Forex Weekly Outlook

Major economic events that could have significant impact on forex trading and currency markets for the week ending September 9th, 2011 are as follows:-

Yesterday on Monday, markets in United States remained closed in observance of Labor Day while euro zone reported its official data on retail sales along with data on investor confidence. Today on Tuesday, September 6th, data on service sector activity was released by Institute of Supply Management in United States. Euro zone released its revised data on second quarter gross domestic product along with data on factory orders. In United Kingdom, data on retail sales was released while Switzerland reported its official data on consumer price inflation.

On Wednesday September 7th, 2011, US Federal Reserve will publish its Beige Book, moreover, President Federal Reserve Bank of Chicago, Charles Evans is to publicly speak at an event which will be closely watched to assess the future direction of monetary policy. Bank of Canada will also announce its benchmark interest rate on Wednesday along with its Ivey Production Manufacturing Index. United Kingdom will report its official data on manufacturing production while UK’s National Institute of Economic and Social Research will release its monthly GDP estimate. Germany is also expected to report its official data on Industrial Production.

In Asia Pacific, Bank of Japan will release its benchmark interest rate while Australia is to publish official data on its gross domestic product for second quarter.

On Thursday September 8th, 2011, official data on initial jobless claims and crude oil inventories will be published in United States. Japan is to report its data on machinery orders while Australia will release its official unemployment rate.

The Bank of England will release its benchmark interest rate in United Kingdom while in euro zone ECB will also announce its interest rate decision.

In Canada, official data on building permits, house price inflation and country’s trade balance will be published.

On Friday September 9th, 2011, several reports will be published in Canada which will include data on unemployment rate, data on housing starts and report on labor productivity. In the UK, official report on producer price inflation along with country’s trade balance will be published. Japan is to report its revised data on second quarter’s GDP on Friday.

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