Weekly Outlook: Top 10 GBP/USD events – Sept. 20-24

ForexNewsNow | Published on September 17, 2010 at 5:52 am

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GBPUSD weekly outlook - BoE chief KingNEW YORK (Forex News Now) – The FNN team has prepared a list of the top 10 economic events most likely to impact GBP/USD and make realtime forex news during the coming week, Sept. 20-24.

All times are given in GMT.

  1. Mortgage approvals (GBP): Monday, 8:30 A.M. – The Bank of England is due to publish this important monthly report, a leading indicator for housing market demand, for August.
  2. Public sector net borrowing (GBP): Tuesday, 8:30 A.M. – The U.K. statistics bureau is due to publish this data – which measures the difference in value between spending and income for public corporations, the central government, and local governments – for August.
  3. Building permits (USD): Tuesday, 12:30 P.M. – The Census Bureau is due to publish this monthly report on the U.S. housing market, which details number of number of new building projects authorized for construction.
  4. Fed interest rate decision (USD): Tuesday, 6:15 P.M. – The U.S. Federal Reserve is to reach a decision on whether to alter its benchmark interest rate, the Federal Funds Rate – a key event for FX traders. The central bank will announce the decision in a statement, which will also explain the move.
  5. MPC meeting minutes (GBP): Wednesday, 8:30 A.M. – The BoE’s policy-setting committee is scheduled to release the minutes of its latest meeting on the central bank’s benchmark interest rate, which present a useful opportunity for GBP USD analysis.
  6. BBA mortgage approvals (GBP): Thursday, 8:30 A.M. – The British Bankers’ Association, a trade group, is to publish this leading indicator of housing market demand in August.
  7. Initial jobless claims (USD): Thursday, 12:30 P.M. – The Department of Labor is due to release this report on the number of workers who filed new claims for jobless benefits during the previous week.
  8. Home resales (USD): Thursday, 2:00 P.M. – The National Association of Realtors, a trade group, is due to publish this report on the sales of previously owned U.S. homes; in fx trading, it is also known as “existing home sales.”
  9. Core durable goods orders (USD): Friday, 12:30 P.M. The Census Bureau is to release this report on orders long-lasting manufactured goods in August, excluding transportation products – the last major currency market trading economic indicator of the week.
  10. Bernanke speaks (USD): Friday, 8:30 P.M. – The U.S. Federal Reserve chairman, Ben Bernanke, is slated to speak at an event in Princeton. Traders will seek to discern clues to future monetary policy moves in the central bank chief’s comments.

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