Forex news this week

I haven’t written a post for a few days. It is time to write one. Unfortunately, there isn’t much what to say from the fundamental point of view. This week isn’t very rich in important Forex news. However, there is some and let us look at it right now. 

Tuesday

Canada: Retail Sales (coming at 15:30 GMT). I do not expect strong moves. Maybe gbp/cad could be taken higher, but nothing else. 

Wednesday

Australia: Consumer Price Index (coming at 01:30 GMT). Isn’t it time for Australian dollar to strengthen? Let us wait and see. 

New Zealand: Reserve Bank of New Zealand Rate Decision (coming at 21:00 GMT). 

Thursday

United Kingdom: Gross Domestic Product (coming at 08:30). This could be a key point in deciding on the nearest direction of Pound pairs. Pound may peak against most pairs. 

USA: Durable Goods Orders (coming at 12:30 GMT). 

Japan: National Consumer Price Index (coming at 23:30 GMT). 

Friday is pretty clean this time as no important news is scheduled on the day. So, we may expect major moves by the end of the week (probably in the middle of it). I will concentrate on British Pound this week. There is slight possibility for strengthening of commodity currencies: Australian and New Zealand dollars.

Key Forex news this week

There are a few important pieces of Forex news this week that a trader can hopefully capitalize on. I say hopefully, because not all events create significant volatility and moves. However, a few ones this week should be of interest to most speculators. Let us briefly mention them. 

Wednesday

Bank of England Financial Stability Report (coming at 9:30 GMT). This one should move all pound pairs. I particularly expect gbp/chf break upwards and the outcome for gbp/jpy and gbp/cad one way or another. 

Thursday

EU – German unemployment change (coming at 7:55 GMT). Euro may slip lower in various Euro denominated pairs. 

JPY – Japan National Consumer Price Index (coming at 23:30 GMT). Yen may start a fresh uptrend after a long collapse. Watch particularly aud/jpy, nzd/jpy and cad/jpy as commodity currencies seem to be very weak. 

Friday

EU – German Consumer Price Index (coming at 12:00 GMT). The number is expected better than previous month. Imagine what happens if it is actually worse. It would send Euro down across the board. 

CAD – Canada Gross Domestic Product (coming at 12:30 GMT). One thing is clear: either Canadian dollar will strengthen and reverse or we might see a new downtrend develop as Canadian dollar is near its’ yearly lows. 

I will post an update after tomorrow news from Britain comes. See you then.