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 24th – 28th, 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. Sunday, October 23rd
All Day EUR EU Economic Summit
Monday, October 24th
1:30am AUD PPI (0.6%, > good for AUD) 3:30am CNY HSBC Flash Manufacturing PMI (51.1) 10:45pm NZD CPI (0.8%, > good for NZD)
Tuesday, October 25th
9:30am GBP Current Account (-9.9B, > good for GBP) 9:45am GBP BOE Governor King speaks (hawkish = good for GBP) 1:30pm CAD Core Retail Sales (0.4%, > good for CAD) 2:00pm CAD BOC Rate Statement (hawkish = good for CAD) 2:00pm CAD Overnight Rate (1.00%, > good for CAD) 3:00pm USD CB Consumer Confidence (46.2, > good for USD)
Wednesday, October 26th
1:00am NZD NBNZ Business Confidence (last 34.4, > good for NZD) 1:30am AUD CPI (0.7%, > good for AUD) 1:30pm USD Core Durable Goods Orders (0.5%, > good for USD) 3:00pm USD New Home Sales (302K, > good for USD) 3:30pm CAD BOC Monetary Policy Report (hawkish = good for CAD) 4:15pm CAD BOC Press Conference (hawkish = good for CAD) 9:00pm NZD Official Cash Rate (2.50%, > good for NZD) 9:00pm NZD RBNZ Rate Statement (hawkish = good for NZD)
Thursday, October 27th
Tentative JPY Monetary Policy Statement (hawkish = good for JPY) Tentative JPY Overnight Call Rate (<0.10%, > good for JPY) Tentative JPY BOJ Press Conference (hawkish = good for JPY) 1:30pm USD Advance GDP (2.4%, > good for USD) 1:30pm USD Weekly Initial Jobless Claims (404K, < good for USD) 3:00pm USD Pending Home Sales (0.2%, > good for USD)
Friday, October 28th
10:30am CHF KOF Economic Barometer (1.01, > good for CHF)
Technical Forecast and Levels to Watch for the Majors This Week EURUSD: Higher Resistance: Initial: 1.3893, 1.3913, 1.3936, 1.3972, 1.4103, 1.4147, 1.4258 and 1.4279.Above: 1.4327, 1.4499/1.4503, 1.4548/74, 1.4695 and 1.4939. Support: Initial: 1.3796, 1.3720/43, 1.3652/97,1.3565, 1.3520/24, 1.3450 and 1.3360.Below: 1.3333, 1.3241/44, 1.3145, 1.3055, 1.3000, 1.2968, 1.2873, 1.2733, 1.2643 and 1.2586. USDJPY: Mildly Lower Resistance: Initial: 76.52, 77.19/48, 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: 76.25, 76.14, 76.10, 75.94 and 75.80.Below: 75.00 and 70.00 likely. GBPUSD: Higher Resistance: Initial: 1.5960, 1.6000, 1.6037, 1.608, 1.6109 and 1.6130.Above: 1.6204/06, 1.6252/59, 1.6332/47, 1.6434/73, 1.6500/98 and 1.6616. Support: Initial: 1.5912/19, 1.5883, 1.5839/67, 1.5630/85, 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: 1.0369/96, 1.0473, 1.0481, 1.0511, 1.0564/70, 1.0599, 1.0624, 1.0633, 1.0659 and 1.0683/93.Above: 1.0718/26, 1.0763, 1.0784, 1.0909, 1.1000/15, and 1.1064/79. Support: Initial: 1.0229, 1.0116, 1.0100, 1.0012, 0.9983, 0.9925, 0.9863, 0.9732, 0.9689, 0.9667, 0.9651, 0.9620/27, 0.9536/41 and 0.9500.Below: 0.9462, 0.9386, 0.9330, 0.9220, 0.9077, 0.9000, 0.8870, 0.8858, 0.8632, 0.8550 and 0.8066/81. USDCAD: Lower Resistance:Initial: 1.0132/42, 1.0233, 1.0262/71, 1.0337, 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: 1.0042, 0.9939/1.0030, 0.9828/77, 0.9763/96, 0.9734/39, 0.9724, 0.9686 and 0.9645.Below: 0.9567, 0.9526, 0.9496, 0.9448/56, 0.9422, 0.9405/09, 0.9056 and 0.9000. NZDUSD: Higher Resistance:Initial: 0.8066/93, 0.8109/19, 0.8126/40, 0.8150/90, 0.8269/78, 0.8327/39, 0.8365/86, 0.8423 and 0.8469/72.Above: 0.8500, 0.8534/75, 0.8676, 0.8764, 0.8793 and 0.8841. Support: Initial: 0.7955/94, 0.7888, 0.7855/59, 0.7795, 0.7741, 0.7605/72, 0.7549, 0.7523, 0.7504, 0.7500, 0.7453/67, 0.7426 and 0.7404. Below: 0.7342, 0.7321, 0.7189, 0.7115, 0.7000 and 0.6945/62. More articles from ForexTraders….