Forex Technical and Fundamental Analysis for the Week of Nov 7, 2011

EUR/USD Technical Analysis for the Week of Nov 7, 2011

EUR/USDfell this past week, and even broke down below the bottom of the very supportive hammer from two weeks ago. Because of this, we think the next overall move is to the downside. The 1.40 area should be massively resistive, and as long as we don’t close above that area on a daily chart, we are selling rallies. The 1.35 area should be support, and that will be the next major hurdle for the bears to clear in our minds.

EUR/USD Fundamental Analysis for the Week of Nov 7, 2011

The EUR/USD pair ended a strongly bearish week, affected by the announcement of the Greek Prime Minister to hold a general referendum on the second bailout deal; however, the interest rate cut by the European Central Bank in addition to the high level of uncertainty in Europe pressured the euro further, awaiting critical comments from world leaders and European official during the weekend. The sentiment deteriorated in the market, while fears and rising debt concerns dominated investors after the G20 summit failed to quell jitters and provide clear decisions to aid the euro-area and prevent the crisis from spreading into other larger economies within the region. G20 leaders have also expressed their impatience over the economic situation in the region and especially in Greece, where they were disappointed as the European Union was unable to provide a comprehensive plan and implement it as scheduled, noting that leaders demanded theUnionearlier to put an end to the debt crisis by this week. On Thursday, the European Central Bank lowered key rates by a quarter percentage point to 1.25% from 1.50% on lower growth forecasts and steady inflation in addition to the possible Greek default. This week, we expect volatility and heavy fluctuations to dominate the market, especially the EUR/USD pair, awaiting the confidence vote results from the Greek parliament over Papandreou’s rule and the second bailout deal and also to confirm the cancelation of the general referendum. Lack of major fundamentals from Europe and theUnited Statesthis week will shift investors focus to any comments or steps to be made or taken by European lawmakers; however, our interest will be concentrated mainly on the retail sales index from the euro zone and the current account and trade balance from Germany. Other news from the euro area and the U.S. economy to affect the pair this week: Monday November 7: The euro area will start the week at 10:00 GMT with the retail sales index for September, which is expected to expand by 0.1% from the previous drop of 0.3% over monthly basis. In addition, the annual retail sales index is expected to drop by 0.3% from the prior drop of 1.0%. Germany will join the session at 11:00 GMT with the industrial production annual and monthly index, where the non-seasonally adjusted annual index could have retreated to 7.2% from 7.7%, while the seasonally adjusted monthly index is projected to drop by 0.6% from the previous drop of 1.0%. At 20:00 GMT the United States is expected to release the consumer credit figure for September, which could have improved to $5.100 billion from -$9.501 billion. Tuesday November 8: Germany will start the session at 07:00 GMT with the current account and trade balance figures for September, where the current account surplus is expected to improve to 12.3 billion euros from 7.0 billion euros. In addition, the seasonally adjusted exports index could have dropped to 0.5% from 3.5%, while the seasonally adjusted imports index is expected to expand by 0.4% from the previous steady reading. Furthermore, the trade surplus could have expanded to 12.5 billion euros from 11.8 billion euros. Wednesday November 9: The United States will start the session at 15:00 GMT with the wholesale inventories for September, with expectations that the index could have expanded by 0.6% from 0.4%. Thursday November 10: Germany will start the day with the consumer price index in a final reading for October at 07:00 GMT, where the monthly CPI is expected unrevised at 0.0%, while the annual index is also expected unrevised at 2.5%. In addition, the CPI – EU harmonised monthly index is also expected unrevised at 0.0%, while the annual index is projected to linger at 2.8%. Germany will also release the wholesale price index for October, where the previous monthly and annual indexes were 0.3% and 5.7% respectively. At 09:00 GMT the euro zone will join the session with the European Central Bank’s monthly report. The United States will join the session at 13:30 GMT with the import price index for October, where the monthly index is expected to expand by 0.2% from 0.3%, while the previous annual reading was 13.4%. The Untied States will also release the trade balance figures for September, with expectations that the trade deficit could have widened to $46.2 billion from $45.6 billion. The United States will also provide the initial jobless claims figure (November 5), with expectations that the number of claims could have increased to 400 thousands from 397 thousands. At 19:00 GMT the United States will join again with the monthly budget statement for October, where the budget deficit could have narrowed to $110.7 billion from $140.4 billion. Friday November 11: The United States will start the session at 14:55 GMT with the University of Michigan confidence in a preliminary reading for November, with expectations that the confidence could have slightly improved to 61.0 from 60.9.

