High Impact Economic News for the Week of June 28st
Hello Traders. Hope all is well with you and your trades. The staff at Forex Club would like to wish you a great trading week. To help you nail each of your trades, we’d like to give you this breakdown of the high impact economic events occurring during the week of June 28th, 2009.
This week’s high impact events are going to start on Tuesday, June 30th at 3:00 GMT, with the National Bank of New Zealand’s Business Confidence. There is no forecast for this event, however actual results above 0 are seen as bullish for the NZD, while numbers below 0 are seen as bearish. After this event, traders should look out for the Nationwide House Price Index occurring at 6:00 GMT. This event will affect the GBP and will have a forecast of -0.4%. The GBP will later be affected at 8:30 GMT by the Current Account. The forecast for this event is -6.5B. If the actual amount for this event is greater than the forecasted amount, expect the GBP to strengthen. If the actual amount is less than -6.5B, expect the GBP to weaken. At 12:30 GMT, the CAD will be affected by Statistics Canada’s Gross Domestic Product. The forecast for this event is -0.1%. If the actual result is greater than the forecasted amount, expect the currency to strengthen. If the actual is less than the forecasted amount, expect the currency to weaken. At 14:00 GMT, the USD will be affected by the Conference Board’s Consumer Confidence. The forecast for this monthly event is 55. Like the events listed above, if the actual amount is greater than the forecasted amount, expect the USD to strengthen; a less than result will weaken the USD. The last event for Tuesday is the Tankan Manufacturing Index, which will affect JPY. The forecast for this event is -43. Past results for this event have been fairly pessimistic. Amounts greater than 0 indicate improving conditions, while amounts less than 0 indicated worsening conditions.
Canadian banks will be closed on Wednesday in observance of Canada Day. Wednesday July 1st’s high impact events will start at 1:30 (GMT) with Building Approvals and Retails sales, both of which will affect the AUD. Building Approvals has a forecast of 3.2%. Past actual amounts have been fairly favorable for the AUD. An actual amount greater than 3.2% will strengthen the AUD, a less than amount will weaken it. Retail Sales has a forecast of .05%. Unlike Building Approvals, the past results for this event are more mixed. At 8:30 GMT, expect the GBP to move due to Manufacturing PMI. The forecast for this event is 46.3. Actual amounts for this event have been optimistic for the GBP throughout the year of 2009. At 12:15 GMT, the USD will move due to Automatic Data Processing’s Non-Farm Employment Change. The forecast for this event is -385K. If the actual amount is greater than the forecasted amount, expect the USD to strengthen. If the actual amount is less than the forecasted amount, expect the USD to weaken. At 14:00, the USD will further be affected by the Institute for Supply Management Manufacturing PMI. The forecast for this event is 44.6. Past actual amounts have been optimistic since February 2009. At the same time, the USD will be affected by Pending Home Sales. The forecast for this event is 0.7%.
Thursday July 2nd’s high impact economic events will start at 1:30 GMT, with the Australian Bureau of Statistics’ Trade Balance. The forecast for this event is -0.10B. At 11:45 GMT, the EUR will move due to the Minimum Bid Rate. This event’s forecasted and actual amounts are typically the same. The forecast for this event is 1.00%. If the actual amount is greater than the forecasted amount, expect the AUD to strengthen. At 12:30 GMT, the European Central Bank will hold a Press Conference. Traders should watch for hints regarding the future monetary policy of the EUR. At the same time, the Bureau of Labor Statistics will be releasing Non-Farm Employment Change. This information has a tremendous effect on the USD. This month’s forecast is -345K. Expect much movement in the USD when this information is released. Also at this time, expect the USD to be further affected by Unemployment Claims and Unemployment Rate. The forecast for Unemployment Claims is 612K. If the actual amount is less than the forecasted amount, expect the USD to strengthen. Unemployment Rate’s forecast is 9.6%.
United States banks will be closed on July 3rd in observance of Independence Day. The only high impact economic event occurring on Friday is the Services PMI at 8:30 GMT, which will affect the GBP. The forecast for this event is 51.7. Past actual results have been optimistic for this event throughout the year of 2009.
