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 October 20th – October 24th, 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.
Monday, October 20th
- 1:30pm CAD Wholesale Sales (0.2%, > good for currency)
Tuesday, October 21st
- 1:30am AUD Monetary Policy Meeting Minutes (hawkish = good for currency)
- 3:00am CNY GDP (7.2%)
- 3:00am CNY Industrial Production (7.5%)
Wednesday, October 22nd
- 1:30am AUD CPI (0.4%, > good for currency)
- 9:30am GBP MPC Asset Purchase Facility Votes (0-0-9, more votes to reduce are good for currency)
- 9:30am GBP MPC Official Bank Rate Votes (2-0-7, more votes to raise are good for currency)
- 1:30pm CAD Core Retail Sales (0.3%, > good for currency)
- 1:30am USD Core CPI (0.2%, > good for currency)
- 3:00pm CAD BOC Monetary Policy Report (hawkish = good for currency)
- 3:00pm CAD BOC Rate Statement (hawkish = good for currency)
- 3:00pm CAD Overnight Rate (unchanged at 1.00%, > good for currency)
- 4:15pm CAD BOC Press Conference (hawkish = good for currency)
- 10:00pm AUD RBA Governor Stevens speaks (hawkish = good for currency)
- 10:45pm NZD CPI (0.5%, > good for currency)
Thursday, October 23rd
- 2:45am CNY HSBC Flash Manufacturing PMI (50.2)
- 8:00am EUR French Flash Manufacturing PMI (48.6, > good for currency)
- 8:30am EUR German Flash Manufacturing PMI (49.6, > good for currency)
- 9:30am GBP Retail Sales (-0.1%, > good for currency)
- 1:30pm USD Weekly Initial Jobless Claims (269K, < good for currency)
- 10:45pm NZD Trade Balance (-620M, > good for currency)
Friday, October 24th
- 9:30am GBP Preliminary GDP (0.7%, > good for currency)
- 3:00pm USD New Home Sales (473K, > good for currency)
Technical Forecast and Levels to Watch for the Majors This Week
EURUSD: Mildly Lower
Resistance:
Initial: 1.2767, 1.2791/1.2805, 1.2815/21, 1.2834/86, 1.2900/04, 1.2919/21, 1.2978/98, 1.3000/03, 1.3047, 1.3059/66, 1.3077, 1.3093/1.3109, 1.3126, 1.3130, 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 and 1.3748.
Above: 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: 1.2744/54, 1.2692/98, 1.2676, 1.2623/24, 1.2604/05, 1.2588/89, 1.2570, 1.2514/19, 1.2500/01, 1.2407/96, 1.2381/91, 1.2323/33, 1.2241/55, 1.2162, 1.2143 and 1.2133.
Below: 1.2041 and 1.1938.
USDJPY: Higher
Resistance:
Initial: 107.05, 107.18, 107.39, 107.49, 108.00, 108.24, 108.42, 108.98, 109.45, 109.53, 109.90 and 110.08.
Above: 110.39/47, 111.60 and 111.78.
Support:
Initial: 106.80, 106.66, 105.70, 105.41/43, 105.30/33, 105.18/19, 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.
GBPUSD: Lower
Resistance:
Initial: 1.6083/96, 1.6109/25, 1.6130/36, 1.6155, 1.6161, 1.6177, 1.6195/98, 1.6204/15, 1.6215/16, 1.6222/24, 1.6237/46, 1.6251/62, 1.6280/86, 1.6290, 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, 1.6496, 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, and 1.6995.
Above: 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: 1.6071/77, 1.6051/66, 1.6001/08, 1.5975/91, 1.5956/61, 1.5948/51, 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.
AUDUSD: Lower
Resistance:
Initial: 0.8747, 0.8762/73, 0.8784, 0.8812, 0.8819/25, 0.8842/47, 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: 0.8729, 0.8693, 0.8651/62, 0.8641, 0.8578 and 0.8512.
Below: 0.8066 and 0.7674.
USDCAD: Higher
Resistance:
Initial: 1.1269/77, 1.1360, 1.1384.
Above: 1.1723, 1.2985, 1.3007/14 and 1.3062.
Support:
Initial: 1.1221/29, 1.1210, 1.1194, 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, 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.
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.
NZDUSD: Mildly Lower
Resistance:
Initial: 0.7927/32, 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: 0.7903/06, 0.7888, 0.7872, 0.7856/57, 0.7838/46, 0.7829, 0.7819, 0.7804, 0.7793/95, 0.7783, 0.7760, 0.7751/58, 0.7731/35, 0.7705/23, 0.7697 and 0.7681/86.
Below: 0.7605/76 and 0.7500/85.
Tagged as: Technical Analysis, Fundamental Analysis, EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, NZDUSD
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