USD/JPY Technical Analysis for the Week of Nov 7, 2011

The USD/JPY pair got a massive pop at the start of the week due to Bank of Japan intervention on Monday morning. However, the move was unilateral, and these moves almost always fail. In fact, the BoJ did this just a couple of months ago and got the same results. Because of this, we are sellers of this pair now, as there simply seems to be no buying demand overall. The 80 mark is what we need to see broken in order to go long, and this is something that is very unlikely as the BoJ couldn’t even make that happen. We would be willing to settle for 100 pips or so on a sell, but don’t expect this pair to move quickly at all.

USD/JPY Fundamental Analysis for the Week of Nov 7, 2011

The USD/JPY pair soared last week to its highest level in three months, after the Bank of Japan intervened in the FX market for the third time this year, trying to prevent the yen from further gains against the dollar, which is hurting the Japanese economy. The BOJ explained that the recent increase in the Japanese currency was due to speculative moves, but the last intervention pushed the dollar up to cover all its previous losses against the yen. On the other hand, the Japanese officials indicated that the door is still open for more intervention until the currency reflects the real economic situation. While other major currencies used this current weakness in the yen to record more gains against the currency. Additionally, The FOMC members decided to leave the Operation Twist program unchanged; after they kept the interest rate unchanged between 0.0% and 0.25%, in addition to revise growth projections lower due to the downside risks for the economic outlook amid the current European debt crisis. The current question in the financial market is whether the yen will return to gain again against the dollar or the last intervention from BOJ is enough to keep the currency weak? The answer for this question will depend on the dollar and the investors’ confidence in financial markets and their appetite for risk, while the Japanese fundamentals will not be a part of the equation, as the yen used to ignore reflecting the Japanese economic performance. Major highlights for this week that will affect the USD/JPY pair’s trading: Monday November 07: On Monday at 04:00 GMT, Japan will issue the Coincident Index for September, where the preliminary reading is expected to come at 92.8 from the previous reading of 107.6. The U.S. economy will release the Consumer Credit for September at 19:00 GMT, where it’s expected to come at $5.00 billion from the previous reading of –$9.501 billion. Tuesday November 08: Both economies will not release any data on Thursday, where the pair’s movements will depend on the market sentiment. Wednesday November 09: On Wednesday at 23:50 GMT (Tuesday) Japan will issue the Current Account Total for September, where it’s expected to show a surplus of 1330.5 billion yen from the previous surplus of 407.5 billion yen. The Adjusted Current Account Total for September is expected to show a surplus of 941.0 billion yen from the previous surplus of 652.6 billion yen, while the Trade Balance for September is expected to show a surplus of 327.1 billion yen from the previous deficit of 694.7 billion yen. At 04:00 GMT, the Japanese economy will release the Eco Watchers Survey: Current for October, where the previous reading was 45.3, as for the Eco Watchers Survey: Outlook, it has a prior reading of 46.4. The U.S. economy will release the Wholesale Inventories for September at 14:00 GMT, where the prior reading was 0.4% and it’s expected to come at 0.6%. Thursday November 10: On Thursday at 23:50 GMT (Wednesday), Japan will issue Machine Orders for September, where it had a prior reading of 11.0% and expected to come at -6.9%, while the annual reading is expected to come at 11.4% from the previous reading of 2.1%. At 12:30 GMT, the U.S. economy will release the Import Price Index for October, which had a previous reading of 0.3% and it’s expected to come at 0.3%, on the other hand the annual Import Price Index had a prior reading of 13.4%. Trade Balance for September will be released at the same time, where the previous deficit was $ 45.6 billion and expected to widen to $46.0 billion. At 12:30 GMT, the U.S. economy will release its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance dropped to 397 thousand last week. Friday November 11: On Friday at 23:50 GMT (Thursday), Japan will release the Tertiary Industry Index for September, which had a previous reading of –0.2% and it’s expected to come at –0.6%. At 13:55 GMT, the U.S. economy will issue the University of Michigan Confidence for November, where it’s expected to come at 61.0 from the previous 60.9.

