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Weekly Market View

Keep your eyes open for the interest rate decisions and the big Non−Farm Payrolls

Fri, Nov 30 2007, 16:25 GMT
by Tatsuya Kawanishi

FXstreet.com

The Week Ahead (Dec 3rd to Dec 7th )

The week (Dec 3rd to Dec 7th) has many significant events. On schedule we have 5 interest rate announcements in sequence of the BoC, the RBA, the RBNZ, the BoE and theECB, the German PMI, the US ISM, and the big Nonfarm Payrolls (NFP) on Friday, which will generate extreme volatility for the USD against the other majors. We continue to pay extra attention to the 4 majors. Let's review them all.

On Monday (Dec 3rd) we have the following events to watch:
In Australia,Trading Blance ( Previous -1.9B ) is scheduled at 0:30GMT. Be aware OZ traders.
In the Euro-Zone, PMIs from European countires are scheduled in the European morning, followed by Switzerland ( Previous 60.7 ), Germany ( Previous 51.7) , the Euro-Zone ( Previous 52.6 ) and the UK ( Previous 52.9 ).
In the US, ISM Manufacturing ( Previous 50.9 ) is one of the remarkable events to watch.

On Tuesday (Dec 4th) we have the following events to watch:
In Australia, Retail Sales ( Previous 0.8% ) and RBA Interest Rate Decision ( Current 6.75% ) are importatns events to follow. Please be aware that the Rate Decision is released at 22:30 GMT.
In the Euro-Zone, Producer Price Index ( Previous 0.4% ) is released at 10:00 GMT.
In Canada, BoC Interest Rate Decision ( Current 4.50% ) is released at 14:00 GMT. Be aware USD/CAD traders.

On Wednesday (Dec 5th) we have the following events to watch:
In Germany, Consumer Confidence is scheduled at 1:00GMT.
In the Euro-Zone, Retail Sales ( Previous 0.3% ) is released at 10:00 GMT.
BoJ interest rate decision ( previous 0.50% ) and the Fed interest rate decision ( previous 4.75% ) are released in sequence. We should keep eyes open on how the Fed considers the depreciated USD.
In New Zealand, RBNZ releases the Interest Rate ( Current 8.25% ) at 20:00 GMT. Be aware NZD traders.

On Tursday (Dec 6th) we have the following events to watch:
In Switzerland, Unemployment Rate ( Previous 2.6% )
In the UK,Industrial Production ( Previous -0.4% ) is an event to follow.
In Germany, Factory Order is scheduled at 11:00 GMT.
In the Euro-Zone, BoE interest rate decision ( previous 5.75% 12:00 GMT) and the ECB interest rate decision ( 4.00% 12:45GMT) are released in sequence.
The president of the ECB Trichet will have a press conference after the release at 13:30GMT.
We should keep eyes open on how the ECB considers the recent value of EUR.
In Japan, GDP ( previous 0.6% ) is scheduled at 23:50.

On Friday (Dec 7th) we have the biggest day of the week with the following events:
NSER GDP Estimate ( previous 0.7%) is a highly reliable economic data and can influence the U.K.monetary policy.
In Canada, Unemployment rate ( 5.8% ) is released at 12:00 GMT. Be aware USD/CAD traders.
In the US, the Unemployment Rate ( previous 4.7% ), Non-Farm Payrolls (NFP. Previous 166k ), the average hourly earnings ( previous 0.2% ) and the average weekly earning are the events to watch, especially the "Non-Farm payrolls (NFP)", which is expected to have a big impact on the USD against the other majors.
All of the events are released at 13:30 GMT.

Published on  Fri, Nov 30 2007, 16:29 GMT

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