By Michael Trinkle, ForexTraders Key Fundamental Forex Events and Forecasts for the Coming Week The following table lists the key economic data and other events that are due out during the week of October 10th -15th, with release times displayed for the GMT time zone. The list also includes the current market consensus forecast for each event and indicates what sort of deviation might affect the forex market valuation of the indicated currency positively. Monday, October 10th
11:30am AUD ANZ Job Advertisements (last -0.6%, > good for AUD)
Tuesday, October 11th
6:30pm EUR ECB President Trichet Speaks (hawkish = goof for EUR) 7:30pm GBP Manufacturing Production (-0.1%, > good for GBP) 11:15pm CAD Housing Starts (187K, > good for CAD)
Wednesday, October 12th
11:30am AUD Home Loans (1.1%, > good for AUD) 7:30pm GBP Claimant Count Change (24.4K, < good for GBP) 5:00am USD FOMC Meeting Minutes (hawkish = good for USD)
Thursday, October 13th
1:30am AUD Employment Change (10.1K, < good for AUD) 1:30am AUD Unemployment Rate (5.3%, < good for AUD) Tentative CNY Trade Balance (17.1B) 1:30pm CAD Trade Balance (-0.9B, > good for CAD) 1:30pm USD Trade Balance (-46.2B, > good for USD) 1:30pm USD Weekly Initial Jobless Claims (407K, < good for USD)
Friday, October 14th
3:00am CNY CPI (6.1%) Start ALL First day of G20 Meetings 1:30pm USD Core Retail Sales (0.2%, > good for USD) 1:30pm USD Retail Sales (0.5%, > good for USD) 2:55am USD Preliminary University of Michigan Consumer Sentiment (60.2, > good for USD)
Saturday, October 15th
End ALL Second day of G20 Meetings, communiqué expected.
Technical Forecast and Levels to Watch for the Majors This Week EURUSD: Higher Resistance: Initial: 1.3450, 1.3494, 1.3520/24, 1.3566, 1.3586, 1.3689, 1.3720, 1.3743 and 1.3796. Above: 1.3936, 1.3972, 1.4103, 1.4147, 1.4258, 1.4279, 1.4327 and 1.4499/1.4503. Support: Initial: 1.3384, .13362, 1.3333, 1.3241/44, 1.3145, 1.3055, 1.3000, 1.2968 and 1.2873. Below: 1.2733, 1.2643 and 1.2586. USDJPY: Mildly Higher Resistance: Initial: 76.88/77.06, 77.19/37, 77.71, 77.85, 78.02, 78.66, 79.05, 79.40 and 80.00.Above: 80.22, 80.82, 81.34, 81.76, 82.01/22, 82.77, 83.09 and 83.77. Support: Initial: 76.50/69, 76.32, 76.25, 76.14, 76.10 and 75.94.Below: 75.00 and 70.00 likely. GBPUSD: Higher Resistance: Initial: 1.5632, 1.5644, 1.5664, 1.5685, 1.5705, 1.5714, 1.5745, 1.5839, 1.5867, 1.5883, 1.5912/19, 1.5951 and 1.6000.Above: 1.6037, 1.6081, 1.6130, 1.6204/06, 1.6252/59, 1.6332/47, 1.6434/52 and 1.6500/98. Support: Initial: 1.5525/31, 1.5483, 1.5422, 1.5373, 1.5339/55, 1.5326, 1.5293, 1.5270 and 1.5123.Below: 1.5000, 1.4947, 1.4872, 1.4785/97, 1.4500, 1.4474, 1.4345 and 1.4229. AUDUSD: Higher Resistance:Initial: 0.9842/76, 0.9953, 0.9984, 1.0000, 1.0077, 1.0146, 1.0176, 1.0296, 1.0310, 1.0347, 1.0360, 1.0373/96, 1.0473, 1.0481 and 1.0511.Above: 1.0564/70, 1.0599, 1.0624, 1.0633, 1.0659, 1.0683/93, 1.0718/26, 1.0763, 1.0784, 1.0909, 1.1000/15, and 1.1064/79. Support: Initial: 0.9732, 0.9689, 0.9667, 0.9651, 0.9620/27, 0.9536/41, 0.9500, 0.9462, 0.9386, 0.9330 and 0.9220.Below: 0.9077, 0.9000, 0.8870, 0.8858, 0.8632, 0.8550 and 0.8066/81. USDCAD: Lower Resistance:Initial: 1.0417, 1.0481/90, 1.0500, 1.0506, 1.0646/56, and 1.0669.Above: 1.0742, 1.0756, 1.0785, 1.0853, 1.0868, 1.1000, and 1.1101/23. Support: Initial: 1.0322, 1.0255, 1.0233/36, 1.0208, 1.0139, 1.0088, 1.0057, 1.0030, 1.0008, 0.9939/1.0030, 0.9828/77, 0.9763/96, 0.9734/39 and 0.9724.Below: 0.9686, 0.9645, 0.9567, 0.9526, 0.9496, 0.9448/56, 0.9422, 0.9405/09, 0.9056 and 0.9000. NZDUSD: Higher Resistance:Initial: 0.7716, 0.7750/54, 0.7795, 0.7816, 0.7851, 0.7892, 0.7950/62, 0.8000/44, 0.8060/93, 0.8109/19, 0.8126/40 and 0.8150/90.Above: 0.8269/78, 0.8327/39, 0.8365/86, 0.8423, 0.8469/72, 0.8500, 0.8534/75, 0.8676, 0.8764, 0.8793 and 0.8841. Support: Initial: 0.7672, 0.7626/35, 0.7605, 0.7549, 0.7523, 0.7504, 0.7500, 0.7453/67, 0.7426, 0.7404, 0.7342 and 0.7321. Below: 0.7189, 0.7115, 0.7000 and 0.6945/62. More articles from ForexTraders….