Major Forex Events This Week

By TraderVox.com

Tradervox.com (Dublin) – The US dollar has been performing strongly in the market as jobless claims came in lower than the market expected. Most analysts are taking this as an outlier and the market did not react strongly. However, there are some important events this week that will shape the market. Here are some major events this week.

Monday 16

The US retail sales data will be released at 1230hrs on this day. May data showed a drop for the second month of 0.2 percent equaling the April result. The economist had predicted a 0.1 gain on this data. The core sales excluding cars also showed a decrease by 0.4 percent extending previous month’s decline of 0.3 percent; economists had predicted an increase of 0.1 percent. The data in May was attributed to low wage gain and the joblessness exceeding 8 percent. The data for June is expected o show a gain of 0.2 percent in Retail sales while Core Sales is expected to increase by 0.1 percent.

Tuesday 17

On this day the UK Inflation data and German ZEW Economic Sentiment will be the main events from the European Union region. The UK inflation data will be released at 0830hrs GMT where a drop to 2.7 percent is expected. If this figure is confirmed, this will be a continuation of dropping inflation data from the previous months where the annual rate declined by 2.8 percent from a previous reading of 3.0 percent. The economic sentiment from Germany will be released at 0900 hrs, where a small increase to -14.5 is estimated. Investor sentiment dropped to -16.9 in June from a high of 10.8 in May.

In the Americas, the market will be looking at the US inflation data and the Canadian rate decision which will be released at 1230 and 1300 hrs respectively. The Core CPI for the US is expected to show a 0.2 percent increment after a drop was registered in the previous reading. The Bank of Canada is expected to leave the interest rate unchanged at 0.1 percent. The Ben Bernanke testimony before the US senate will also be another important event in the US. Bernanke will speak at 1400hrs in Washington DC.

Wednesday 18

On this day, investors will be interested I the UK Claimant count change and the US building permits reports which will be released at 0830 hrs and 1230 hrs respectively. Economists are expecting the data from the UK to show a increase to 9,700 while US building permits are expected to drop to 770k.

Thursday 19

Three events will be of importance on this day; the US unemployment claims at 1230 hrs, and US existing Home sales and the US Philly Fed Manufacturing Index at 1400hrs. The US Unemployment Claims report is expected to show a rise back to the normal range of 375k. The US Existing Home Sales data is expected to show a rise to 4.65 million while the US Philly Fed Manufacturing Index is also expected to show an improvement to -7.8.

Disclaimer
Tradervox.com is not giving advice nor is qualified or licensed to provide financial advice. You must seek guidance from your personal advisors before acting on this information. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. Opinions expressed at Tradervox.com are those of the individual authors and do not necessarily represent the opinion of Tradervox.com or its management. 

Article provided by TraderVox.com
Tradervox.com is a Forex News Portal that provides real-time news and analysis relating to the Currency Markets.
News and analysis are produced throughout the day by our in-house staff.
Follow us on twitter: www.twitter.com/tradervox