Weekly Forex Outlook

Major economic events to affect the Forex Markets for the week ending October 28th, 2011 are as follows:

On Monday October 24th, 2011, in euro zone reported its data on manufacturing and services sectors activity along with report on industrial new order. Germany and France reported their separate reports on activity in manufacturing and services sectors. Japan reported its official data on country’s trade balance while Australia published its official data on producer price inflation.

Today on Tuesday, United States reported its industry data on house price inflation along with data on consumer confidence. In euro zone, report on German consumer climate was published. In United Kingdom, official data on current account along with report on mortgage approvals was reported. In Switzerland, UBS bank reported its consumption indicator.

On Wednesday October 26th, 2011, European Union leaders will meet on a one day economic summit to find a solution for the euro zone’s debt crisis. In United States, official data on durable goods, new home sales and crude oil inventories will be published. In United Kingdom, official report on Industrial order expectations is to be released while Bank of England’s policy maker Adam Posen will publicly address at an event which will be closely watched to assess the future direction of the monetary policy.

In New Zealand, data on business confidence and trade balance will be released. Moreover Reserve Bank of New Zealand will announce its bench mark interest rate on Wednesday. In Australia, official data on consumer price inflation is expected.

On Thursday October 27th, 2011, euro zone will report its official data on M3 money supply while Germany will report its data on consumer price inflation. In United States several reports will be published including, data on third quarter gross domestic product, GDP price index, data on jobless claims and report on pending home sales. United Kingdom is to report its industry data on retail sales.

Japan will publish its official data on retail sales. Moreover, the Bank of Japan will release its benchmark interest rate. On Thursday, BoJ’s Governor Masaaki Shirakawa will also publicly speak at a press conference to give hints on future direction of monetary policy.

On Friday October 28th, 2011, euro zone will report its data on French consumer spending while in United States reports on personal income, personal spending, employment costs and consumer prices will be published. Moreover data on consumer sentiment and inflation expectation will also be reported by University of Michigan. United Kingdom will report its official data on consumer confidence.

In Japan, official data on household spending, consumer price index and unemployment rate will be published on Friday.

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