Forex Analysis
by ForexNewsNow Team on October 29th, 2010

Weekly outlook / Top 10 EUR/USD forex events: Nov. 1-5

NEW YORK (Forex News Now) – The FNN team has prepared a list of the top 10 economic events most likely to impact EUR/USD and make realtime forex news during the coming week, Nov. 1-5.

All times are given in GMT.

  1. ISM Manufacturing PMI (USD): Monday, 9:30 A.M. – The Institute for Supply Management, a trade group, is due to publish this key report on the U.S. manufacturing sector, based on a survey of purchasing managers, for October.
  2. Manufacturing PMI (EUR): Tuesday, 9:00 – The market research firm Markit is due to release this report on the euro zone manufacturing sector.
  3. ADP 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 October. The Institute for Supply Management is also due to release a non-manufacturing PMI for the U.S., which is may shake up the day’s currency market trading.
  4. Fed rate decision (USD): Wednesday, 6:15 P.M. – The U.S. Federal Reserve is due to reach a decision on whether to alter its benchmark interest rate, the Federal Funds Rate. The Fed’s policy-making committee is also due to issue a statement, whose points often shift the dollar’s FX rate against other major currencies.
  5. Initial jobless claims (USD): Thursday, 12:30 P.M. – The Department of Labor is due to release this data on the number of workers who filed new claims for jobless benefits during the previous week. The report is often quite influential on the dollar’s FX rate.
  6. ECB rate decision(EUR): Thursday, 12:45 – The European Central Bank is due to reach a decision on whether to alter its benchmark interest rate, the Minimum Bid Rate. The ECB is to hold a press conference on the decision and monetary policy later in the day.
  7. Non-farm employment change (USD): Friday, 12:30 – The Bureau of Labor Statistics is scheduled to release this closely watched monthly report for October. The report is among the news most heavily anticipated by FX traders during the week.
  8. Retail sales (EUR): Friday, 10:00 A.M. – The EU statistics agency, Eurostat, is to release this data, which is an important gauge of consumer spending, for September.
  9. German factory orders (EUR): Friday, 11:00 A.M. – Germany’s central bank, the Deutsche Bundesbank, is due to publish this report, which is a leading indicator of production. It measures the month-on-month change in the value of new purchase orders placed with manufacturers in September.
  10. Pending resales (USD): Friday, 2:00 P.M. – The National Association of Realtors, an industry group, is due to release this important report, which gives a useful indication of the state of the U.S. housing market.

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