GBP/USD Technical Analysis for the Week of Nov 7, 2011

GBP/USDfell on this past week, but managed to find support in the form of 1.60 at the close of business. The pair looks like it has had a pullback, and that it is ready to try and bounce from here. The breaking of the top of the weekly candle would confirm it as a hammer, and would send in new longs. A break of the bottom signifies a “hanging man”, and this would be very bearish indeed. Because of this, we have a very binary trade set up: If it breaks higher – buy. If it breaks lower – sell. Just make sure it exits the range from the week first.

GBP/USD Fundamental Analysis for the Week of Nov 7, 2011

The GBP/USD fell in the week ended Nov. 4 after showing a rise over the past few weeks as the tensions in markets and weak fundamentals triggered safety demand on the U.S. dollar as a safe haven. Fears reignited once again after Greek Prime Minister George Papandreou had surprised markets and European leaders with his call for a referendum on the euro area’s latest bailout package granted to Greece. In fact, rejecting the bailout would deprive Greece from receiving the next 8 billion euro aid tranche needed to avert default which will in turn push Greece into a disorderly bankruptcy that might end its membership in the euro. In addition, lackluster manufacturing and services reports from China, Switzerland, euro area, U.K., and U.S. worsened outlook for global major economies as it suggested that the sluggish growth pace would continue in the fourth quarter or even beyond that, thereby enhancing demand on refuges led by the greenback. The drop in U.K. manufacturing and services gauges offset the data showing that Britain expanded 0.5% in the three months ended September, according to the GDP advanced reading, beating estimates of 0.3% and exceeding the 0.1% expansion recorded in the second quarter. Last week, the Fed lowered growth forecasts and raised estimates for unemployment, whilst revealing that purchasing mortgage-backed securities is a valid option for the Fed to boost the slackening recovery. This week, the main focus will be the BoE rate decision along with other important data from the U.K. while the U.S. does not have highly relevant release. For this week, the release of the data will be as follows: Monday Nov. 7: Both economies lack economic fundamentals which propose that there would be calm trading on the pair which is predicted to follow the general trend in market as it will not able to get direction from data. Tuesday Nov. 8: At 09:30 GMT, the British economy will release industrial and manufacturing production for the month of Sep., where the U.S. has no releases. Wednesday Nov. 9: U.K. visible trade balance report for the month of Sep. will be due at 09:30 GMT. The U.S., on the other hand, will release MBA mortgage applications for Nov. 4 at 12:00 GMT followed by whole sale inventories at 15:00 GMT. Thursday Nov. 10: The main focus will be in the main highlight of highlight of the week which the BoE rate decision for Nov. 10. At 12:00 GMT, the BoE will hold both borrowing cost and APF quantity on hold at 0.50% and 275 billion pounds. As of 13:30 GMT, the U.S economy will release trade balance which is expected to show a widened deficit of $46.0 billion in Sep. from $45.6 billion deficit a month earlier. At the same time, initial jobless claims for the week ended Nov. 4 and continuing claims for the week ended Oct. 28 will be available. At 19:00 GMT, the monthly budget statement for Oct. is predicted to show a deficit of $110.5 billions. Friday Nov. 11: The week ends with the release of U.K. PPI for Oct. will be released at 09:30 GMT. While the U.S. will release University of Michigan confidence, at 14:55 GMT, which is estimated to slide to 60.0 in Nov. compared with the prior reading of 60.9.

USD/CHF Technical Analysis for the Week of Nov 7, 2011

USD/CHFrose during week, and looks like it has fully bounced off of the 0.85 level. The pair is a “risk off” pair when it runs up now, as the Dollar is the last safe haven currency left. The Pair looks set to wrestle with the 0.90 level, and if that gives – 0.95 and parity are coming next. The breaking of the level is our signal to buy. If we break below the 0.85 level – we think the market will fall enough to get the Swiss involved in an intervention action. Because of this, we aren’t even considering the selling of this pair.

