By Michael Trinkle, ForexTraders Key Fundamental Forex Events for the Week of August 22nd through August 26th The following table lists the key economic data and other events that came out during the week of August 22nd through August 26th, with release times displayed for the GMT time zone. The list also indicates how much each release deviated from the market consensus forecast upon release, as well as what the affected major currency pair or pairs did after each event or set of events. Monday, August 22nd
No key data releases scheduled.
Tuesday, August 23rd
4:00am NZD – Inflation Expectations 2.9% versus 3.0% expected. The NZD rose. 10:00am EUR – German ZEW Economic Sentiment -37.6 versus -24.6 expected. The EUR rose. 1:30pm CAD – Core Retail Sales -0.1% versus 0.4% expected. The CAD rose. 3:00pm USD – New Home Sales 298K versus 316K expected. The USD was mostly lower.
Wednesday, August 24th
9:00am EUR – German Ifo Business Climate 108.7 versus 111.3 expected. The EUR fell. 1:30pm USD – Core Durable Goods Orders 0.7% versus -0.2% expected. The USD rose. 11:45pm NZD – Core Retail Sales 1.0% versus 0.7% expected. The NZD fell.
Thursday, August 25th
1:30pm USD – Weekly Initial Jobless Claims 417K versus 402K expected. The USD rose.
Friday, August 26th
12:30am AUD – RBA Governor Stevens spoke. He said that, “Inflation bears careful watching, but we can keep it under control. Our banks are strong, our currency is sound and our sovereign credit position is in the international top tier… If we are entering another period of weaker international conditions, this is a pretty good starting point from which to do so.” The AUD rose. 9:30am GBP – Revised GDP 0.2%, as expected. The GBP rose slightly. 10:30am CHF – KOF Economic Barometer 1.61 versus 1.86 expected. The CHF fell. 1:30pm USD – Preliminary GDP 1.0% versus 1.1% expected. 3:00pm USD – Fed Chairman Bernanke spoke. He said that, “Economic policymakers face a range of difficult decisions, relating to both the short-run and long-run challenges we face. I have no doubt, however, that those challenges can be met, and that the fundamental strengths of our economy will ultimately reassert themselves.” The USD fell.
Technical Recap for the Majors This Week EURUSD: Forecast: LowerActual: Virtually unchanged from a 1.4377 open to a 1.4389 close. USDJPY: Forecast: Mildly LowerActual: Virtually unchanged from a 76.75 open to a 76.74 close. GBPUSD: Forecast: LowerActual: Lower from a 1.6465 open to a 1.6266 close. AUDUSD: Forecast: HigherActual: Higher from a 1.0381 open to a 1.0572 close. USDCAD: Forecast: LowerActual: Mildly lower from a 0.9903 open to a 0.9843 close. NZDUSD: Forecast: HigherActual: Higher from a 0.8174 open to a 0.8378 close. More articles from ForexTraders….