IntegrityFX Weekly Economic Calendar Outlook

This past week brought us some good information in the shape of the FOMC statement. The Fed gave a slightly upgraded outlook on the economy, and more or less stated that raising the Fed Funds rate would be the last step in their tightening cycle. It looks like we will not be losing these depressed rates anytime soon. Risk appetite built up in the beginning of this week but Friday brought risk aversion. Will next week reverse today’s action or continue it?

When we look ahead to next week’s data releases there is little to get excited about. For most traders this is good news, but be careful it’s usually when no one is watching that the news has the most impact.

Monday 3/22

20:30 GMT

Treasury Secretary Geithner will be speaking at this time. He will be speaking about financial reforms so this has potential to move equity markets, if something surprising is said, which has a large impact on risk based currencies, especially AUD and EUR.

Tuesday 3/23

9:30 GMT

The BoE is expecting that inflation will start coming down so as long as we get that don’t expect too much. However, a higher than expected reading could spook the market into thinking that they would raise rates sooner than expected, strengthening GBP.

Wednesday 3/24

12:30 GMT

Durable goods data is due out of the US. This generally comes in out of line with expectations, but the market is highly variable in its response. With the light news load for next week, this has potential to cause a shock in the market.

21:45 GMT

New Zealand GDP looks to be a strong news evet, given the high levels in AUDNZD. Both currencies are set to raise rates within a few months, so a release of this level of importance will be reflected in the Forex market.

Thursday 3/25

9:30 GMT

Once again the risk for news out of England is for too much inflation. With expectations of falling inflation, the BoE is set to hold rates steady.

14:00 GMT

More testimony out of Bernanke. His prepared statement has already been released, this is all about the questioning. An event with a highly variable effect on the market, you should at least be aware of it.

Friday 3/26

No important event.