This week can be expected to be much more significant than the previous week, with Central Bank input due concerning the U.S. Dollar on Wednesday and concerning the Japanese Yen, British Pound and Swiss Franc on Thursday, with quite a lot of other important data releases due, particularly for the U.S. Dollar which is always a key driver of the Forex market.
Dominating all these items will be the FOMC Statement, Economic Projections and Federal Funds Rate which will be released by the Federal Reserve on Wednesday.
It looks as if the major activity and volatility is going to be centered on Wednesday and Thursday.
U.S. Dollar
It will be a vital and extremely busy week for the Greenback. Tuesday will see the release of Retail Sales data. Later, on Wednesday, we will get the very crucial releases of the FOMC Economic Projections, the FOMC Statement, and the Federal Funds Rate, followed by the usual Press Conference. Earlier in the day there will be releases of PPI and Crude Oil Inventories data. Thursday will see the release of Unemployment Claims, CPI and the Philly Fed Manufacturing Index. Finally, Friday will see the release of Building Permits numbers.
Japanese Yen
It will be a very important week for the Yen, with the Bank of Japan’s Monetary Policy Statement and Press Conference due on Thursday.
British Pound
It will be a very important week for the Pound, with the action starting upon Tuesday’s release of CPI data. The following day, Wednesday, sees releases of Average Earnings Index and Claimant Count data. The most important day of the week falls on Thursday with the release of the Bank of England’s Monetary Policy Summary and Official Bank Rate and Official Bank Rate Votes, with the Governor speaking later the same day.
Swiss Franc
It will be an important week for the Swissy, with the SNB’s Monetary Policy Assessment, Press Conference and LIBOR Rate all due on Thursday.
Canadian Dollar
It will be a relatively light week for the Loonie, starting on Wednesday with the release of Manufacturing Sales data, followed on Thursday by a speech from the Governor of the Bank of Canada. Finally, on Friday there will be a release of Core CPI data.
Australian Dollar
It will be a light week for the Aussie, with nothing due except Employment Change and Unemployment Rate data on Thursday.
New Zealand Dollar
It will be a light week for the Kiwi, with nothing due except GDT Price Index data on Wednesday and GDP data on Thursday.