Besides a series of top-tier economic releases, global traders will also focus on the Federal Open Market Committee (FOMC) Press Conference on Wednesday and Bank of Japan’s meeting on Thursday this week. This article will present our preview of economic calendar targeting to the prospect of the major currencies during the period from Sept 18 to Sept 22.
Monday – 09/18/2017
There are no significant announcements on this Monday, suggesting that financial markets will likely be steady. Traders can follow the guidance of technical indicators to collect trading signals as usual.
Tuesday - 09/19/2017
There are few expectations for a hawkish rhetoric in Reserve Bank of Australia’s Monetary Policy Meeting which is going to take place at 2:30 GMT on Tuesday this week since RBA Governor Philip Lowe intentionally endorsed a wait-and-see approach in the August meeting. Traders can grab bearish signals given the certified dovish speak.
U.S. Building Permits will also be broadcast at 13:30 GMT. Economists have forecasted the data to be 1.22M, slightly down from the previous report of 1.23M.
Wednesday - 09/20/2017
This Wednesday is likely to witness global financial markets be effervescent because of FOMC’s Press Conference which is going to begin at 19:00 GMT. U.S. headline inflation remaining below mid-term target in addition to a series of negative economic news recently, in all likelihood, will drive Fed Chair’s Yellen to leave interest rates unchanged. However, the lately deep sink of the US dollar might have reflected the priced-in disappointments of global investors, therefore we suggest that traders shouldn’t sell the Greenback even a confirmed dovish outcome.
In a separate development, UK’s Retail Sales m/m divulged at 9:30 GMT has been predicted to drop to 0.2% from its 0.3% release in August. New Zealand’s GDP figure will also be reported on the same day with expectations that it will robustly climb to an annualized 0.8% from the prior announcement of 0.5%.
Thursday - 09/21/2017
The Bank of Japan will meet on Thursday this week. Economists have foreseen that there would be no remarkable actions from BoJ and the key interest rates would be held at the record low -0.1% because of Japan’s currently weak inflation figures, indicating that the Japanese Yen could possibly head lower if the actual information is exact as forecasts.
Meanwhile, U.S. Unemployment Claims could turn back to the 300K level from its previous data of 284K, according to financial experts. Traders can consider this a great opportunity to open bullish positions on the cross-USD currency pairs.
Friday - 09/22/2017
This Friday sees two Canada’s economic releases published at 13:30 GMT. The monthly CPI rate widely expected to advance to 0.2% from the no-growth level as opposed to the Core Retail Sales m/m which may retreat back to 0.4% from its August broadcast of 0.7% could expose a tumbling Loonie during the period when actual outcomes are confirmed.