Week Starting Monday 20 June 2005
What do we have on the announcement front this week (so as not to be taken by surprise if anything sudden happens with price)?
Again, I start by looking at DailyFX’s calendar.
Monday doesn’t seem to offer anything that’s too exciting, therefore today I’d be expecting further USD weakness.
Tuesday at 0500 NY EST we have the ZEW survey which seems to indicate a further strengthening of the EURUSD.
Also at 0830 NY EST we have the CAD releasing retail sales. Both reports seemed mixed as one is stronger from the previous month whereas the other weaker from the previous month. From this I can probably only foresee a lot of whipsaw action.
Wednesday looks to be an active day as we have the EUR Trade Balance being released, therefore keep an eye out for the figures that are being published at 0500 NY EST. We also have the NZD releasing their current account which looks quite strong in comparison to the previous figure, this is published at 1845 NY EST.
Thursday looks like a dead day… nothing really exciting.
Friday at 0700 NY EST we have the CAD releasing their CPI which looks marginally weaker than last month’s figures, possibly expect some weakness.
And lastly at 0830 NY EST we have the USD releasing their Durable Goods Orders which looked mixed (one looks weaker than the previous month, the other stronger).
The highlight of this week will be New Zealand’s Current Account announcement on Wednesday… stay tuned for our next post on our analysis on the NZDUSD.
From a fundamental view I would likely expect the USD to remain weak throughout the week!
Tags: Forex News, Forex Trading