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 January 4th – January 8th, 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
Sunday, January 3rd
6:15pm USD FOMC Member Fischer speaks (hawkish = good for currency)
All Day NZD Bank Holiday
10:30pm USD FOMC Member Mester speaks (hawkish = good for currency)
Monday, January 4th
1:45am CNY Caixin Manufacturing PMI (48.9 expected)
All Day EUR German Preliminary CPI (0.2% expected, > good for currency)
8:15am EUR Spanish Manufacturing PMI (53.1 expected, > good for currency)
9:30am GBP Manufacturing PMI (52.8 expected, > good for currency)
9:30am GBP Net Lending to Individuals (4.9B expected, > good for currency)
3:00pm USD ISM Manufacturing PMI (49.1 expected, > good for currency)
Tuesday, January 5th
8:00am EUR Spanish Unemployment Change (-52.6K expected, < good for currency)
8:55am EUR German Unemployment Change (-7K expected, < good for currency)
9:30am GBP Construction PMI (56.1 expected, > good for currency)
10:00am EUR CPI Flash Estimate (0.4% expected, > good for currency)
10:00am EUR Core CPI Flash Estimate (1.0% expected, > good for currency)
1:30pm CAD RMPI (-2.3% expected, > good for currency)
Tentative NZD GDT Price Index (last 1.9% expected, > good for currency)
Wednesday, January 6th
1:45am CNY Caixin Services PMI (52.3 expected)
All Day EUR Italian Bank Holiday
6th-12th GBP Halifax HPI (0.5% expected, > good for currency)
9:30am GBP Services PMI (55.6 expected, > good for currency)
1:15pm USD ADP Non-Farm Payrolls (193K expected, > good for currency)
1:30pm CAD Trade Balance (-2.6B expected, > good for currency)
1:30pm USD Trade Balance (-44.0B expected, > good for currency)
3:00pm USD ISM Non-Manufacturing PMI (56.0 expected, > good for currency)
3:00pm USD Factory Orders (-0.2% expected, > good for currency)
3:30pm USD Crude Oil Inventories (last 2.6M expected, > good for currency)
7:00pm USD FOMC Meeting Minutes (hawkish = good for currency)
Thursday, January 7th
12:30am AUD Building Approvals (-2.8% expected, > good for currency)
12:30am AUD Trade Balance (-2.98B expected, > good for currency)
7:00am EUR German Factory Orders (0.1% expected, > good for currency)
7:00am EUR German Retail Sales (0.5% expected, > good for currency)
8:00am CHF Foreign Currency Reserves (last 563B expected, > good for currency)
10:00am EUR Unemployment Rate (10.7% expected, < good for currency)
1:25pm CAD BOC Governor Poloz speaks (hawkish = good for currency)
1:30pm USD Weekly Initial Jobless Claims (271K expected, < good for currency)
3:00pm CAD Ivey PMI (56.7 expected, > good for currency)
Friday, January 8th
12:30am AUD Retail Sales (0.4% expected, > good for currency)
9:30am GBP Trade Balance (-10.5B expected, > good for currency)
1:30pm CAD Building Permits (-3.2% expected, > good for currency)
1:30pm CAD Employment Change (10.4K expected, > good for currency)
1:30pm CAD Unemployment Rate (7.1% expected, < good for currency)
1:30pm USD Average Hourly Earnings (0.2% expected, > good for currency)
1:30pm USD Non-Farm Payrolls (202K expected, > good for currency)
1:30pm USD Unemployment Rate (5.0% expected, < good for currency)
Saturday, January 9th
1:30am CNY CPI (1.7% expected)
1:30am CNY PPI (-5.8% expected)
Technical Forecast and Levels to Watch for the Majors This Week
EUR/USD: Lower
Resistance:
Initial: 1.0873, 1.0882/86, 1.0896, 1.0915/17, 1.0960, 1.0968, 1.0983/86, 1.0992/98, 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: 1.0866, 1.0847/53, 1.0818/33, 1.0807, 1.0762/90, 1.0736, 1.0707, 1.0688, 1.0616, 1.0591/95, 1.0565/68, 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: Higher
Resistance:
Initial: 119.80, 119.95, 120.00/10, 120.17/27, 120.34/47, 120.56, 120.62/65, 120.73/82, 121.02, 121.19/23, 121.27/38, 121.48/49, 121.62/65, 121.80/84, 121.96, 122.01, 122.22/30, 122.44, 122.60/68, 122.87, 123.12, 123.25, 123.42/49, 123.71/78, 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: 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: Lower
Resistance:
Initial: 1.4785, 1.4812, 1.4830, 1.4856, 1.4868, 1.4872, 1.4884, 1.4913, 1.4927, 1.4943/50, 1.4966/67, 1.4985/88, 1.5007, 1.5013/14, 1.5026/33, 1.5053/56, 1.5072/77, 1.5081, 1.5092, 1.5101/06, 1.5123, 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: 1.4733, 1.4692/98, 1.4634, and 1.4615.
Below: 1.4345 and 1.4232.
AUD/USD: Lower
Resistance:
Initial: 0.7234, 0.7244/49, 0.7265/71, 0.7279/82, 0.7295, 0.7302, 0.7326, 0.7338, 0.7343, 0.7362/65, 0.7370, 0.7379, 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: 0.7221/23, 0.7214/15, 0.7207, 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: Mildly Higher
Resistance:
Initial: 1.3939, 1.3992/99, 1.4006, and 1.4035.
Above: 1.4195 and 1.4277.
Support:
Initial: 1.3872, 1.3813/14, 1.3780, 1.3756, 1.3687, 1.3672, 1.3606, 1.3456, 1.3434, 1.3415, 1.3395, 1.3367/74, 1.3352, 1.3323/25, 1.3316, 1.3305/09, 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: Mildly Higher
Resistance:
Initial: 0.6784, 0.6790, 0.6806/11, 0.6828, 0.6838/44, 0.6863, 0.6881, 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: 0.6734/38, 0.6720, 0.6706, 0.6693/96, 0.6679, 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.