Last week’s speech by Janet Yellen determined the course of the major price movements within the Forex market, which in the end were against the U.S. Dollar. This week has a fuller schedule of releases, so we can expect a more volatile week. The highlight of the week will probably be the Tuesday / Wednesday period, which will see really crucial Central Bank input regarding the USD and AUD, two currencies currently dominating the Forex market.
U.S. Dollar
It should be an important week for the Greenback, with the highlight coming on Wednesday with the release of FOMC Meeting Minutes. Earlier that day there will also be a release of Crude Oil Inventories data. The dollar’s week will begin a day earlier on Tuesday with the release of ISM Non-Manufacturing PMI data. Thursday will see the release of Unemployment Claims data. Finally on Friday the Chair of the Federal Reserve Janet Yellen will be speaking.
Australian Dollar
It will be a very important week for the Aussie, focused entirely on the opening half of the week, with major Central Bank Input at the center of the agenda. Tuesday will see the release of the monthly RBA Rate Statement and Cash Rate, as well as Trade Balance data. Earlier, on Monday, there will be releases of Building Approvals and Retail Sales data.
British Pound
It looks like being a fairly normal week for the Pound, with three major items due over the week. Monday will see a release of Construction PMI data. Tuesday will see a release of Services PMI data. Finally, on Friday, there will be a release of Manufacturing Production numbers.
Canadian Dollar
It looks like being a fairly normal week for the Loonie. The week begins with Trade Balance data on Tuesday, followed by releases of Employment Change and Unemployment Rate data on Friday.
Euro
It will be a very quiet week for the Euro. There is nothing scheduled except a speech by the President of the ECB on Thursday.
New Zealand Dollar
It will be a very quiet week for the Kiwi. There is nothing scheduled except GDT Price Index data on Tuesday.