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 2nd – March 6th, 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 1st
1:00am CNY Manufacturing PMI (49.9 expected)
Monday, March 2nd
1:45am CNY HSBC Final Manufacturing PMI (50.1 expected)
9:30am GBP Manufacturing PMI (53.5 expected, > good for currency)
10:00am EUR CPI Flash Estimate (-0.5% expected, > good for currency)
3:00pm USD ISM Manufacturing PMI (53.4 expected, > good for currency)
Tuesday, March 3rd
12:30am AUD Building Approvals (-1.8% expected, > good for currency)
3:30am AUD Cash Rate Decision (25 bp drop to 2.00% from 2.25% expected, > good for currency)
3:30pm AUD RBA Rate Statement (hawkish = good for currency)
8:00am EUR Spanish Unemployment Change (10.5K expected, < good for currency)
9:30am GBP Construction PMI (59.0 expected, > good for currency)
10:00am GBP BOE Governor Carney speaks (hawkish = good for currency)
1:30pm CAD GDP (0.1% expected, > good for currency)
Tentative NZD GDT Price Index (last 10.1%, > good for currency)
Wednesday, March 4th
12:30am AUD GDP (0.7% expected, > good for currency)
1:15am USD Fed Chair Yellen speaks (hawkish = good for currency)
9:30am GBP Services PMI (57.6 expected, > good for currency)
1:15pm USD ADP Non-Farm Employment Change (219K expected, > good for currency)
3:00pm CAD BOC Rate Statement (hawkish = good for currency)
3:00pm CAD Overnight Rate (unchanged at 0.75% expected, > good for currency)
3:00pm USD ISM Non-Manufacturing PMI (56.5 expected, > good for currency)
Thursday, March 5th
12:30am AUD Retail Sales (0.4% expected, > good for currency)
12:30am AUD Trade Balance (-0.93B expected, > good for currency)
12:00pm GBP Official Bank Rate (unchanged at 0.50% expected, > good for currency)
Tentative GBP MPC Rate Statement (hawkish = good for currency)
12:45pm EUR Minimum Bid Rate Decision (unchanged at 0.05% expected, > good for currency)
1:30pm EUR ECB Press Conference (hawkish = good for currency)
1:30pm USD Weekly Initial Jobless Claims (319K expected, < good for currency)
3:00pm CAD Ivey PMI (46.2 expected, > good for currency)
Friday, March 6th
1:30pm CAD Building Permits (5.5% expected, > good for currency)
1:30pm CAD Trade Balance (0.3B expected, > good for currency)
1:30pm USD Non-Farm Payrolls (241K expected, > good for currency)
1:30pm USD Trade Balance (-41.6B expected, > good for currency)
1:30pm USD Unemployment Rate (5.6% expected, < good for currency)
Technical Forecast and Levels to Watch for the Majors This Week
EUR/USD: Lower
Resistance:
Initial: 1.1261/79, 1.1297/1.1303, 1.1375, 1.1422, 1.1442/49, 1.1459, 1.1498, 1.1533, 1.1642, 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, 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, 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: 1.1159, 1.1114 and 1.1097.
Below: 1.0917 and 1.0762/86.
USD/JPY: Mildly Higher
Resistance:
Initial: 119.83, 119.95, 120.17/20, 120.36/47, 120.73/82, 121.38, 121.62, and 121.80/84.
Above: 124.14, 125.67/75, 126.17, 126.41, 126.90, and 135.19.
Support:
Initial: 119.62, 119.41, 119.21, 118.85/97, 118.62, 118.23/45, 118.04, 117.93/99, 117.76, 117.43, 117.23, 116.82/117.02, 116.10, 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: 1.5403/22, 1.5427, 1.5434/39, 1.5458, 1.5476/79, 1.5485, 1.5498/99, 1.5514/16, 1.5538/51, 1.5561/68, 1.5584/92, 1.5601/19, 1.5624/27, 1.5656, 1.5673, 1.5683/92, 1.5714/17, 1.5750, 1.5763, 1.5775/89, 1.5803/07, 1.5825, 1.5844, 1.5853, 1.5874/77, 1.5886/93, 1.5900/27, 1.5948/51, 1.5956/61, 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, 1.6204/15, 1.6215/16, 1.6222/26, 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, 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: 1.5392, 1.5384, 1.5313/51, 1.5304, 1.5293, 1.5260/68, 1.5237/39, 1.5208/23, 1.5195/98, 1.5173/87, 1.5163/64, 1.5152/57, 1.5130, 1.5123, 1.5101, 1.5092, 1.5081, 1.5072/77, 1.5056, 1.5026/33, 1.5013, 1.5007, 1.4985/88, 1.4966/67, 1.4950, 1.4884, 1.4872, 1.4856, 1.4830, 1.4812, and 1.4785.
Below: 1.4345 and 1.4232.
AUD/USD: Lower
Resistance:
Initial: 0.7792, 0.7840/47, 0.7852/88, 0.7912, 0.7950, 0.7988, 0.8008, 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: 0.7756/60, 0.7738/40, 0.7719, 0.7700, 0.7681, 0.7674, 0.7643, and 0.7625.
Below: 0.7413, 0.7365, 0.7271 and 0.7234.
USD/CAD: Mildly Higher
Resistance:
Initial: 1.2563, 1.2585/91, 1.2662, 1.2696, 1.2772, and 1.2797.
Above: 1.2985, 1.3007/14, and 1.3062.
Support:
Initial: 1.2456/58, 1.2421, 1.2386, 1.2378, 1.2361, 1.2351, 1.2045, 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: 0.7528/85, 0.7605/59, 0.7679/88, 0.7692/97, 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: 0.7484/0.7500, 0.7467, 0.7455/59, 0.7440/47, 0.7419, 0.7404, 0.7394, 0.7368, 0.7331, 0.7312, 0.7213, and 0.7174.
Below: 0.7112, 0.6806, 0.6639, and 0.6557.
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.