Weekly Forex Market Forecast (August 19th ? August 23rd 2013) (ForexTraders)

Key Fundamental Forex Events and Forecasts for the Coming Week



The following table lists the key economic data and other events that are due out during the week of August 19th – August 23rd, with release times displayed for the GMT time zone.



The list also includes the current market consensus forecast for each event and indicates what sort of deviation might affect the forex market valuation of the indicated currency positively.



Sunday, August 18th

• 11:45pm NZD PPI Input (0.6%, > good for currency)

Monday, August 19th

• 12:50am JPY Trade Balance (-0.73T, > good for currency)


• 2:30am AUD New Motor Vehicle Sales (last 4.0%, > good for currency)

Tuesday, August 20th

• 2:30am AUD Monetary Policy Meeting Minutes (hawkish = good for currency)


• 4:00am NZD Inflation Expectations (last 2.1%, > good for currency)


• 7:00am EUR German PPI (0.2%, > good for currency)


• 1:30pm CAD Wholesale Sales (-0.5%, > good for currency)

Wednesday, August 21st

• 9:30am GBP Public Sector Net Borrowing (-4.8B, > good for currency)


• 11:00am GBP CBI Industrial Order Expectations (-8, > good for currency)


• 3:00pm USD Existing Home Sales (5.15M, > good for currency)


• 3:30pm USD Crude Oil Inventories (last -2.8M, > good for currency)


• 7:00pm USD FOMC Meeting Minutes (hawkish = good for currency)

Thursday, August 22nd

• 1:00am AUD CB Leading Index (0.0%, > good for currency)


• 2:45am CNY HSBC Flash Manufacturing PMI (48.3, > good for currency)


• 8:00am EUR French Flash Manufacturing PMI (50.4, > good for currency)


• 8:00am EUR French Flash Services PMI (49.3, > good for currency)


• 8:30am EUR German Flash Manufacturing PMI (51.1, > good for currency)


• 8:30am EUR German Flash Services PMI (51.7, > good for currency)


• 9:00am EUR Flash Manufacturing PMI (50.9, > good for currency)


• 9:00am EUR Flash Services PMI (50.2, > good for currency)


• 1:30pm CAD Core Retail Sales (0.1%, > good for currency)


• 1:30pm CAD Retail Sales (-0.3%, > good for currency)


• 1:30pm USD Weekly Initial Jobless Claims (322K, > good for currency)


• 2:00pm USD Flash Manufacturing PMI (54.1, > good for currency)


• Day 1 ALL Jackson Hole Symposium (hawkish = good for currency)


• 8:15pm USD Treasury Secretary Lew Speaks (hawkish = good for currency)

Friday, August 23rd

• 9:30am GBP Second Estimate GDP (0.6%, > good for currency)


• 9:30am GBP BBA Mortgage Approvals (39.2K, > good for currency)


• 9:30am GBP Preliminary Business Investment (0.6%, > good for currency)


• 1:30pm CAD Core CPI (0.0%, > good for currency)


• 1:30pm CAD CPI (0.1%, > good for currency)


• 3:00pm USD New Home Sales (492K, > good for currency)


• Day 2 ALL Jackson Hole Symposium (hawkish = good for currency)

Saturday, August 24th

• Day 3 ALL Jackson Hole Symposium

Technical Forecast and Levels to Watch for the Majors This Week



EURUSD: Higher



Resistance:



Initial: 1.3344/53, 1.3376/89, 1.3398/1.3403, 1.3416, 1.3433/34 and 1.3478/95.



Above:1.3519, 1.3544/46, 1.3568, 1.3597, 1.3614, 1.3710, 1.3795/98, 1.3836, 1.3969, 1.4000, 1.4246, 1.4500/17, 1.4695 and 1.4939.



Support:



Initial: 1.3318/21, 1.3305/08, 1.3296/99, 1.3242, 1.3232, 1.3224, 1.3187/1.3206, 1.3177, 1.3161/65, 1.3126, 1.3093/1.3106, 1.3077, 1.3059/66, 1.3047, 1.3000, 1.2904/98, 1.2837/79, 1.2821, 1.2795/1.2805, 1.2744/54, 1.2623/92, 1.2588/89, 1.2501/19, 1.2407/96, 1.2381/91, 1.2323/33 and 1.2241/55.



Below:1.2162, 1.2143, 1.2133, 1.2041 and 1.1938.



USDJPY: Mildly Lower



Resistance:



Initial: 97.79/83, 98.08, 98.20, 98.28, 98.48, 98.64/69, 98.87/89, 99.14, 99.25/94, 100.00, 100.22, 100.43/48, 100.65, 100.85/86, 101.22/25, 101.43, 101.52, 102.50/52, 102.76, 103.30 and 130.73.



Above: 107.18, 108.42 and 110.47.



Support:



Initial: 97.63, 97.55/58, 96.95/97.05, 96.65/70, 96.55, 96.05, 95.79/80, 95.44, 94.90/95.07, 94.87, 94.55, 94.19, 94.0593.76, 93.78 93.68, 93.50, 93.17, 92.77/95, 92.14/30, 91.19, 90.85 and 90.20/32.



