Executive Summary
This week’s U.S. economic calendar is relatively sparse compared to the previous week and begins with Monday’s release of Existing Home Sales (+5.21M). No significant data is expected out on Tuesday, while Wednesday has New Home Sales (+432K). On Thursday, this week’s highlight for U.S. data includes Durable Goods Orders (-17.7%), and Core Durable Goods Orders (+0.7%), also, Weekly Initial Jobless Claims (294K). The week concludes with Final GDP (+4.6%) and the Revised University of Michigan’s Consumer Sentiment Index (85.1).
The Eurozone’s economic calendar begins with Monday’s tentative release of the German Bundesbank’s Monthly Report. On Tuesday, the week’s Eurozone economic highlights, which include French Flash Manufacturing PMI (47.1); German Flash Manufacturing PMI (51.3); Eurozone Flash Manufacturing PMI (50.6); French Flash Services PMI (50.2), German Flash Services PMI (54.6) and Eurozone Flash Services PMI (53.2). Wednesday’s only important European release is German Ifo Business Climate, while Thursday has Eurozone Private Loans (-1.5%) and the Eurozone M3 Money Supply (+1.9%). The week’s data releases end on Friday with GfK German Consumer Climate (8.5).
The Japanese economic calendar is sparse this week and begins with Flash Manufacturing PMI (52.5) on Wednesday, followed by SPPI (+3.7%) on Thursday and ends with Tokyo Core CPI (+2.7%) and National Core CPI (+3.2%) on Friday.
The UK economic calendar is relatively quiet compared to last week and begins on Tuesday with BBA Mortgage Approvals (+42.9K) and Public Sector Net Borrowing (+10.3B). The week concludes with Thursday’s release of Nationwide HPI (last +0.8%) and CBI Realized Sales (34).
Switzerland’s economic calendar will have only two minor economic releases on Wednesday: the UBS Consumption Indicator (last 1.66) and the SNB Quarterly Bulletin.
The Australian economic calendar is also quiet next week and is limited to Wednesday’s release of the CB Leading Index (last +0.4%) and the RBA Financial Stability Review.
Canadian economic data this week is limited to Tuesday’s release of Retail Sales (+0.4%) and Core Retail Sales (-0.1%).
New Zealand’s economic calendar begins on Monday with Westpac Consumer Sentiment (last 121.2) and ends with Tuesday’s release of the New Zealand Trade Balance (-1125M).
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.
Sunday, September 21st
- Day 2 ALL G20 Meetings
Monday, September 22nd
Tentative EUR German Buba Monthly Report
2:00pm EUR ECB President Draghi Speaks
3:05pm USD FOMC Member Dudley Speaks
6:00pm CAD Governing Council Member Wilkins Speaks
Tuesday, September 23rd
12:30am USD FOMC Member Kocherlakota Speaks
2:20pm USD FOMC Member Powell Speaks
7:00pm USD FOMC Member Kocherlakota Speaks
Wednesday, September 24th
2:30am AUD RBA Financial Stability Review
5:05pm USD FOMC Member Mester Speaks
Thursday, September 25th
- 3:30am AUD RBA Governor Stevens Speaks
Technical Chart Points and Forecast Market View by Currency Pair
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