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Forex Analysis
by ForexNewsNow Team on November 12th, 2010

Euro Weekly Outlook: The Top 10 EUR related events Nov 15-19

euro eur usd forex trading analysisNEW YORK (Forex News Now) – The FNN team has prepared its weekly list of the top 10 economic and news driven events most likely to influence the Euro in currency market trading for the coming week, Nov. 15-19.

All times are given in GMT.

  1. Italian Trade Balance: Monday, Nov. 15 9:00 a.m. – The Italian National Institute of Statistics will release the country’s trade balance, showing the strength or weakness of exports, and the effect of a stronger Euro on the country’s economy. The latest announcement was far weaker than expected. Estimates are for a print of -1.91 Billion.
  2. European Trade Balance: Monday, Nov. 15th 10:00 a.m. – Eurostat will release the Eurozone’s overall trade balance. Traders will be interested in seeing what effect the Euro’s recent upsurge has had on exports as a whole for the area. Estimates are for a 1.3 Billion figure. It should be noted that the last release was a weak -1.4 billion, far below the estimated 1.3 billion expected.
  3. French Preliminary Non-Farm Payrolls: Tuesday, Nov. 16th 7:45 a.m. – The French agency, INSEE, will release its change in the number of employed French workers for the quarter, as the survey sees. It should be noted that this number will be preliminary, and therefore subject to being revised. Estimates are centered on the 0.2% mark.
  4. German ZEW Economic Sentiment: Tuesday, Nov. 16th 10 a.m. – The ZEW, or Centre for European Economic Research, is releasing its economic sentiment survey for the German economy. Estimates call for a reading of 2.3 this month.
  5. European CPI: Tuesday, Nov. 16th 10 a.m. – Eurostat will release the Consumer Price Index for the region on Tuesday morning. As this number shows the inflation experienced by the typical European, traders will watch for any signs of inflation in the economic bloc. Estimates are for a print of 1.9%.
  6. European Core CPI: Tuesday, Nov. 16th 10 a.m. – Released simultaneously with the overall CPI, the Core CPI tends to be more indicative of true inflation as it strips the basket of goods down to the most important and often purchased items. Estimates are set for 1.0%.
  7. Current Account: Thursday, Nov. 18th 9 a.m. – The ECB will release its current account numbers Thursday morning, showing the difference in value of imports and exports to the region. Estimates for this number are set at -2.2 Billion. It should be noted that this number has been declining recently.
  8. ECB President Trichet Speaks: Thursday, Nov. 18th 1:30 p.m. – Jean-Claude Trichet is set to give a speech at the 6th annual ECB conference in Frankfurt. Traders will be watching for any hint of future direction for the central bank.
  9. German Producers Price Index, Friday, Nov. 19th 7 a.m. – Destatis will release the Producers Price Index report of the German economy. The numbers have been volatile over the last few months, but mainly have been better than expected. The estimate this time calls for a reading of 0.2%, a slight decline from last month’s reading
  10. European Bond auctions – Throughout various countries, the fear of sovereign default has been ratcheting up lately. Although not a specific economic announcement per se, Forex traders should focus on all news relating to European bonds, especially the ones issued from Ireland, Portugal, Spain, and Greece. As the spreads between these countries bonds are widening from the benchmark German bonds, it signals serious concerns about Irish default. The other countries on the list above are considered to be next in the line of default worries.

By ForexNewsNow Team

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