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 November 28th – December 2nd, 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, November 28th
12:00am NZD NBNZ Business Confidence (last 13.2, > good for NZD) 3:00pm GBP Inflation Report Hearings (hawkish = good for GBP) 3:00pm USD New Home Sales (313K, > good for USD)
Tuesday, November 29th
7:00am GBP Nationwide HPI (-0.1%, > good for GBP) 3:00pm USD CB Consumer Confidence (43.8, > good for USD) 9:45pm NZD Building Consents (last -17.1%, > good for NZD)
Wednesday, November 30th
12:30am AUD Private Capital Expenditure (8.2%, > good for AUD) 10:30am CHF KOF Economic Barometer (0.66, > good for CHF) 1:15pm USD ADP Non-Farm Employment Change (131K, > good for USD) 1:30pm CAD GDP (0.2%, > good for CAD) 3:00pm USD Pending Home Sales (1.3%, > good for USD)
Thursday, December 1st
12:30am AUD Building Approvals (3.6%, > good for AUD) 12:30am AUD Retail Sales (0.4%, > good for AUD) 1:00am CNY Manufacturing PMI (49.8) 1st-7th GBP Halifax HPI (1.2%, > good for GBP) 9:30am GBP Manufacturing PMI (47.2, > good for GBP) 1:30pm USD Weekly Initial Jobless Claims (390K, < good for USD) 3:00pm USD ISM Manufacturing PMI (51.6, > good for USD)
Friday, December 2nd
8:15am CHF Retail Sales (1.2%, > good for CHF) 9:30am GBP Construction PMI (52.2, > good for GBP) 12:00pm CAD Employment Change (17.2K, > good for CAD) 12:00pm CAD Unemployment Rate (7.3%, < good for CAD) 1:30pm USD Non-Farm Payrolls (119K, > good for USD) 1:30pm USD Unemployment Rate (9.0%, < good for USD)
Technical Forecast and Levels to Watch for the Majors This Week EURUSD: Mildly Lower Resistance:Initial: 1.3241/44, 1.3333 1.3360, 1.3411/83, 1.3495, 1.3557/68 and 1.3614Above: 1.3795/98, 1.3813/27, 1.3854/58, 1.3868 and 1.3973. Support:Initial: 1.3211, 1.3145, 1.3055 and 1.3000.Below: 1.2968, 1.2917, 1.2873, 1.2643 and 1.2586. USDJPY: Mildly Higher Resistance:Initial: 77.78/89, 78.66, 79.05, 79.40, 79.52, 79.96, 80.00, 80.22 and 80.82.Above: 81.34, 81.76, 82.01/22, 82.77, 83.09 and 83.77. Support:Initial: 77.48, 77.00, 76.83, 76.57, 76.41, 76.10, 75.94, 75.70, 75.65 and 75.56.Below: 75.00 and 70.00 likely. GBPUSD: Mildly Lower Resistance:Initial: 1.5483, 1.5516/31, 1.5630/85, 1.5691, 1.5745, 1.5868/90, 1.5912/19, 1.5932, 1.5945 and 1.5977.Above: 1.6000, 1.6093, 1.6130/65, 1.6206, 1.6259, 1.6332/47, 1.6434/73, 1.6500/98 and 1.6616. Support:Initial: 1.5422, 1.5373, 1.5339/55, 1.5326, 1.5293, 1.5270, 1.5123 and 1.5000.Below: 1.4947, 1.4782, 1.4769, 1.4474, 1.4345 and 1.4229. AUDUSD: Mildly lower Resistance:Initial: 0.9732, 0.9863, 0.9925/83, 1.0000, 1.0052, 1.0100/16, 1.0184, 1.0201/29 and 1.0303/70.Above: 1.0444/98, 1.0608, 1.0654 and 1.0718/84. Support:Initial: 0.9689, 0.9661/67, 0.9651, 0.9620/27, 0.9536/41, 0.9500 and 0.9486.Below: 0.9386, 0.9341, 0.9220, 0.9000, 0.8858 and 0.8577. USDCAD: Mildly Higher Resistance:Initial: 1.0500, 1.0506, 1.0522, 1.0646/56, 1.0669, 1.0742, 1.0756 and 1.0785.Above: 1.0853, 1.0868, 1.1000 and 1.1101/23. Support:Initial: 1.0481, 1.0438, 1.0417, 1.0337, 1.0302, 1.0262/87, 1.0210/33, 1.0172/99, 1.0132/42, 1.0105 and 1.0026/75.Below: 0.9969, 0.9934, 0.9891, 0.9828/77, 0.9724/96, 0.9686 and 0.9645. NZDUSD: Mildly lower Resistance:Initial: 0.7504, 0.7523, 0.7549/52, 0.7605/72, 0.7723/41, 0.7795, 0.7804, 0.7855/59 and 0.7881/88.Above: 0.7955/96, 0.8066/93, 0.8109/90 and 0.8240. Support:Initial: 0.7500, 0.7453/67, 0.7426, 0.7404, 0.7369, 0.7342 and 0.7321.Below: 0.7189, 0.7115, 0.7000, 0.6945/62, 0.6793 and 0.6560. More articles from ForexTraders….