Weekly Forex Market Followup (January 27th ? January 31st 2014) (ForexTraders)

Key Fundamental Forex Events for the Week of January 27ththrough January 31st



The following table lists the key economic data and other events that came out during the week of January 27th through January 31st, with release times displayed for the GMT time zone.



The list also indicates how much each release deviated from the market consensus forecast upon release, as well as what the affected major currency pair or pairs did after each event or set of events.



Sunday, January 26th

• All Day AUD Bank Holiday


• 11:50pm JPY Monetary Policy Meeting Minutes noted that, “Japan's economy has continued to recover moderately, and a front-loaded increase in demandprior to the consumption tax hike has recently been observed. Overseas economies —mainly advanced economies— are starting to recover, although a lackluster performance is still seen in part.”* **The currency rose.


• 11:50pm JPY Trade Balance -1.15T versus -1.33T expected.* The currency rose.

Monday, January 27th

• 9:00am EUR German Ifo Business Climate 110.6 versus 110.2 expected.* The currency fell.


• All Day EUR Eurogroup Meetings: Eurogroup President JeroenDijsselbloem said that, “In the next meetings we will seek to finalise the operational framework for the ESM (European Stability Mechanism) direct recapitalisation instrument.”* **The currency fell.


• 11:00am EUR German Buba Monthly Report noted that, "In comparison to the situation at the start of the crisis, the current situation and trends in the countries affected show that a great deal has already been achieved.” **The currency fell.


• 3:00pm USD New Home Sales 414K versus 457K expected.* The currency rose.


• 6:00pm EUR German Buba President Weidmann said that, “The links between bank risks and sovereign risks have become much stronger, not looser, in recent years. Nonetheless, the reasons for this development are more nuanced than simply the outright public ownership of banks. In any case, it is critical from a financial stability perspective, especially for those countries hit by the European debt crisis, and indirectly for the entire financial system.” **The currency fell.


• 11:00pm AUD CB Leading Index 0.2% versus 0.5% expected.* The currency rose.

Tuesday, January 28th

• 12:30am AUD NAB Business Confidence 6 versus last 5 expected.* The currency rose.


• Tentative EUR German Constitutional Court Ruling was delayed until the spring.* The currency fell.


• 9:30am GBP Preliminary GDP 0.7% versus 0.8% expected.* The currency fell.


• 1:30pm USD Core Durable Goods Orders -1.6% versus 0.7% expected.* The currency rose.


• 3:00pm USD CB Consumer Confidence 80.7 versus 78.1 expected.* The currency rose.

Wednesday, January 29th



<ul>12:15pm GBP BOE Governor Carney said that, “There are issues with respect to currency unions. We've seen them in Europe. It's one of the factors that affects, actually, the outlook for the UK economy, has affected us over the last five years, affects us going forward, the challenges of having a currency union without certain institutional structures.”* **The currency fell.

7:00pm USD FOMC Statement noted that, “The Committee will closely monitor incoming information on economic and financial developments in coming months and will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability.”* **The currency fell.

7:00pm USD Federal Funds Rate Decision

by InformedTrades via InformedTrades