The coming week ahead is full of important news releases that are going to have a big effect on the Forex market, so a much more volatile week can be expected. Central Bank input can be expected for five of the eight major global currencies, including the U.S. Dollar, so there is a near-certainty we are going to see some extremely lively markets. Most importantly, the FOMC is going to provide a focus on likely prospects for the U.S. Dollar, which has recently been falling with some force, and so that trend might be accelerated or halted.
U.S. Dollar
A vital week for the Greenback with the highlight coming on Wednesday with a release of the FOMC Statement and Economic Projections and the Federal Funds Rate followed by the usual press conference. Earlier that same day CPI and Building Permits data will be released. The dollar’s week begins earlier on Tuesday with Retail Sales and PPI data. Thursday will see the release of Unemployment Claims and the Philly Fed Manufacturing Index. Finally on Friday we will get Preliminary UoM Consumer Sentiment data.
Japanese Yen
It will be a very important week for the Japanese Yen. On Tuesday the Bank of Japan will release its monthly Monetary Policy Statement, followed by the usual Press Conference.
British Pound
It looks like being a really vital week for the Pound, with the highlight coming on Thursday’s release of the Bank of England’s Monetary Policy Summary, and Official Bank Rate and Votes. Earlier, on Wednesday, there will be releases of the Average Earnings Index and the Claimant Count Change data, as well as the U.K.’s National Budget release.
Swiss Franc
It will be an important week for the Swiss Franc, with Thursday seeing the release of the SNB’s monthly Monetary Policy Assessment and the LIBOR Rate.
Australian Dollar
It will be an important week for the Australian Dollar, with a release of the RBA’s Monthly Monetary Policy Meeting Minutes due on Tuesday. Later in the week, there will be a release of Employment Change and Unemployment Rate data on Thursday.
Canadian Dollar
It will be a moderate week for the Loonie, with Manufacturing Sales data due for release on Wednesday, and finally, CPI and Retail Sales data on Friday.
New Zealand Dollar
It will be fairly light week for the Kiwi. On Monday the Governor of the RBNZ will be speaking at the Institute of Directors, then later on Tuesday new GDT Price Index data is expected.