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 March 14th – March 18th, 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, March 13th
8:00am CAD Daylight Saving Time Shift
8:00am USD Daylight Saving Time Shift
Monday, March 14th
8:00pm NZD RBNZ Governor Wheeler speaks (hawkish = good for currency)
Tuesday, March 15th
1:30am AUD Monetary Policy Meeting Minutes (hawkish = good for currency)
Tentative JPY Monetary Policy Statement (hawkish = good for currency)
Tentative JPY BOJ Press Conference (hawkish = good for currency)
1:30pm USD Core Retail Sales (-0.2% expected, > good for currency)
1:30pm USD PPI (-0.2% expected, > good for currency)
1:30pm USD Retail Sales (-0.1% expected, > good for currency)
1:30pm USD Core PPI (0.1% expected, > good for currency)
1:30pm USD Empire State Manufacturing Index (-10.3 expected, > good for currency)
Tentative NZD GDT Price Index (last 1.4%, > good for currency)
10:45pm NZD Current Account (-2.97B expected, > good for currency)
Wednesday, March 16th
10:30am GBP Average Earnings Index (2.0% expected, > good for currency)
10:30am GBP Claimant Count Change (-8.8K expected, < good for currency)
10:30am GBP Unemployment Rate (5.1% expected, < good for currency)
1:30pm CAD Manufacturing Sales (0.4% expected, > good for currency)
1:30pm CAD Foreign Securities Purchases (last -1.41B, > good for currency)
1:30pm GBP Annual Budget Release (hawkish = good for currency)
1:30pm USD Building Permits (1.20M expected, > good for currency)
1:30pm USD CPI (-0.2% expected, > good for currency)
1:30pm USD Core CPI (0.2% expected, > good for currency)
1:30pm USD Housing Starts (1.15M expected, > good for currency)
2:15pm USD Capacity Utilization Rate (76.9% expected, > good for currency)
2:15pm USD Industrial Production (-0.2% expected, > good for currency)
3:30pm USD Crude Oil Inventories (last 3.9M, > good for currency)
7:00pm USD FOMC Economic Projections (hawkish = good for currency)
7:00pm USD FOMC Statement (hawkish = good for currency)
7:00pm USD Federal Funds Rate (<0.50% expected, > good for currency)
7:30pm USD FOMC Press Conference (hawkish = good for currency)
10:45pm NZD GDP (0.7% expected, > good for currency)
11:05pm AUD RBA Assistant Governor Debelle speaks (hawkish = good for currency)
Thursday, March 17th
1:30am AUD Employment Change (11.6K expected, > good for currency)
1:30am AUD Unemployment Rate (6.0% expected, < good for currency)
9:15am CHF PPI (0.2% expected, > good for currency)
9:30am CHF Libor Rate (-0.75% expected, > good for currency)
9:30am CHF SNB Monetary Policy Assessment (hawkish = good for currency)
11:00am EUR Final CPI (-0.2% expected, > good for currency)
1:00pm GBP MPC Official Bank Rate Votes (0-0-9 expected, hawkish = good for currency)
1:00pm GBP Monetary Policy Summary (hawkish = good for currency)
1:00pm GBP Official Bank Rate (0.50% expected, > good for currency)
1:00pm GBP Asset Purchase Facility (375B expected, < good for currency)
1:00pm GBP MPC Asset Purchase Facility Votes (0-0-9 expected, lower facility = good for currency)
1:30pm CAD Wholesale Sales (0.3% expected, > good for currency)
1:30pm USD Philly Fed Manufacturing Index (-1.4 expected, > good for currency)
1:30pm USD Weekly Initial Jobless Claims (267K expected, < good for currency)
1:30pm USD Current Account (-117B expected, > good for currency)
3:00pm USD JOLTS Job Openings (5.57M expected, > good for currency)
Friday, March 18th