USD/CHF Fundamental Analysis for the Week of Nov 7, 2011

The USD/CHF rebounded in the week ended Nov. 4 after three weeks of incline as the tensions in markets sparked demand on theU.S.as the most favourable safe haven amid expected further intervention from the SNB to curb the franc’s advance and the BoJ intervention. Fears reignited once again after Greek Prime Minister George Papandreou had surprised markets and European leaders with his call for a referendum on the euro area’s latest bailout package granted to Greece. In fact, rejecting the bailout would deprive Greece from receiving the next 8 billion euro aid tranche needed to avert default which will in turn push Greece into a disorderly bankruptcy that might end its membership in the euro. In addition, lackluster manufacturing and services reports from China, Switzerland, euro area, U.K., and U.S. worsened outlook for global major economies as it suggested that the sluggish growth pace would continue in the fourth quarter or even beyond that, thereby enhancing demand on refuges led by the greenback. Last week, the Fed lowered growth forecasts and raised estimates for unemployment, whilst revealing that purchasing mortgage-backed securities is a valid option for the Fed to boost the slackening recovery. This week, the main focus will be inflation and unemployment data from Switzerland while the U.S. will release less important fundamentals. For this week, the release of the data will be as follows: Monday Nov. 7: As of 06:45 GMT, the Swiss economy will release unemployment for the month of Oct. followed by CPI, specifically at 08:15 GMT, for the same month, while the United States lacks fundamentals. Tuesday Nov. 8: At 06:45 GMT, the Swiss economy will release the last data this week which is SECO consumer confidence for Oct, where the U.S. has no releases. Wednesday Nov. 9: The U.S. will release MBA mortgage applications for Nov. 4 at 12:00 GMT followed by whole sale inventories at 15:00 GMT. Thursday Nov. 10: As of 13:30 GMT, the U.S economy will release trade balance which is expected to show a widened deficit of $46.0 billion in Sep. from $45.6 billion deficit a month earlier. At the same time, initial jobless claims for the week ended Nov. 4 and continuing claims for the week ended Oct. 28 will be available. At 19:00 GMT, the monthly budget statement for Oct. is predicted to show a deficit of $110.5 billions. Friday Nov. 11: The week ends with the release of U.S. University of Michigan confidence, at 14:55 GMT, which is estimated to slide to 60.0 in Nov. compared with the prior reading of 60.9.

EUR/CHF Technical Analysis for the Week of Nov 7, 2011

The EUR/CHFpair almost sat still for the week as it exited unchanged. The area just below is the “floor” that was imposed by the Swiss National Bank, so selling isn’t an option at this point. Buying would be a great long-term investment, if only the Europeans would get their collective acts together on this debt crisis. Until that happens – this pair won’t be a long-term possibility at all. When it does happen – this pair could be a “buy and hold” pair.

EUR/CHF Fundamental Analysis for the Week of Nov 7, 2011

The EUR/CHF was little affected last week despite the ongoing volatility in financial markets and Greek surprises which dominated financial markets. Investors still are not approaching the pair and it lacks the momentum needed to change the trend and remains in a tight trading range pending any comments or movements from the SNB. We only saw the pair move higher on comments from SNB board member Jean-Pierre Danthine saying the SNB did not take the 1.20 floor decision lightly and will take further measures if the economic outlook and deflationary risks so require. This leaves the focus on this week’s data from Switzerland as the ongoing developments in the euro area certainly do not affect the pair even as Greece last week neared its complete collapse after a surprise referendum call early in the week that died to the end of it. Eyes will be on the unemployment and inflation figures from Switzerland and certainly the developments in Greece as the markets will come from the weekend to the final defined status for the Greek government whether it survives a confidence vote and whether Papandreou does indeed step down to allow for a coalition government. Other news from the euro area and the Swiss economy to affect the pair this week: Monday November 7: As of 06:45 GMT, the Swiss economy will release unemployment for the month of Oct. followed by CPI, specifically at 08:15 GMT, for the same month, while the United States lacks fundamentals. The euro area will start the week at 10:00 GMT with the retail sales index for September, which is expected to expand by 0.1% from the previous drop of 0.3% over monthly basis. In addition, the annual retail sales index is expected to drop by 0.3% from the prior drop of 1.0%. Tuesday November 8: At 06:45 GMT, the Swiss economy will release the last data this week which is SECO consumer confidence for Oct, where the U.S. has no releases. Furthermore, the trade surplus could have expanded to 12.5 billion euros from 11.8 billion euros. Wednesday November 9: Both nations are not queued to release any major fundamentals leaving the focus on the market sentiment and ongoing developments. Thursday November 10: At 09:00 GMT the euro zone will join the session with the European Central Bank’s monthly report. Friday November 11: Both nations are not queued to release any major fundamentals leaving the focus on the market sentiment and ongoing developments.

