 1.0702/07, 1.0676/79, 1.0668/76, 1.0659/60, 1.0646/56, 1.0621/27, 1.0608,1.0580/87, 1.0567/71, 1.0558/59, 1.0546, 1.0519/22, 1.0506, 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 and 1.0012.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Below: 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: 0.8671/74 and 0.8695.
Above: 0.8764 and 0.8840.

Support:
Initial: 0.8638/41, 0.8603/05, 0.8584, 0.8571, 0.8561, 0.8542, 0.8532, 0.8523, 0.8504/08, 0.8499, 0.8487/89, 0.8472/79, 0.8453/59, 0.8423/47, 0.8413, 0.8376/0.8406, 0.8359/66, 0.8322/53, 0.8302/16, 0.8291/95, 0.8285/87, 0.8280, 0.8271, 0.8263, 0.8250/55, 0.8221/41, 0.8204/14, 0.8195/97, 0.8186, 0.8171, 0.8160/63, 0.8147/53, 0.8114/37, 0.8100/09, 0.8078/82, 0.8049/60, 0.8030, 0.7989/0.8013, 0.7967, 0.7932, 0.7903/06, 0.7888, 0.7872, 0.7856/57, 0.7838/46, 0.7829, 0.7819 and 0.7804.

Below: 0.7795, 0.7783, 0.7760, 0.7751/58, 0.7731/34, 0.7705/23, 0.7697, 0.7681/86, 0.7605/76 and 0.7500/85.

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.