Multiple important speaks from central bank’s bosses including European Central Bank (ECB), Bank of Japan (BOJ), Bank of England (BOE), Bank of Canada (BOC) and Federal Reserve System (FED) will enter the spotlight this week besides a basket of economic data releases from top-tier economies. This article presents the preview of economic calendar targeting to the prospect of the major currencies during the period from Sept 25 to Sept 29.
Monday – 09/25/2017
Sept 25 is going to have two crucial talks from BOJ Governor Haruhiko Kuroda starting at 6:35 GMT and ECB President Mario Draghi beginning at 14:00 GMT. Last week, the BOJ decided to leave Japan’s policy interest rate unchanged, suggesting that the coming speech will likely be dovish, even more than predicted. Meanwhile, ECB’s Draghi in early September have dropped hints that the QE cutting process would be activated at the beginning of 2018, indicating that the Euro could possibly surge given Monday’s speaks exposing any auxiliary information for hawkish actions in near-term. We recommend traders to wait for outcomes to be confirmed before opening any position since financial markets are highly likely to tumble during the speeches.
Tuesday - 09/26/2017
Fed Chair’s Janet Yellen will talk on Tuesday this week at 17:45 GMT. Traders could hope to see the US Dollar climb during her speaks as she has already mentioned that the trimming process on the $4.5 trillion balance sheet would be started in October.
U.S. CB Consumer Confidence will also be released at 15:00 GMT. The figure is predicted to be 119.6, down from its previous level of 122.9.
Wednesday - 09/27/2017
U.S. Core Durable Goods Orders m/m is going to be announced at 13:30 GMT, anticipated to drop to 0.2% from the August rate of 0.6%, suggesting that the Greenback may fall in case the actual information is less than forecasted.
Besides, BOC Governor Stephen Poloz’s speaks will begin at 16:45 GMT. Canada’s economy currently has a very bright prospect, therefore BOC’s boss may adopt a hawkish tone which can lead the Canadian Dollar to push higher versus its counterparts.
Sept 27 also sees Reserve Bank of New Zealand (RBNZ)’s meeting take place at 21:00 GMT. However, don’t expect fireworks as Governor Graeme Wheeler has already emphasized that a weaker Kiwi would be better for New Zealand’s economy.
Thursday - 09/28/2017
BOJ President Kuroda and BOE Governor Mark Carney will both speak on this Thursday (7:35 and 9:15 GMT). In all likelihood, the BOJ will continue to endorse a wait-and-see approach as mentioned before, while BOE’s boss may adopt a hawkish rhetoric for monetary policy as they have done in the Monetary Policy Committee meeting in mid-September.
On the same day, there are two U.S. important announcements, both of which are going to be reported at 13:30 GMT. The final GDP q/q rate is foreseen slightly rising to 3.1% from its prior level of 3.0%, while U.S. unemployment claims may increase back to around 270K from the last number of 259K.
Friday - 09/29/2017
UK’s Current Account is going to be broadcast at 9:30 GMT with expectations that it will be more positive than the June release of -16.9B, signaling that Pound Sterling may climb versus major FX currencies given a better-than-expected outcome. Besides, Canada’s GDP m/m will also be confirmed at 13:30 GMT, forecasted slipping to 0.2% from its 0.3% rate reported in late August.
ECB’s Draghi and BOE’s Carney will additionally speak on Sept 29. Both the Euro and the Sterling will most likely rise in case hawkish hints are dropped.