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 3rd–March 7th, 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, March 3rd
- 1:45am CNY HSBC Final Manufacturing PMI (48.5 expected)
- 9:30am GBP Manufacturing PMI (56.9 expected, > good for currency)
- 2:00pm EUR ECB President Draghi speaks (hawkish = good for currency)
- 3:00pm USD ISM Manufacturing PMI (52.3 expected, > good for currency)
Tuesday, March 4th
- 12:30am AUD Building Approvals (0.7% expected, > good for currency)
- 3:30am AUD Cash Rate (2.50% expected, > good for currency)
- 3:30am AUD RBA Rate Statement (hawkish = good for currency)
- 9:30am GBP Construction PMI (63.6 expected, > good for currency)
Wednesday, March 5th
- 12:30am AUD GDP (0.7% expected, > good for currency)
- 9:30am GBP Services PMI (58.0 expected, > good for currency)
- 1:15pm USD ADP Non-Farm Employment Change (159K expected, > good for currency)
- 3:00pm CAD BOC Rate Statement (hawkish = good for currency)
- 3:00pm CAD Overnight Rate (1.00% expected, > good for currency)
- 3:00pm USD ISM Non-Manufacturing PMI (53.8 expected, > good for currency)
Thursday, March 6th
- 12:30am AUD Retail Sales (0.5% expected, > good for currency)
- 12:30am AUD Trade Balance (0.11B expected, > good for currency)
- 12:00pm GBP Asset Purchase Facility (375B expected, < good for currency)
- 12:00pm GBP Official Bank Rate (0.50% expected, > good for currency)
- Tentative GBP MPC Rate Statement (hawkish = good for currency)
- 12:45pm EUR Minimum Bid Rate Decision (0.25% expected, > good for currency)
- 1:15pm USD FOMC Member Dudley speaks (hawkish = good for currency)
- 1:30pm CAD Building Permits (1.9% expected, > good for currency)
- 1:30pm EUR ECB Press Conference (hawkish = good for currency)
- 1:30pm USD Weekly Initial Jobless Claims (336K expected, > good for currency)
- 3:00pm CAD Ivey PMI (56.7 expected, > good for currency)
- 10:30pm AUD RBA Governor Stevens speaks (hawkish = good for currency)
Friday, March 7th
- 1:30pm CAD Employment Change (16.9K expected, > good for currency)
- 1:30pm CAD Trade Balance (-1.6B expected, > good for currency)
- 1:30pm CAD Unemployment Rate (7.0% expected, < good for currency)
- 1:30pm USD Non-Farm Payrolls(151K expected, > good for currency)
- 1:30pm USD Trade Balance (-39.1B expected, > good for currency)
- 1:30pm USD Unemployment Rate (6.6% expected, < good for currency)
Saturday, March 8th
- Tentative CNY Trade Balance (13.2B expected)
Technical Forecast and Levels to Watch for the Majors This Week
EUR/USD: Lower
Resistance:
Initial: 1.3795/98, 1.3810/18, 1.3824, 1.3832/36, 1.3892, 1.3969, 1.4000, 1.4246 and 1.4500/17.
Above: 1.4695 and 1.4939.
Support:
Initial: 1.3758/72, 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.
USDJPY: Higher
Resistance:
Initial: 101.43, 101.52/56, 101.62/66, 101.83, 101.91/99, 102.14, 102.49/52, 102.57/69, 102.75/76, 102.82, 102.93, 103.30, 103.37/43, 103.73, 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: 101.22/25, 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, 94.0593.76, 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: 1.6745, 1.6755, 1.6768, 1.6802, 1.6822 and 1.6874.
Above: 1.6909, and 1.7042/47.
Support:
Initial: 1.6724, 1.6667, 1.6624, 1.6611/17, 1.6592, 1.6576/82, 1.6516, 1.6484, 1.6458/64, 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.
AUDUSD: Lower
Resistance:
Initial: 0.8906/12, 0.8918, 0.8927/36, 0.8951/57, 0.8967/69, 0.8981/87, 0.8997/0.9008, 0.9035, 0.9041, 0.9042/47, 0.9054/57, 0.9061/66, 0.9072/79, 0.9112/19, 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, 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. 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.
USDCAD: Mildly Higher
Resistance:
Initial: 1.1120/32, 1.1141, 1.1158, 1.1172, 1.1194 and 1.1223.
Above: 1.1723, 1.2985, 1.3007/14 and 1.3062.
Support:
Initial: 1.1102, 1.1089, 1.1039/53, 1.0982/90, 1.0962/66, 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.
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: Lower
Resistance:
Initial: 0.8359/66, 0.8376/0.8406, 0.8413, 0.8423/47, 0.8453/59, 0.8472/79, 0.8487/89, 0.8504/08, 0.8523, 0.8532, 0.8542, 0.8561, 0.8571 and 0.8584.
Above: 0.8605, 0.8641, 0.8671/74, 0.8764 and 0.8840.
Support:
Initial: 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.
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.