There are some very high-impact news items scheduled this week, primarily affecting the U.S. Dollar which is the most important currency in the Forex market. Therefore, volatility this week should be considerably higher than it has been over the past few weeks.
The market will probably be most active on Wednesday and Friday, with the release of the FOMC Meeting Minutes on Wednesday and Non-Farm Payrolls data on Friday. There is also a G20 meeting at the end of the week.
Monday is a public holiday in Canada and Tuesday is a public holiday in the U.S.A.
U.S. Dollar
It will be a very important week for the greenback, starting on Monday with ISM Manufacturing PMI data. Tuesday is a public holiday. Wednesday will see the release of the FOMC Meeting Minutes. On Thursday, we will get the ADP Non-Farm Employment Change, Unemployment Claims numbers, ISM Non-Manufacturing PMI and Crude Oil Inventories. Finally, Friday will see the release of Average Hourly Earnings data, the Non-Farm Employment Change, Unemployment Rate, and the biannual Fed Monetary Policy Report.
British Pound
It will be a reasonably busy week for the Pound, starting on Monday with a release of Manufacturing PMI data and a speech by the Governor of the Bank of England. Tuesday sees the release of Construction PMI numbers. On Wednesday, we will get Services PMI data. Finally, Friday will see the release of Manufacturing Production data.
Chinese Yuan
There will be a release of Caixin Manufacturing PMI data on Monday.
Australian Dollar
It will be a reasonably important week for the Aussie, with the Reserve Bank of Australia’s Rate Statement, and Retail Sales data both due on Tuesday. There will be a release of Trade Balance data on Thursday.
Canadian Dollar
It will be a quiet week for the Loonie after Monday’s public holiday. Thursday sees the release of Trade Balance data. Friday brings releases of Employment Change and Unemployment Rate numbers.
Leave A Comment