The week ahead in the FX Markets with Haley West from Thomson Financial
Transcript:
This is FX Hub's Look at the week ahead I'm Haley West.
Monday is the first day of a new trading month and Manufacturing Purchasing Managers Indexes dominate the agenda. First up we have the European PMIs where observers will be interested to see if the strength shown in last week's IFO (eye-foe) survey can be replicated. Hot on their heels will be the UK PMI. Then we have the all important European inflation data which will be looked at closely for signs of price pressures. In the afternoon the key US ISM figure is due, with market participants looking for a significant drop.
Tuesday kicks off with Australian Current Account figures and Retail Trade. Later on we have a chance to look at the detail of 4th Quarter GDP data from Europe and Switzerland. The Bank Of Canada meeting is the highlight of a barren North American session. The Bank of Canada is expected to cut rates by 25 basis points to 3 and 3/4 per cent as growth slows.
On Wednesday, after Australian 4th quarter GDP, it's the turn of the Non-Manufacturing PMIs from Europe, the UK and the US. Also European Retail sales are slated for release. Comments from Federal Open Market Committee voting member Sandra Pianalto are also expected.
Thursday's calendar starts off with Australian Building approvals and International trade followed by Industrial Orders out of Germany. While in the US the Pending home sales will be keenly watched.
Thursday also has both the Bank of England and the European Central Bank's rate decisions. While no rate moves are expected the press conference after the ECB meeting will be intensely scrutinised.
On Friday, German industrial production is released which is followed by Canadian unemployment data. Then we have the big one, US non-farm Payrolls. Another poor figure is expected.
That's our look at the events for the week ahead. Log on to thomsonfxhub.com for more information. Have a great week I'm Haley West.
<< Back to article
