By Michael Trinkle, ForexTraders Key Fundamental Forex Events for the Week of August 29th through September 2nd The following table lists the key economic data and other events that came out during the week of August 29th through September 2nd, 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 29th
2:00pm EUR – ECB President Trichet spoke. He said that, “While the underlying momentum of economic growth in the euro area continues to be positive, uncertainty remains elevated.” The EUR rose. 3:00pm USD – Pending Home Sales -1.3% versus -0.8% expected. The USD mostly fell. 11:45pm NZD – Building Consents 13% versus last -1.4%. The NZD rose.
Tuesday, August 30th
2:30am AUD – Building Approvals 1.0% versus 2.1% expected. The AUD rose. 3:00pm USD – CB Consumer Confidence 44.5 versus 52.2 expected. 7:00pm USD – FOMC Meeting Minutes stated that, “The Committee now expects a somewhat slower pace of recovery over coming quarters than it did at the time of the previous meeting and anticipates that the unemployment rate will decline only gradually toward levels that the Committee judges to be consistent with its dual mandate. Moreover, downside risks to the economic outlook have increased.” The USD was mixed.
Wednesday, August 31st
2:00am NZD – NBNZ Business Confidence 34.4 versus last 47.6. The NZD rose. 1:15pm USD – ADP Non-Farm Employment Change 91K versus 103K expected. The USD was mixed. 1:30pm CAD – GDP 0.2%, as expected. The CAD was virtually unchanged.
Thursday, September 1st
2:00am CNY – Manufacturing PMI 50.9 versus 51.2 expected. 2:30am AUD – Private Capital Expenditure 4.9% versus 4.1% expected. 2:30am AUD – Retail Sales 0.5% versus 0.3% expected. The AUD rose. 6:45am CHF – GDP 0.4%, as expected. 7:00am GBP – Nationwide HPI -0.6% versus 0.1% expected. 1st-8th GBP – Halifax HPI, not yet released. 8:15am CHF – Retail Sales 1.9% versus 4.6% expected. The CHF rose. 9:30am GBP – Manufacturing PMI 49.0 versus 48.9 expected. The GBP fell. 1:30pm USD – Weekly Initial Jobless Claims 409K, as expected. 3:00pm USD – ISM Manufacturing PMI 50.6 versus 48.9 expected. The USD was mostly higher.
Friday, September 2nd
9:30am GBP – Construction PMI 52.6 versus 53.1 expected. The GBP rose. 1:30pm USD – Non-Farm Payrolls 0K versus 90K expected. 1:30pm USD – Unemployment Rate 9.1%, as expected. The USD was mixed.
Technical Recap for the Majors This Week EURUSD: Forecast: HigherActual: Lower from a 1.4498 open to a 1.4211 close. USDJPY: Forecast: Mildly LowerActual: Mildly lower from a 76.74 open to a 76.69 close. GBPUSD: Forecast: HigherActual: Lower from a 1.6348 open to a 1.6191 close. AUDUSD: Forecast: HigherActual: Higher from a 1.0585 open to a 1.0663 close. USDCAD: Forecast: Mildly HigherActual: Mildly higher from a 0.9796 open to a 0.9818 close. NZDUSD: Forecast: HigherActual: Higher from a 0.8396 open to a 0.8510 close. More articles from ForexTraders….