We hope you research each of the events listed above and use them to your advantage. As always, Forex Club would like to wish you a healthy week filled with successful trades.
This week’s high impact events are going to start on Tuesday, June 30th at 3:00 GMT, with the National Bank of New Zealand’s Business Confidence. There is no forecast for this event, however actual results above 0 are seen as bullish for the NZD, while numbers below 0 are seen as bearish. After this event, traders should look out for the Nationwide House Price Index occurring at 6:00 GMT. This event will affect the GBP and will have a forecast of -0.4%. The GBP will later be affected at 8:30 GMT by the Current Account. The forecast for this event is -6.5B. If the actual amount for this event is greater than the forecasted amount, expect the GBP to strengthen. If the actual amount is less than -6.5B, expect the GBP to weaken. At 12:30 GMT, the CAD will be affected by Statistics Canada’s Gross Domestic Product. The forecast for this event is -0.1%. If the actual result is greater than the forecasted amount, expect the currency to strengthen. If the actual is less than the forecasted amount, expect the currency to weaken. At 14:00 GMT, the USD will be affected by the Conference Board’s Consumer Confidence. The forecast for this monthly event is 55. Like the events listed above, if the actual amount is greater than the forecasted amount, expect the USD to strengthen; a less than result will weaken the USD. The last event for Tuesday is the Tankan Manufacturing Index, which will affect JPY. The forecast for this event is -43. Past results for this event have been fairly pessimistic. Amounts greater than 0 indicate improving conditions, while amounts less than 0 indicated worsening conditions.
Canadian banks will be closed on Wednesday in observance of Canada Day. Wednesday July 1st’s high impact events will start at 1:30 (GMT) with Building Approvals and Retails sales, both of which will affect the AUD. Building Approvals has a forecast of 3.2%. Past actual amounts have been fairly favorable for the AUD. An actual amount greater than 3.2% will strengthen the AUD, a less than amount will weaken it. Retail Sales has a forecast of .05%. Unlike Building Approvals, the past results for this event are more mixed. At 8:30 GMT, expect the GBP to move due to Manufacturing PMI. The forecast for this event is 46.3. Actual amounts for this event have been optimistic for the GBP throughout the year of 2009. At 12:15 GMT, the USD will move due to Automatic Data Processing’s Non-Farm Employment Change. The forecast for this event is -385K. If the actual amount is greater than the forecasted amount, expect the USD to strengthen. If the actual amount is less than the forecasted amount, expect the USD to weaken. At 14:00, the USD will further be affected by the Institute for Supply Management Manufacturing PMI. The forecast for this event is 44.6. Past actual amounts have been optimistic since February 2009. At the same time, the USD will be affected by Pending Home Sales. The forecast for this event is 0.7%.
Thursday July 2nd’s high impact economic events will start at 1:30 GMT, with the Australian Bureau of Statistics’ Trade Balance. The forecast for this event is -0.10B. At 11:45 GMT, the EUR will move due to the Minimum Bid Rate. This event’s forecasted and actual amounts are typically the same. The forecast for this event is 1.00%. If the actual amount is greater than the forecasted amount, expect the AUD to strengthen. At 12:30 GMT, the European Central Bank will hold a Press Conference. Traders should watch for hints regarding the future monetary policy of the EUR. At the same time, the Bureau of Labor Statistics will be releasing Non-Farm Employment Change. This information has a tremendous effect on the USD. This month’s forecast is -345K. Expect much movement in the USD when this information is released. Also at this time, expect the USD to be further affected by Unemployment Claims and Unemployment Rate. The forecast for Unemployment Claims is 612K. If the actual amount is less than the forecasted amount, expect the USD to strengthen. Unemployment Rate’s forecast is 9.6%.
United States banks will be closed on July 3rd in observance of Independence Day. The only high impact economic event occurring on Friday is the Services PMI at 8:30 GMT, which will affect the GBP. The forecast for this event is 51.7. Past actual results have been optimistic for this event throughout the year of 2009.
We hope you research each of the events listed above and use them to your advantage. As always, Forex Club would like to wish you a healthy week filled with successful trades.
- 29 June |
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