Executive Summary
This week’s U.S. key economic numbers include CPI (Market forecast = 0.1%, higher benefits currency), Core CPI (Market forecast = 0.2%, higher benefits currency) and Building Permits (Market forecast = 1.00M, higher benefits currency) due out on Tuesday. The FOMC Meeting Minutes released on Wednesday, will most likely have the most impact on the Greenback, while Initial Jobless Claims (Market forecast = 299K, lower benefits currency) and Existing Home Sales are set to be released on Thursday (Market forecast = 5.01M, higher benefits currency); also, a speech by Fed Chair Janet Yellen is scheduled for Friday. In addition to the economic data and speeches, the Kansas City Fed’s Jackson Hole Economic Symposium is scheduled to begin on Thursday and will run until Saturday.
Important Eurozone events include the Bundesbank’s Monthly Report out on Monday; On Thursday, French Manufacturing PMI (Market forecast = 47.9, higher benefits currency), German Flash Manufacturing PMI (Market forecast = 51.8, higher benefits currency) French Flash Services PMI (Market forecast = 53.6, higher benefits currency) and German Flash Services PMI (Market forecast = 55.5, higher benefits currency) will all have a considerable impact on the Euro; Also affecting the Euro will be a speech by ECB President Draghi on Friday.
Highlighted economic releases for the UK begin on Tuesday, with CPI (Market forecast = 1.8%, higher benefits currency), PPI Input (Market forecast = -0.8%, higher benefits currency) and RPI (Market forecast = 2.6%, higher benefits currency), and the MPC Monetary Policy Meeting minutes which will probably be have the most impact on Sterling is set to be released on Wednesday.
Thursday will have Public Sector Net Borrowing (Market forecast = 10.1B, lower benefits currency) and Retail Sales (Market forecast = 0.4%, higher benefits currency). Switzerland’s most important economic release next week is the Swiss Trade Balance (Market forecast = 1.91B, higher benefits currency), due out on Thursday.
Australian economic data next week include New Motor Vehicle Sales on Monday (Market forecast = 1.7%, higher benefits currency). The highest impact next week will probably be the RBA’s Monetary Policy Meeting Minutes on Tuesday. On Wednesday, a speech by the RBA’s Governor Stevens and the CB Leading Index (Market forecast = 0.2%, higher benefits currency), expected on Thursday.
Canadian economic numbers to watch next week include: Foreign Securities Purchases on Monday (Market forecast = 14.68B, higher benefits currency); Wholesale Sales on Wednesday (Market forecast = 1.3%, higher benefits currency); the highest impact for the Loonie will most likely be on Friday, with Core CPI (Market forecast = 0.0%, higher benefits currency), Core Retail Sales (Market forecast = 0.6%, higher benefits currency), CPI (Market forecast = -0.1%, higher benefits currency) and Retail Sales (Market forecast = 0.6%, higher benefits currency).
New Zealand data highlights include PPI Input (Market forecast = 0.7%, higher benefits currency) on Monday and Inflation Expectations (Market forecast = 2.4%, higher benefits currency) on Tuesday.
Top Policymaker Speeches and Statements for the Coming Week
Upcoming speeches and statements from top monetary policymakers are listed below for this week, along with their start time in the GMT time zone and the affected currency. Unexpectedly hawkish comments will generally benefit the relevant currency.
Monday, August 18th, 2014
Thursday, August 21st, 2014
Friday, August 22nd, 2014
Saturday, August 23rd, 2014
Technical Chart Points and Forecast Market View by Currency Pair
This week’s U.S. key economic numbers include CPI (Market forecast = 0.1%, higher benefits currency), Core CPI (Market forecast = 0.2%, higher benefits currency) and Building Permits (Market forecast = 1.00M, higher benefits currency) due out on Tuesday. The FOMC Meeting Minutes released on Wednesday, will most likely have the most impact on the Greenback, while Initial Jobless Claims (Market forecast = 299K, lower benefits currency) and Existing Home Sales are set to be released on Thursday (Market forecast = 5.01M, higher benefits currency); also, a speech by Fed Chair Janet Yellen is scheduled for Friday. In addition to the economic data and speeches, the Kansas City Fed’s Jackson Hole Economic Symposium is scheduled to begin on Thursday and will run until Saturday.
Important Eurozone events include the Bundesbank’s Monthly Report out on Monday; On Thursday, French Manufacturing PMI (Market forecast = 47.9, higher benefits currency), German Flash Manufacturing PMI (Market forecast = 51.8, higher benefits currency) French Flash Services PMI (Market forecast = 53.6, higher benefits currency) and German Flash Services PMI (Market forecast = 55.5, higher benefits currency) will all have a considerable impact on the Euro; Also affecting the Euro will be a speech by ECB President Draghi on Friday.
Highlighted economic releases for the UK begin on Tuesday, with CPI (Market forecast = 1.8%, higher benefits currency), PPI Input (Market forecast = -0.8%, higher benefits currency) and RPI (Market forecast = 2.6%, higher benefits currency), and the MPC Monetary Policy Meeting minutes which will probably be have the most impact on Sterling is set to be released on Wednesday.
Thursday will have Public Sector Net Borrowing (Market forecast = 10.1B, lower benefits currency) and Retail Sales (Market forecast = 0.4%, higher benefits currency). Switzerland’s most important economic release next week is the Swiss Trade Balance (Market forecast = 1.91B, higher benefits currency), due out on Thursday.
Australian economic data next week include New Motor Vehicle Sales on Monday (Market forecast = 1.7%, higher benefits currency). The highest impact next week will probably be the RBA’s Monetary Policy Meeting Minutes on Tuesday. On Wednesday, a speech by the RBA’s Governor Stevens and the CB Leading Index (Market forecast = 0.2%, higher benefits currency), expected on Thursday.
Canadian economic numbers to watch next week include: Foreign Securities Purchases on Monday (Market forecast = 14.68B, higher benefits currency); Wholesale Sales on Wednesday (Market forecast = 1.3%, higher benefits currency); the highest impact for the Loonie will most likely be on Friday, with Core CPI (Market forecast = 0.0%, higher benefits currency), Core Retail Sales (Market forecast = 0.6%, higher benefits currency), CPI (Market forecast = -0.1%, higher benefits currency) and Retail Sales (Market forecast = 0.6%, higher benefits currency).
New Zealand data highlights include PPI Input (Market forecast = 0.7%, higher benefits currency) on Monday and Inflation Expectations (Market forecast = 2.4%, higher benefits currency) on Tuesday.
Top Policymaker Speeches and Statements for the Coming Week
Upcoming speeches and statements from top monetary policymakers are listed below for this week, along with their start time in the GMT time zone and the affected currency. Unexpectedly hawkish comments will generally benefit the relevant currency.
Monday, August 18th, 2014
- 11:00am EUR German Buba Monthly Report.
- 2:30am AUD Monetary Policy Meeting Minutes.
- 12:30am AUD RBA Governor Stevens speaks.
- 7:00pm USD FOMC Meeting Minutes.
Thursday, August 21st, 2014
- Day 1 ALL Jackson Hole Symposium.
Friday, August 22nd, 2014
- 3:00pm USD Fed Chair Yellen speaks.
- Day 2 ALL Jackson Hole Symposium.
- 7:30pm EUR ECB President Draghi speaks.
Saturday, August 23rd, 2014
- Day 3 ALL Jackson Hole Symposium.
Technical Chart Points and Forecast Market View by Currency Pair
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