NEW YORK (Forex News Now) – The FNN team has prepared a list of the top 10 economic events most likely to impact currency market trading and make realtime forex news during the coming week, Oct. 4-8.
All times are given in GMT.
- Pending home resales (USD): Monday, 2:00 P.M. – The National Association of Realtors, an industry group, is due to release this important report for August. The data are a useful indication of the state of the U.S. housing market.
- NZIER business confidence (NZD): Monday, 9:00 P.M. – The New Zealand Institute of Economic Research is to publish this important index of N.Z. business confidence in the third quarter.
- RBA interest rate decision (AUD): Tuesday, 3:30 A.M. – The Reserve Bank of Australia is due to announce a decision on whether to move its benchmark interest rate, the Cash Rate. Analysts expect a hike of 25 basis points to 4.75 percent, according to two currency market trading news outlets.
- Services purchasing managers’ index (GBP): Tuesday, 8:30 A.M. – The market research firm Markit is due to publish this gauge of activity in the U.K. services sector, a leading indicator of economic health, for September.
- ADP nonfarm employment change (USD): Wednesday, 12:15 P.M. –ADP, a payroll processing firm, is slated to release this report on the change in U.S. private sector employment, excluding agriculture, in September.
- Ivey PMI (CAD): Wednesday, 2:00 P.M. – The Richard Ivey School of Business is to release data on manufacturing activity in Canada in September, based on a survey of purchasing managers.
- BoE interest rate decision (GBP): Thursday, 11:00 A.M. – The Bank of England is due to reach a decision on whether to alter its benchmark interest rate, the Official Bank Rate, which it is expected to hold steady at 0.5 percent. The central bank’s policy-setting committee will also publish a statement, and BOE will announce whether it will expand its quantitative easing program.
- ECB interest rate decision(EUR): Thursday, 11:45 A.M. – The European Central Bank is due to reach a decision on whether to alter its benchmark interest rate, the Official Bank Rate which it is expected to hold steady at 1 percent and is very influential on the euro’s FX rate. The ECB will also hold a press conference on the decision.
- 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.
- Nonfarm employment change (USD): Friday, 12:30 P.M. – The Bureau of Labor Statistics is scheduled to release this closely watched monthly report for September, as well as the U.S. unemployment rate, in a report likely to shake up EUR USD analysis. Canada will also publish important jobs data.