The Australian economic calendar is somewhat active this coming week, featuring the RBA Rate Decision on Tuesday. Monday offers nothing notable, so Tuesday starts the week’s highlights off with the RBA’s Cash Rate Decision (unchanged at 1.50%) and the RBA Rate Statement. Thursday then offers the Trade Balance (3.33B) and a speech by RBA Governor Lowe, while Friday’s important data then concludes the week with the RBA’s Monetary Policy Statement. Resistance for AUD/USD is seen at 0.7718/0.7834, 0.7583/0.7679 and 0.7490/0.7524, with support noted at 0.7439/72, 0.7369 and 0.7222/0.7310.
The Canadian economic calendar is sparse this coming week, only featuring the Trade Balance (0.3B) and a speech by BOC Governor Poloz on Thursday, followed by the Employment Change (20.0K), the Unemployment Rate (6.70%) and Ivey PMI (62.3) on Friday. Resistance for USD/CAD is seen at 1.4689, 1.4001 and 1.3696, while support shows at 1.3534/1.3638, 1.3367/1.3495 and 1.3263/1.3312.
The Eurozone economic calendar is fairly active this coming week, featuring jobs data on Wednesday. Monday will be a French, German and Italian Bank Holiday. In addition, it will offer the release of the EU Economic Forecasts to start the week’s highlights off. Tuesday’s key events include Spanish Manufacturing PMI (54.3), while Wednesday offers the Spanish Unemployment Change (21.3K), German Unemployment Change (-10K) and the EZ Preliminary Flash GDP (0.50%). Thursday then concludes the week’s highlights with a speech by ECB President Draghi. Resistance for EUR/USD is seen at 1.1122/39, 1.1038/45 and 1.0946/64, with support showing at 1.0850/1.0905, 1.0774/1.0828 and 1.0617/1.0718.
The UK economic calendar is quite peaceful this coming week after Monday’s Bank Holiday, only featuring Manufacturing PMI (54) on Tuesday; Construction PMI (52.1) on Wednesday; and Services PMI (54.6) and Net Lending to Individuals (4.5B) on Thursday. Resistance to the topside for GBP/USD shows at 1.3120, 1.3057 and 1.2965, while support for the pair is expected at 1.2902/14, 1.2864 and 1.2774.
The Japanese economic calendar is peaceful this coming week, featuring no notable data. Also, Wednesday, Thursday and Friday will be Japanese Bank Holidays. Resistance for USD/JPY currently shows up at 114.95/115.49, 112.55/113.79 and 111.44/112.19, with support indicated at 110.08/26, 108.12 and 106.94/107.48.
The New Zealand economic calendar is rather quiet this coming week, only featuring the GDT Price Index (last 3.10%), the Employment Change (0.80%) and the Unemployment Rate (5.10%) on Tuesday, as well as Inflation Expectations (last 1.90%) on Friday. The chart for NZD/USD shows resistance at 0.7236/46, 0.6934/0.7172 and 0.6896. On the downside, technical support is expected at 0.6847/61, 0.6707/38 and 0.6674.
The U.S. economic calendar is quite busy this coming week, featuring key jobs data on Wednesday and Friday. Monday starts the week’s highlights off with a speech by Treasury Secretary Mnuchin, Core PCE Price Index (-0.10%), Personal Spending (0.20%) and ISM Manufacturing PMI (56.6). Wednesday then offers the ADP Non-Farm Employment Change (178K), ISM Non-Manufacturing PMI (56.1), Crude Oil Inventories (last -3.6M), the FOMC Statement, the Federal Funds Rate Decision (unchanged at <1.00%). Thursday features Weekly Initial Jobless Claims (246K), Preliminary Nonfarm Productivity (0.10%), Preliminary Unit Labor Costs (2.50%), the Trade Balance (-44.9B) and Factory Orders (0.60%). Friday’s important data then concludes the week with Average Hourly Earnings (0.30%), Non-Farm Payrolls (194K), the Unemployment Rate (4.60%) and speeches by FOMC Members Fischer and Evans, as well as Fed Chair Yellen.