By Michael Trinkle, ForexTraders Key Fundamental Forex Events for the Week of January 30th through February 3rd The following table lists the key economic data and other events that came out during the week of January 30th through February 3rd, with release times displayed for the GMT time zone. The list also indicates how much each release deviated from the market consensus forecast upon release, as well as what the affected major currency pair or pairs did after each event or set of events. Monday, January 30th
9:45pm NZD Building Consents 2.1% versus last -6.4% expected. The currency fell.
Tuesday, January 31st
1:30pm CAD GDP -0.1% versus 0.2% expected. The currency fell. 3:00pm USD CB Consumer Confidence 61.1 versus 68.4 expected. The currency mostly rose.
Wednesday, February 1st
1:00am CNY Manufacturing PMI 50.5 versus 49.8 expected. 8:15am CHF Retail Sales 0.6% versus 1.6% expected. The currency rose. 9:30am GBP Manufacturing PMI 52.1 versus 50.2 expected. The currency rose. 1:15pm USD ADP Non-Farm Employment Change 170K versus 193K expected. 3:00pm USD ISM Manufacturing PMI 54.1 versus 54.6 expected. The currency fell overall.
Thursday, February 2nd
12:30am AUD Building Approvals -1.0% versus 2.3% expected. 12:30am AUD Trade Balance 1.71B versus 1.23B expected. The currency rose. 9:30am GBP Construction PMI 51.4 versus 53.0 expected. The currency fell. 1:30pm USD Weekly Initial Jobless Claims 367K versus 371K expected. 3:00pm USD Fed Chairman Bernanke testified, saying that, “Globally, economic activity appears to be slowing, restrained in part by spillovers from fiscal and financial developments in Europe. The combination of high debt levels and weak growth prospects in a number of European countries has raised significant concerns about their fiscal situations, leading to substantial increases in sovereign borrowing costs, concerns about the health of European banks, and associated reductions in confidence and the availability of credit in the euro area.” The currency was mixed.
Friday, February 3rd
9:30am GBP Services PMI 56.0 versus 53.6 expected. The currency fell. 12:00pm CAD Employment Change 2.3K versus 23.5K expected. 12:00pm CAD Unemployment Rate 7.6% versus 7.5% expected. The currency rose. 1:30pm USD Non-Farm Employment Change 243K versus 156K expected. 1:30pm USD Unemployment Rate 8.3% versus 8.5% expected. 3:00pm USD ISM Non-Manufacturing PMI 56.8 versus 53.2 expected. The currency was mixed.
Technical Recap for the Majors This Week EURUSD: Forecast: HigherActual: Lower from a 1.3221 open to a 1.3105 close. USDJPY: Forecast: LowerActual: Mildly lower from a 76.67 open to a 76.59 close. GBPUSD: Forecast: Mildly HigherActual: Mildly higher from a 1.5732 open to a 1.5793 close. AUDUSD: Forecast: Mildly HigherActual: Higher from a 1.0637 open to a 1.0765 close. USDCAD: Forecast: LowerActual: Mildly lower from a 1.0009 open to a 0.9951 close. NZDUSD: Forecast: Mildly HigherActual: Higher from a 0.8230 open to a 0.8364 close. More articles from ForexTraders….