Key Fundamental Forex Events for the Week of November 7^th through November 11^th

The following table lists the key economic data and other events that came out during the week of November 7^th through the 11^th, 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.

Monday, November 7^th

• 12:30am AUD ANZ Job Advertisements -0.7% versus -2.1% expected. The AUD fell.
• 8:00am GBP Halifax HPI 1.2% versus 0.1% expected. The GBP fell.

Tuesday, November 8^th

• 12:30am AUD Trade Balance 2.56B versus 3.04B expected. The AUD rose slightly.
• 9:30am GBP Manufacturing Production 0.2% versus 0.2% expected. The GBP rose slightly.
• 1:14pm CAD Housing Starts 208K versus 201K expected. The CAD rose.
• 1:30pm CHF SNB Chairman Hildebrand spoke. He said that, “The franc is still highly valued versus the euro at the current exchange rate. We expect it to weaken further over time.” The CHF rose.

Wednesday, November 9^th

• 12:30am AUD Home Loans 2.2% versus 1.7% expected. The AUD fell.
• 1:30am CNY CPI 5.5% versus 5.4% expected.
• 2:30pm USD Fed Chairman Bernanke spoke. He said that, “The Federal Reserve System is committed to supporting small business and entrepreneurship. We do that, for example, through research that adds to our stock of knowledge about the catalysts for and barriers to entrepreneurship.” The USD rose.
• 8:00pm NZD RBNZ Financial Stability Report noted that, “Financial markets have become more stable since the European sovereign debt crisis earlier in the year. But the widespread withdrawal of fiscal stimulus and debt reduction by consumers and businesses continue to pose risks to the global recovery.” The NZD fell.

Thursday, November 10^th

• 12:30am AUD Employment Change 10.1K versus 10.3K expected.
• 12:30am AUD Unemployment Rate 5.2% versus 5.3% expected. The AUD rose.
• 2:01am CNY Trade Balance 17.0B versus 26.3B.
• 12:00pm GBP Asset Purchase Facility 275B, as expected.
• 12:00pm GBP Official Bank Rate 0.50%, as expected.
• 12:00pm GBP The MPC Rate Statement noted that, “The Bank will continue to offer to purchase high-quality private sector assets on behalf of the Treasury, financed by the issue of Treasury bills, in line with the arrangements announced on 29 January 2009.” The GBP rose.
• 1:30pm CAD Trade Balance 17.0B versus -0.5B expected. The CAD rose.
• 1:30pm USD Trade Balance -43.1B versus -46.1B expected.
• 1:30pm USD Weekly Initial Jobless Claims 390K versus 402K expected. The USD fell.

Friday, November 11^th

• All Day EUR French Bank Holiday
• 9:30am GBP PPI Input -0.8% versus 0.0% expected. The GBP rose.
• All Day CAD Bank Holiday
• All Day USD Bank Holiday
• 2:55pm USD Preliminary University of Michigan Consumer Sentiment 64.2 versus 61.1 expected. The USD fell.

Technical Recap for the Majors This Week

EURUSD: 

Forecast: Mildly Higher
Actual: Mildly lower from a 1.3817 open to a 1.3735 close.

USDJPY:

Forecast: Mildly Lower
Actual: Mildly lower from a 78.12 open to a 77.12 close.

GBPUSD: 

Forecast: Higher
Actual: Mildly higher from a 1.6055 open to a 1.6081 close.

AUDUSD: 

Forecast: Mildly Higher
Actual: Lower from a 1.0409 open to a 1.0271 close.

USDCAD: 

Forecast: Mildly Lower
Actual: Mildly lower from a 1.0161 open to a 1.0117 close.

NZDUSD: 

Forecast: Mildly Higher
Actual: Mildly lower from a 0.7957 open to a 0.7854 close.