Fundamental Forex Market Outlook for the Upcoming Week
The key fundamental economic events that can strongly influence the forex market this week feature the U.S. inflation and Retail Sales data, the BOJ Rate Decision and the UK Employment Report. Those key economic releases and others due out during this week are detailed further below, with the current market consensus expectations or the last result included in parenthesis whenever available.
The coming week’s highlights start early on Sunday with New Zealand Core Retail Sales (0.7%) and Japanese Preliminary GDP (1.5%). Monday has little of note due out.
Tuesday’s highlights include Australian Monetary Policy Meeting Minutes, UK CPI (5.1%), the German ZEW Economic Sentiment survey (-51.7) and the tentatively scheduled UK BOE Inflation Letter, plus U.S. Core Retail Sales (0.2%), Retail Sales (0.3%) and PPI (-0.1%).
On Wednesday, the market will closely monitor the tentatively scheduled Japanese Monetary Policy Statement, Overnight Call Rate (<0.10%) and BOJ Press Conference, in addition to the UK Claimant Count Change (20.8K), a speech by BOE Governor King and the BOE Inflation Report. Also due out Wednesday are U.S. Core CPI (0.1%) and TIC Long-Term Purchases (63.4B), a speech by Australian RBA Governor Stevens and New Zealand PPI Input (0.6%).
Thursday’s key data includes UK Retail Sales (-0.3%), and then U.S. Building Permits (0.60M), Weekly Initial Jobless Claims (397K) and the Philly Fed Manufacturing Index (9.3).
Friday then concludes the week with Canadian Core CPI (0.2%).
