This is an important week ahead. Firstly, there is a lot of data due for the U.S. Dollar, including crucial non-farm payroll data. This is the last such data release before the Federal Reserve is widely expected to increase the interest rate for the first time in almost a decade, on Wednesday 16th December.
There are also important central bank statements due concerning the Euro, Canadian Dollar, Australian Dollar and British Pound. The Euro and British Pound are very much in focus as weak currencies, and they may weaken much more if the statements support that. This is most likely to happen with the Euro.
As we have central banks expounding on 4 major currencies this week, we can expect an active week with reasonably high volatility.
U.S. Dollar
This is going to be an important and busy week for the greenback, with the Non-Farm Employment Change, Average Hourly Earnings and Unemployment Rate data all due for release on Friday.
The dollar’s week begins on Tuesday with the release of ISM Manufacturing PMI data, followed on Wednesday by the ADP Non-Farm Employment Change. The Chair of the Federal Reserve will also be speaking later that same day on the U.S. economic outlook. On Thursday there will be releases of Unemployment Claims and ISM Non-Manufacturing PMI data, and the Chair of the Federal Reserve will be testifying before Congress on U.S. economic policy.
Euro
This may be a crucial week for the Euro, with the ECB’s monthly Minimum Bid Rate announcement and Press Conference scheduled for Thursday.
There is nothing else scheduled.
Canadian Dollar
It is going to be a busy week for the Loonie, with the highlight due on Wednesday with the Bank of Canada’s Rate Statement and Overnight Rate announcement. The action will begin on Tuesday with a release of GDP data. Finally, Friday will see the release of Employment Change, Trade Balance and Unemployment Rate numbers.
Australian Dollar
It is going to be an important week Aussie. Monday will see the release of the Reserve Bank of Australia’s Rate Statement and Cash Rate. On Tuesday the Governor of the Bank will be making remarks at a minor breakfast, and later that same day there will be a release of GDP data. On Wednesday we will get Trade Balance numbers followed on Thursday by Retail Sales data.
British Pound
There are a few items due this week for the Pound, beginning on Tuesday with the Bank Stress Test Results and Manufacturing PMI data. On Wednesday we will get Construction PMI data, followed on Thursday by Services PMI.
New Zealand Dollar
This week will be a very light week for the Kiwi, with nothing scheduled except Tuesday’s GDT Price Index data release.