This week should be quieter than last week, with the focus turning to central bank statements and actions for the EUR and the CAD. The major political area of interest that is likely to result in unscheduled, market-moving breaking news remains the European/Greek crisis. More political focus is beginning to fall on the U.K. as next month’s election approaches and opinion polls continue to forecast a parliamentary balance that would make it almost impossible for any plausible government to be formed. This is already contributing to a fall in the GBP.
Euro
On Wednesday, the European Central Bank will announce the Minimum Bid Rate and give its monthly press conference where the bank’s views and analysis will be shared. This is the big monthly event for the Euro and it could be very interesting as the currency is approaching its multi-year low made recently against the USD.
Canadian Dollar
On Wednesday, the Bank of Canada will reveal its Monetary Policy Report and announce its Overnight Rate and Rate Statement, followed by a Press Conference. This is the major event of the month for the Canadian Dollar. The same day, there will also be a release of Manufacturing Sales data. On Friday, there will be releases of Core CPI and Core Retail Sales data.
U.S. Dollar
Three days of this week will see economic data releases pertaining to the US Dollar. On Tuesday the Retail Sales and PPI data will come out, followed by Building Permits, Unemployment Claims, and the Philly Fed Manufacturing Index on Thursday. On Friday CPI and Preliminary UoM Consumer Sentiment statistics will be announced.
British Pound
On Tuesday there will be a release of CPI data. Friday will see the release of Average Earnings Index and Claimant Count Change statistics.
New Zealand Dollar
Tuesday sees the release of NZIER Business Confidence data. On Wednesday there will be an announcement of the GDT Price Index numbers.
Australian Dollar
The only directly high-impact data coming out this week concerning this currency are the Employment Change and Unemployment rate data this Thursday.