By Michael Trinkle, ForexTraders Key Fundamental Forex Events for the Week of September 19th through September 23rd The following table lists the key economic data and other events that came out during the week of September 19th through September 23rd, 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 19th
12:01am GBP Rightmove HPI 0.7% versus -2.1% previous. The GBP fell.
Tuesday, September 20th
2:30am AUD Monetary Policy Meeting Minutes noted that, “Overall, the near-term growth outlook looked weaker than had been expected earlier, but the medium-term outlook still appeared positive, providing the world economic outlook did not continue to deteriorate.” The AUD rose. 10:00am EUR German ZEW Economic Sentiment -43.3 versus -43.9 expected. The EUR rose. 1:30pm USD Building Permits 0.62M versus 0.60M expected. The USD was mixed. 11:45pm NZD Current Account -0.92B versus -0.69B expected. The NZD fell.
Wednesday, September 21st
9:30am GBP MPC Meeting Minutes vote was 0-0-9, as expected. The Minutes noted that, “For some members, a continuation of the condition seen over the past month would probably be sufficient to justify an expansion of the asset purchase program at a subsequent meeting.” 9:30am GBP Public Sector Net Borrowing 13.2B versus 11.3B expected. The GBP fell. 12:00pm CAD Core CPI 0.4% versus 0.2% expected. The CAD fell. 3:00pm USD Existing Home Sales 5.03M versus 4.76M expected. 7:15pm USD FOMC Statement noted that, “there are significant downside risks to the economic outlook, including strains in global financial markets.” The USD rose. 11:45pm NZD GDP versus 0.5% expected. The NZD fell.
Thursday, September 22nd
3:30am CNY HSBC Flash Manufacturing PMI 49.4 versus 49.9 expected. 1:30pm CAD Core Retail Sales 0.0% versus 0.2% expected. The CAD fell. 1:30pm USD Weekly Initial Jobless Claims 423K versus 418K expected. The USD rose.
Friday, September 23rd
2:30am AUD RBA Financial Stability Review noted that, “Given that household net worth declined in the wake of renewed volatility in global financial markets, the prevailing mood of caution appears unlikely to lift in the near term.” The AUD rose. All Day ALL IMF Meetings noted that, “There is a risk that the sovereign debt crisis of some countries becomes another financial crisis. We eased the 2008 crisis by fast and coordinated actions within the G20. We need to do the same now.” 9:30pm EUR ECB President Trichet has not yet spoken.
Technical Recap for the Majors This Week EURUSD: Forecast: LowerActual: Lower from a 1.3690 open to a 1.3504 close. USDJPY: Forecast: Mildly LowerActual: Mildly lower from a 76.91 open to a 76.16 close. GBPUSD: Forecast: LowerActual: Lower from a 1.5730 open to a 1.5452 close. AUDUSD: Forecast: HigherActual: Lower from a 1.0300 open to a 0.9796 close. USDCAD: Forecast: LowerActual: Higher from a 0.9811 open to a 1.0259 close. NZDUSD: Forecast: HigherActual: Lower from a 0.8237 open to a 0.7818 close. More articles from ForexTraders….