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 26th – December 30th, 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, December 25th
All Day NZD Bank Holiday All Day AUD Bank Holiday
Monday, December 26th
All Day CHF Bank Holiday All Day EUR German Bank Holiday All Day EUR Italian Bank Holiday All Day GBP Bank Holiday All Day CAD Bank Holiday All Day USD Bank Holiday All Day NZD Bank Holiday All Day AUD Bank Holiday 11:50pm JPY Monetary Policy Meeting Minutes (hawkish = good for JPY)
Tuesday, December 27th
7:00am CHF UBS Consumption Indicator (last 0.91, > good for CHF) All Day GBP Bank Holiday All Day CAD Bank Holiday 2:00pm USD S&P/CS Composite-20 HPI (-3.2%, > good for USD) 3:00pm USD CB Consumer Confidence (58.5, > good for USD) 11:30pm JPY Household Spending (-1.1%, > good for JPY) 11:30pm JPY Tokyo Core CPI (-0.4%, > good for JPY) 11:50pm JPY Preliminary Industrial Production (-0.7%, > good for JPY) 11:50pm JPY Retail Sales (0.1%, > good for JPY)
Wednesday, December 28th
1:30am JPY Average Cash Earnings (0.1%, > good for JPY) 10:30am CHF KOF Economic Barometer (0.25, > good for CHF) Tentative USD Treasury Currency Report (hawkish = good for USD)
Thursday, December 29th
All Day EUR German Preliminary CPI (0.8%, > good for EUR) 9:00am EUR M3 Money Supply (2.5%, > good for EUR) 1:30pm USD Unemployment Claims (370K, < good for USD) 2:45pm USD Chicago PMI (60.4, > good for USD) 3:00pm USD Pending Home Sales (1.4%, > good for USD) 4:00pm USD Crude Oil Inventories (last -10.6M, > good for USD)
Friday, December 30th
12:30am AUD Private Sector Credit (0.3%, > good for AUD) 2:30am CNY HSBC Final Manufacturing PMI (last 49.0) 7:00am GBP Nationwide HPI (0.3%, > good for GBP)
Technical Forecast and Levels to Watch for the Majors This Week EURUSD: Lower Resistance:Initial: 1.3145, 1.3197, 1.3211, 1.3241/58, 1.3281, 1.3334, 1.3362, 1.3433, 1.3458, 1.3486, 1.3495 and 1.3546/68.Above: 1.3614, 1.3795/98, 1.3813/27, 1.3854/58, 1.3868, 1.3973, 1.4054, 1.4246 and 1.4548. Support:Initial: 1.3055, 1.3000, 1.2983, 1.2968, 1.2957, 1.2946 and 1.2917.Below: 1.2873, 1.2643, 1.2586 and 1.1876. USDJPY: Mildly Higher Resistance:Initial: 78.06/16, 78.22, 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: 77.61/89, 77.48/49, 77.29, 77.13, 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: Mildly Lower Resistance:Initial: 1.5685, 1.5691, 1.5717, 1.5735/45, 1.5770/74, 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: 1.5624/29, 1.5557/85, 1.5531/37, 1.5516, 1.5483, 1.5465, 1.5422, 1.5410, 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: Higher Resistance:Initial: 1.0216, 1.0224/29, 1.0303/78 and 1.0444/98.Above: 1.0608, 1.0654, 1.0718/84, 1.1010 and 1.1079. Support:Initial: 1.0100/16, 1.0045/52, 1.0027, 1.0000, 0.9925/83, 0.9900, 0.9861/63, 0.9732, 0.9689, 0.9661/67, 0.9651, 0.9620/27, 0.9536/41, 0.9500.Below: 0.9486, 0.9386, 0.9341 and 0.9220. USDCAD: Mildly Lower Resistance:Initial: 1.0199, 1.0207, 1.0221, 1.0232, 1.0262/87, 1.0297, 1.0302, 1.0334/37, 1.0415/23, 1.0438, 1.0481, 1.0500, 1.0506 and 1.0522.Above: 1.0646/56, 1.0669, 1.0742, 1.0756, 1.0785.1.0853, 1.0868, 1.1000 and 1.1101/23. Support:Initial: 1.0172, 1.0105/42, 1.0026/78, 0.9969 and 0.9934.Below: 0.9891, 0.9828/77, 0.9724/96, 0.9686 and 0.9645. NZDUSD: Higher Resistance:Initial: 0.7741, 0.7761, 0.7773, 0.7795, 0.7804, 0.7827/36, 0.7855/59 and 0.7878/88.Above: 0.7955/96, 0.8066/93, 0.8109/90 and 0.8240. Support:Initial: 0.7723, 0.7605/72, 0.7568, 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….