12:50am JPY Monetary Policy Meeting Minutes (hawkish = good for currency)
1:30pm CAD Core CPI (0.5% expected, > good for currency)
1:30pm CAD Core Retail Sales (0.6% expected, > good for currency)
1:30pm CAD CPI (0.3% expected, > good for currency)
1:30pm CAD Retail Sales (0.7% expected, > good for currency)
2:00pm USD FOMC Member Dudley speaks (hawkish = good for currency)
3:00pm USD Preliminary University of Michigan Consumer Sentiment (92.1 expected, > good for currency)
4:00pm USD FOMC Member Rosengren speaks (hawkish = good for currency)
7:00pm USD FOMC Member Bullard speaks (hawkish = good for currency)
Technical Forecast and Levels to Watch for the Majors This Week
EUR/USD: Higher
Resistance:
Initial: 1.1159, 1.1170/75, 1.1192, 1.1211/19, 1.1248, 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: 1.1150, 1.1142/44, 1.1133/34, 1.1113/15, 1.1104, 1.1094/97, 1.1066/72, 1.1040/57, 1.1016/17, 1.1005/10, 1.0992/98, 1.0983/86, 1.0967/68, 1.0960, 1.0911/17, 1.0896, 1.0882/86, 1.0873, 1.0866, 1.0847/53, 1.0818/33, 1.0804/09, 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: Lower
Resistance:
Initial: 113.98, 114.44, 114.55/65, 114.87, 115.56/58, 115.85, 115.92, 116.10/14, 116.28, 116.50, 116.82/117.02, 117.23, 117.43, 117.52, 117.65/76, 117.93/99, 118.04/05, 118.23/45, 118.62/67, 118.85/97, 119.01/06, 119.21/28, 119.37/46, 119.61/65, 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, 121.62/68, 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: 113.38, 112.98, 112.30, 112.22, 112.15, 111.78, 111.60, 110.97/111.03, 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: Mildly Higher
Resistance:
Initial: 1.4396, 1.4406/12, 1.4436/44, 1.4451, 1.4534, 1.4546, 1.4603, 1.4615, 1.4634, 1.4667, 1.4692/98, 1.4733, 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: 1.4361, 1.4345/51, 1.4283, 1.4247/51, 1.4232/34, 1.4172, 1.4148, 1.4133, 1.4117, 1.4108, 1.4079, 1.4056, 1.4041, 1.3877, 1.3853 and 1.3835/40.
Below: 1.3653 and 1.3501.
AUD/USD: Higher
Resistance:
Initial: 0.7559, 0.7582/90 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: 0.7527, 0.7504, 0.7487, 0.7469, 0.7442/44, 0.7413, 0.7393, 0.7379, 0.7370, 0.7362/65, 0.7343, 0.7338, 0.7326, 0.7302, 0.7295, 0.7279/82, 0.72/65/71, 0.7241/58, 0.7234, 0.7221/23, 0.7214/15, 0.7207, 0.7197, 0.7181/85, 0.7152/70, 0.7140/44, 0.7108, 0.7098, 0.7083, 0.7062/69, 0.7047, 0.7030/34, 0.7021/24, 0.7001/02, 0.6945, 0.6936/37, 0.6918, 0.6907, 0.6852, 0.6826, 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: 1.3241/45, 1.3260/64, 1.3270/79, 1.3305/16, 1.3323/25, 1.3352, 1.3367/74, 1.3385/95, 1.3415, 1.3434, 1.3445, 1.3456, 1.3504, 1.3586, 1.3606, 1.3638, 1.3652/61, 1.3672, 1.3687, 1.3756, 1.3780, 1.3813/14, 1.3845, 1.3858, 1.3872, 1.3910, 1.3939/46, 1.3992/1.4015, 1.4035, 1.4101, 1.4113, 1.4195, 1.4277, 1.4324, 1.4430, 1.4605/24, 1.4689/93 and 1.4894.
Above: 1.5024, 1.5065, 1.5150, 1.5182, 1.5322, 1.5632, 1.5830, 1.5855, 1.6054 and 1.6196.
Support:
Initial: 1.3233, 1.3212, 1.3197, 1.3190, 1.3166/74, 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 Lower
Resistance:
Initial: 0.6720/24, 0.6734/38, 0.6750, 0.6771/73, 0.6784, 0.6790, 0.6806/17, 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: 0.6706, 0.6693/96, 0.6679, 0.6639/41, 0.6616/20, 0.6584/0.6609, 0.6585, 0.6571, 0.6556/63, 0.6538/43, 0.6529, 0.6519, 0.6504/07, 0.6491/97, 0.6466, 0.6447/55, 0.6435, 0.6423/27, 0.6415, 0.6400/07, 0.6396, 0.6379/88, 0.6345, 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.