It is almost certainly going to be a much quieter week this week than last week, with a total absence of any central bank inputs concerning any major global currencies, and with public holidays scheduled in several markets. Therefore volatility is likely to be much less. In spite of the holidays, the most important data of the week is likely to be the U.S. economic releases scheduled for Thursday and Friday.
U.S. Dollar
It probably will not be the quietest week for the Greenback, as there are a few important items due. The week begins on Wednesday with a release of Crude Oil Inventories data. Then on Thursday we will get Unemployment Claims and Core Durable Goods Orders numbers. Finally on Friday there will be a release of Final GDP data.
Euro
It should be a week of some minor significance for the Eurozone. On Tuesday there will be releases of German IFO Business Climate data and German ZEW Economic Sentiment. Finally on Thursday we will get Targeted LTRO data from the ECB.
British Pound
It looks like being a fairly quiet week for the Pound, with Tuesday’s release of CPI data followed later in the week on Thursday by Retail Sales data. Friday is a public holiday in the United Kingdom.
New Zealand Dollar
It will be a very quiet week for the Kiwi. There is nothing scheduled except Trade Balance data due on Wednesday. It will be a public holiday in New Zealand on Friday.
Australian Dollar
It will be a very quiet week for the Aussie. There is nothing scheduled except a minor speech by the Governor of the RBA on Tuesday. It will be a public holiday in Australia on Friday.