By Michael Trinkle, ForexTraders Key Fundamental Forex Events for the Week of September 12th through September 16th The following table lists the key economic data and other events that came out during the week of September 12th through September 16th, 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, September 12th
2:30am AUD – Trade Balance 1.83B versus 1.80B expected. The AUD fell.
Tuesday, September 13th
9:30am – GBP – CPI 4.5% as expected. The GBP fell.
Wednesday, September 14th
9:30am – GBP – Claimant Count Change 20.3K versus 34.6Kexpected. The GBP fell slightly. 1:30pm – USD – Core Retail Sales 0.1% versus 0.2% expected. 1:30pm – USD – PPI 0.0% versus -0.1% expected. 1:30pm – USD – Retail Sales 0.0% versus 0.2% expected. The USD was mixed. 10:00pm – NZD – Official Cash Rate 2.50%, as expected. The NZD fell slightly. 10:00pm – NZD – RBNZ Press Conference noted that, “If recent global developments have only a mild impact on the New Zealand economy, it is likely that the OCR (official cash rate) will need to increase.” 10:00pm – NZD – RBNZ Rate Statement noted that, “New Zealand banks are currently well funded and have not needed to issue term debt recently. Nonetheless, if conditions do not improve, bank funding costs will eventually increase.”
Thursday, September 15th
8:30am – CHF – Libor Rate < 0.25%, as expected. The CHF rose. 8:30am – CHF – SNB Monetary Policy Assessment noted that, “The Swiss National Bank will enforce the minimum exchange rate of CHF 1.20 per euro set on 6 September with the utmost determination. It is prepared to buy foreign currency in unlimited quantities.” 9:30am – GBP – Retail Sales -0.2%, as expected. The GBP rose. 1:30pm – USD – Core CPI 0.2%, as expected. 1:30pm – USD – Weekly Initial Jobless Claims 428K versus 410K expected. 3:00pm – USD – Philly Fed Manufacturing Index -17.5 versus -14.4 expected. The USD was mixed.
Friday, September 16th
2:00pm – USD – TIC Long-Term Purchases 9.5B versus 27.3B expected. 2:55pm – USD – Preliminary University of Michigan Consumer Sentiment 57.8 versus 56.2 expected. The USD was mixed.
Technical Recap for the Majors This Week EURUSD: Forecast: LowerActual: Higher from a 1.3586 open to a 1.3808 close. USDJPY: Forecast: Mildly LowerActual: Mildly lower from a 77.44 open to a 76.85 close. GBPUSD: Forecast: LowerActual: Mildly lower from a 1.5832 open to a 1.5818 close. AUDUSD: Forecast: LowerActual: Mildly lower from a 1.0430 open to a 1.0376 close. USDCAD: Forecast: HigherActual: Lower from a 0.9972 open to a 0.9836 close. NZDUSD: Forecast: LowerActual: Higher from a 0.8210 open to a 0.8330 close. More articles from ForexTraders….