What is Programmed in the Forex Calendar for Next Week

The week that has just passed did not bring any big surprises for the Forex Market. Monday the European Flashes PMI came above expectations for the services sector but disappointed for the manufacturing sector. Great Britain’s final GDP was in line with expectations. USA’s GDP was expected to rise 2.7%, but it only rose 2.5%. This bad news was equilibrated by a very good Unemployment Claims.

Last week was a lot of speeches from Mario Draghi and from the FOMC members. The ECB president reiterated the Central Bank’s position regarding the monetary policy. While a bigger number of FOMC members that spoke last week were expecting a tapering of the QE program in October, Evans said that he will not be surprised if Federal Reserve will continue not taking any action.

Date	Currency		Forecast	Previous
MonSep 30	NZD	Building Consents m/m		-0.80%
	JPY	Prelim Industrial Production m/m	-0.20%	3.40%
	JPY	Retail Sales y/y	1.10%	-0.30%
	NZD	ANZ Business Confidence		48.1
	AUD	Private Sector Credit m/m	0.40%	0.40%
	CNY	HSBC Final Manufacturing PMI	51.2	51.2
	EUR	German Retail Sales m/m	0.90%	-1.40%
	GBP	Net Lending to Individuals m/m	1.6B	1.3B
	EUR	CPI Flash Estimate y/y	1.30%	1.30%
	CAD	GDP m/m	0.60%	-0.50%
	CAD	RMPI m/m	3.20%	4.20%
	USD	Chicago PMI	54.5	53
TueOct 1	JPY	Household Spending y/y	0.20%	0.10%
	JPY	Tankan Manufacturing Index	7	4
	JPY	Tankan Non-Manufacturing Index	14	12
	CNY	Manufacturing PMI	51.6	51
	AUD	Retail Sales m/m	0.30%	0.10%
	JPY	Average Cash Earnings y/y	-0.20%	0.10%
	AUD	Cash Rate	2.50%	2.50%
	AUD	RBA Rate Statement
	EUR	Spanish Manufacturing PMI	51.6	51.1
	CHF	SVME PMI	54.9	54.6
	EUR	Italian Manufacturing PMI	51.2	51.3
	EUR	German Unemployment Change	-5K	7K
	GBP	Manufacturing PMI	57.5	57.2
	EUR	Unemployment Rate	12.10%	12.10%
	USD	ISM Manufacturing PMI	55.3	55.7
WedOct 2	AUD	HIA New Home Sales m/m		-4.70%
	AUD	Building Approvals m/m	-0.70%	10.80%
	AUD	Trade Balance	-0.45B	-0.77B
	EUR	Spanish Unemployment Change	12.3K	0.0K
	GBP	Halifax HPI m/m	0.60%	0.40%
	GBP	Construction PMI	60.1	59.1
	EUR	German 10-y Bond Auction		2.06\|1.3
	EUR	Minimum Bid Rate	0.50%	0.50%
	USD	ADP Non-Farm Employment Change	177K	176K
	EUR	ECB Press Conference
	USD	Crude Oil Inventories		2.6M
	USD	FOMC Member Rosengren Speaks
	USD	Fed Chairman Bernanke Speaks
ThuOct 3	CNY	Non-Manufacturing PMI		53.9
	EUR	Spanish Services PMI	50.9	50.4
	EUR	Italian Services PMI	49.3	48.8
	GBP	Services PMI	60.4	60.5
	EUR	Retail Sales m/m	0.30%	0.10%
	EUR	French 10-y Bond Auction
	EUR	Spanish 10-y Bond Auction		4.50\|2.0
	USD	Unemployment Claims	315K	305K
	USD	ISM Non-Manufacturing PMI	57.2	58.6
	USD	Factory Orders m/m	0.20%	-2.40%
	USD	FOMC Member Powell Speaks
FriOct 4	JPY	Monetary Policy Statement
	EUR	German PPI m/m	0.10%	-0.10%
	JPY	BOJ Press Conference
	USD	Non-Farm Employment Change	179K	169K
	USD	Unemployment Rate	7.30%	7.30%
	USD	Average Hourly Earnings m/m	0.20%	0.20%
	USD	FOMC Member Dudley Speaks
	USD	FOMC Member Stein Speaks
	CAD	Ivey PMI	52.6	51

The calendar for next week will be full of important economic releases. On Monday Canada will publish its GDP. Tuesday Australia will have its Cash Rate and the monetary policy, from the Euro Area there will be published the Manufacturing PMIs for Italy and Spain and the unemployment rate. Wednesday (this time) the ECB will have its monetary policy and the press conference, and US will report the ADP. Thursday Great Britain will release its retail sales and US will publish its unemployment claims. On Friday BOJ will have its monetary policy and US will release the Non-Farm Employment Change.

All these data will be accompanied by the debt ceiling discussions. We are expecting a week with high volatility on the Forex market. We recommend traders to adjust their strategy for the new conditions and keep an eye on the market news.

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