Forex Weekly Forecast 16-20 Dec 2013

1- EUR -ECB President Draghi Speaks – Monday 16 Dec at 14:00 , As head of the ECB, which controls short term interest rates, he has more influence over the euro’s value than any other person, his words usually affect the near future of the currency.

2- GBP – CPI – Tuesday 17 Dec at 09:30 ; The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation, forecast is 2.2%.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

3-German ZEW Economic Sentiment – Tuesday 17 Dec  at 10:00 ; The German Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment Index gauges the six-month economic outlook, a level above zero indicates optimism; below indicates pessimism, the reading is compiled from a survey of about 350 German institutional investors and analysts, forecast is 55.0.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

4- USD – CPI – Tuesday 17 Dec at 13:30 ; The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy, It measures price change from the perspective of the consumer,It’s a key way to measure changes in purchasing trends and inflation, forecast is 1.7%.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

5- EUR – German Ifo Business Climate – Wednesday 18 Dec at 09:00 ; It measures Level of a composite index based on surveyed manufacturers, builders, wholesalers, and retailers, forecast is 109.7 . A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

6- GBP- Claimant Count Change – Wednesday 18 Dec at 09:30 ; It measures change in the number of people claiming unemployment-related benefits during the previous month, forecast is -35.2K. A higher than expected reading should be taken as negative/bearish for the GBP, while a lower than expected reading should be taken as  positive/bullish for the GBP.

7- USD – Interest Rate Decision – Wednesday 18 Dec at 19:00 ;  Federal Open Market Committee (FOMC) members vote on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation, forecast is 0.25%. A higher than expected rate is positive/bullish for the USD, while a lower than expected rate is negative/bearish for the USD.

8- USD – Initial Jobless Claims – Thursday 19 Dec at 13:30 ; Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week,forecast is 365K. A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

9- USD -Existing Home Sales (MoM) – Thursday 19 Dec at 15:00 ; Existing Home Sales measures the change in the number of existing (not new) residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength, forecast is -1.5%
A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative.

10- USD – Philadelphia Fed Manufacturing Index – Thursday 19 Dec at 15:00 ; The Philadelphia Federal Reserve Manufacturing Index rates the relative level of general business conditions in Philadelphia. A level above zero on the index indicates improving conditions; below indicates worsening conditions. forecast is 10.0 .

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

11- JPY – Interest Rate Decision –Friday – all day – Bank of Japan (BOJ) policy board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation. forecast is 0.10%. A higher than expected rate is positive/bullish for the JPY, while a lower than expected rate is negative/bearish for the JPY.

All times are GMT

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4 COMMENTS

  1. Whatever your feelings ….
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    Feelings affect only those who trade without a plan !!!

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