It is going to be an important week for 3 currencies: the USD, the NZD and the JPY. All have Central Banks making their monthly reports and decisions. All are likely to be important to the market as a whole because the USD is always central, and there has been a lot of focus lately on the NZD in particular, as well as the JPY, with both performing with relative strength against other currencies. There will also probably be continued sentiment being carried over from the ECB’s more dovish stance on the Euro, as well as the aftermath of the Chinese rate cut, so we are probably going to see a more active and volatile Forex market this week.
U.S. Dollar
It will be an important and busy week ahead for the Greenback. The highlight will come on Wednesday with the release of the FOMC Statement and Federal Funds Rate. The week will begin on Tuesday with Core Durable Goods Orders and CB Consumer Confidence data. This will be followed on Thursday by Advance GDP and Unemployment Claims numbers. Finally, on Friday we will get the Employment Cost Index release.
Japanese Yen
It will be an important week ahead for the Yen, with the Bank of Japan’s Monetary Policy Statement, Outlook Report and Press Conference all due on Friday.
New Zealand Dollar
It will be an important and busy week ahead for the Kiwi. The highlight will come on Wednesday with the release of the RBNZ Rate Statement and Official Cash Rate. The week will begin on Tuesday with Trade Balance data. Finally, on Friday we will get ANZ Business Confidence release.
Euro
It will be a very quiet week ahead for the Euro, with nothing scheduled except German IFO Business Climate data on Monday.
Canadian Dollar
It will be a very quiet week ahead for the Loonie, with nothing scheduled except GDP data on Friday.
Australian Dollar
It will be a very quiet week ahead for the Aussie, with nothing scheduled except CPI data on Wednesday.
British Pound
It will be a very quiet week ahead for the Pound, with nothing scheduled except Preliminary GDP data on Tuesday.