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 December 5th – December 9th, 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, December 5th
12:30am AUD ANZ Job Advertisements (last -0.7%) 9:30am GBP Services PMI (50.6) 3:00pm USD ISM Non-Manufacturing PMI (53.6)
Tuesday, December 6th
3:30am AUD Cash Rate (4.25%) 3:30am AUD RBA Rate Statement 8:00am CHF Foreign Currency Reserves (last 242.7B) 6th-7th GBP Halifax HPI (last 1.2%) 8:15am CHF CPI (0.1%) 1:30pm CAD Building Permits (3.2%) 2:00pm CAD BOC Rate Statement 2:00pm CAD Overnight Rate (1.00%) 3:00pm CAD Ivey PMI (55.1)
Wednesday, December 7th
12:30am AUD GDP (1.2%) 9:30am GBP Manufacturing Production (-0.1%) 8:00pm NZD Official Cash Rate (2.50%) 8:00pm NZD RBNZ Press Conference 8:00pm NZD RBNZ Rate Statement
Thursday, December 8th
12:30am AUD Employment Change (10.6K) 12:30am AUD Unemployment Rate (5.2%) 12:00pm GBP Asset Purchase Facility (275B) 12:00pm GBP Official Bank Rate (0.50%) Tentative GBP MPC Rate Statement 12:45pm EUR Minimum Bid Rate (1.25%) 1:15pm CAD Housing Starts (203K) 1:30pm EUR ECB Press Conference 1:30pm USD Weekly Initial Jobless Claims (397K)
Friday, December 9th
1:30am CNY CPI (4.6%) All Day EUR EU Economic Summit 9:30am GBP PPI Input (0.3%) 1:30pm CAD Trade Balance (0.8B) 1:30pm USD Trade Balance (-43.5B) 2:55pm USD Preliminary University of Michigan Consumer Sentiment (65.6)
Technical Forecast and Levels to Watch for the Majors This Week EURUSD: Lower Resistance:Initial: 1.3495, 1.3546/68, 1.3614, 1.3795/98 and 1.3813/27.Above: 1.3854/58, 1.3868, 1.3973, 1.4054, 1.4246 and 1.4548. Support:Initial: 1.3362, 1.3333, 1.3241/58, 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: 78.28, 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: 77.78/89, 77.48, 77.29, 77.00, 76.83, 76.57, 76.41, 76.10, 75.94 and 75.70.Below: 75.65, 75.56, plus 75.00 and 70.00 likely. GBPUSD: Lower Resistance:Initial: 1.5624/85, 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: 1.5516/31, 1.5483, 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: Lower Resistance:Initial: 1.0229, 1.0303/70, 1.0444/98, 1.0608, 1.0654 and 1.0718/84.Above: 1.1010 and 1.1079. Support:Initial: 1.0184, 1.0100/16, 1.0052, 1.0000, 0.9925/83, 0.9863 and 0.9732.Below: 0.9689, 0.9661/67, 0.9651, 0.9620/27, 0.9536/41, 0.9500, 0.9486, 0.9386, 0.9341 and 0.9220. USDCAD: Mildly Higher Resistance:Initial: 1.0221, 1.0262/87, 1.0302, 1.0337, 1.0417, 1.0438, 1.0481, 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: 1.0172/99, 1.0132/42, 1.0105, 1.0026/78, 0.9969 and 0.9934.Below: 0.9891, 0.9828/77, 0.9724/96, 0.9686 and 0.9645. NZDUSD: Lower Resistance:Initial: 0.7804, 0.7836, 0.7855/59 and 0.7881/88.Above: 0.7955/96, 0.8066/93, 0.8109/90 and 0.8240. Support:Initial: 0.7795, 0.7761, 0.7723/41, 0.7605/72, 0.7500/52, 0.7404/67, 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….