Below: 89.40/66, 88.05, 87.95/99 and 87.79.



GBPUSD: Higher



Resistance:



Initial: 1.5624/56, 1.5673, 1.5683/92, 1.5714, 1.5750, 1.5781, 1.5803/07, 1.5825, 1.5844, 1.5874/77, 1.5886/90, 1.5900/27, 1.5961 and 1.5975/91.



Above:1.6001/08, 1.6051/66, 1.6077, 1.6083/96, 1.6109/16, 1.6130/51, 1.6151/54 and 1.6177/98.



Support:



Initial: 1.5615, 1.5601/06, 1.5591, 1.5568, 1.5545, 1.5514/16, 1.5498/99, 1.5476/79, 1.5458, 1.5434, 1.5403/21, 1.5313/92, 1.5304, 1.5293, 1.5260/62, 1.5237/39, 1.5208/23, 1.5198, 1.5173/87, 1.5164, 1.5152/57, 1.5130, 1.5123, 1.5101, 1.5092, 1.5081, 1.5072/75, 1.5026/32, 1.5013 and 1.5007.



Below: 1.4985, 1.4966/67, 1.4884, 1.4872, 1.4856, 1.4830, 1.4812 and 1.4785, 1.4345 and 1.4232.



AUDUSD: Higher



Resistance:



Initial: 0.9214/20, 0.9286, 0.9291, 0.9304, 0.9317/25, 0.9343, 0.9383/86, 0.9392/98, 0.9404, 0.9428/33, 0.9486, 0.9500, 0.9527, 0.9536/41, 0.9585, 0.9592, 0.9620, 0.9640, 0.9664, 0.9689/96, 0.9710, 0.9732, 0.9791/94, 0.9841/96, 0.9900, 0.9925/83, 1.0000/18, 1.0052, 1.0099/1.0100, 1.0114/17, 1.0148/51, 1.0165/77 and 1.0181/82.



Above: 1.0201, 1.0220/26, 1.0255/66,1.0280/92,1.0300/03, 1.0319/47, 1.0357, 1.0384/85, 1.0392/96, 1.0354/74, 1.0402/40, 1.0457/98, 1.0508/28, 1.0561/66, 1.0572/84, 1.0596/1.0638, 1.0654, 1.0668/86, 1.0751/53, 1.0792/98, 1.0842/54, 1.1010, 1.1064 and 1.1079.



Support:



Initial: 0.9179/89, 0.9162, 0.9147, 0.9127/37, 0.9112/19, 0.9072, 0.9057, 0.9047, 0.9041, 0.9035, 0.8997, 0.8869, 0.8857 and 0.8847.



Below: 0.8770, 0.8066 and 0.7674.



USDCAD: Mildly Lower



Resistance:



Initial: 1.0334/54, 1.0359/68, 1.0379, 1.0392, 1.0401, 1.0415, 1.0441/44, 1.0481/87, 1.0500, 1.0506, 1.0522, 1.0546/55, 1.0608, 1.0646/56 and 1.0669/76.



Above: 1.0742/85 and 1.0852.



Support:



Initial: 1.0324, 1.0302/1.0312, 1.0292/94, 1.0283/85, 1.0274, 1.0262, 1.0244/55, 1.0233/35, 1.0199/1.0226, 1.0178/82, 1.0172,1.0165, 1.0151/56, 1.0148, 1.0128/42, 1.0103/05, 1.0081/99, 1.0050/56, 1.0029/34, 1.0018 and 1.0012.



Below: 0.9993/98, 0.9984, 0.9969, 0.9945/60, 0.9931, 0.9922, 0.9902/07, 0.9899, 0.9858, 0.9814/26, 0.9724/99, 0.9686, 0.9645, 0.9631, 0.9525, 0.9445 and 0.9405.



NZDUSD: Higher



Resistance:



Initial: 0.8116/53, 0.8160/69, 0.8172/95, 0.8204/14, 0.8221/24, 0.8237/95, 0.8312/16, 0.8322/50, 0.8359/65, 0.8376/0.8406, 0.8425/47, 0.8453/59, 0.8472/79 and 0.8487/89.



Above: 0.8504/08, 0.8532, 0.8561, 0.8571, 0.8584, 0.8605, 0.8641, 0.8671/74, 0.8764 and 0.8840.



Support:



Initial: 0.8100/09, 0.8078, 0.8052/56, 0.8030, 0.7989/0.8013, 0.7967, 0.7932, 0.7903/06, 0.7888, 0.7856/57, 0.7846, 0.7829, 0.7819, 0.7804, 0.7795, 0.7783, 0.7751/58, 0.7731/34, 0.7705/23, 0.7697 and 0.7681/86.



Below: 0.7605/76 and 0.7500/85.







Originally Published on FX Times

by InformedTrades via InformedTrades