AUD/USD Technical Analysis for the Week of Nov 7, 2011

AUD/USDhad poor week over the last 5 sessions, but did manage to find a bit of support in the 1.03 area. The level has been supportive in the past, so this is a good sign. The breaking of the 1.07 on a weekly close is going to be needed for us to take long-term positions in this pair, and a breaking below parity is needed for us to short it for any real length of time. We see consolidation coming for this pair, mainly between the 1.03 and 1.07 levels, so long-term trades will more than likely be hard to come by.

AUD/USD Fundamental Analysis for the Week of Nov 7, 2011

The AUD/USD pair retreated sharply last week on expectations that the global economy will suffer further if the European Leaders fail to control the financial crisis. The latest updates from the EU debt crisis and Greece affected the pair’s movements negatively. Also Australian economy is losing its major trade partner as China reduces demand on raw materials and other Australian exports, as the economy slows. Also the latest fundamentals from Australia were pessimistic enough to drive Aussie down against the dollar, as the home-building approvals declined in September by the most since November 2002, in addition Retail sales in September retreated. On the other hand, the Reserve Bank of Australia left the door open for further monetary loosening, after the bank cut rates to 4.50% last week. The current outlook from the RBA pressured Aussie to lose ground against the greenback and other major currencies, especially with the weak performance from the Australian economy. Major highlights for this week that will affect the AUD/USD pair’s trading: Monday November 07: On Monday at 23:30 GMT (Sunday), the Australian economy will release the ANZ Job Advertisements for October, where the previous reading was down by 2.1%. The U.S. economy will release the Consumer Credit for September at 19:00 GMT, where it’s expected to come at $5.00 billion from the previous reading of –$9.501 billion. Tuesday November 08: On Tuesday at 23:30 GMT (Monday) Australia will release the Trade Balance for September, where it’s expected to show a surplus of A$ 3000 million compared to the previous A$3100 million surplus. NAB Business Confidence for October will be released at the same time, where it had a previous reading of –2, while the previous reading for NAB Business Conditions was 2. Wednesday November 09: On Wednesday at 23:30 GMT (Tuesday), the Westpac Consumer Confidence for November will be released from the Australian economy, where it had a prior reading of 0.4%. At the same time Australia will release the Home Loans index for September, which is expected to come at 1.8% from the prior reading of 1.2%. The U.S. economy will release the Wholesale Inventories for September at 14:00 GMT, where the prior reading was 0.4% and it’s expected to come at 0.6%. Thursday November 10: On Thursday at 23:30 GMT (Wednesday), The Australian economy will issue the Consumer Inflation Expectation for November, where it had a previous reading of 3.1%. On the other hand, the Employment Rate for October is expected to come at 5.3% compare to the previous reading of 5.2%, while the Employment Change is expected to come at 10.0 thousand from the prior 20.4 thousand. At 12:30 GMT, the U.S. economy will release the Import Price Index for October, which had a previous reading of 0.3% and it’s expected to come at 0.3%, on the other hand the annual Import Price Index had a prior reading of 13.4%. Trade Balance for September will be released at the same time, where the previous deficit was $ 45.6 billion and expected to widen to $46.0 billion. At 12:30 GMT, the U.S. economy will release its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance dropped to 397 thousand last week. Friday November 11: On Friday at 13:55 GMT, the U.S. economy will issue the University of Michigan Confidence for November, where it’s expected to come at 61.0 from the previous 60.9.

USD/CAD Technical Analysis for the Week of Nov 7, 2011

USD/CAD bounced this past week as traders sold off a lot of risk-related assets globally. The pair finished strongly above the parity level, and as such has us thinking long at this point. However, the 1.03 area will be resistive, and as such we are waiting for a close above it in order to buy. The selling of this pair can be done if we break the lows of this past week’s candle. Until then, we think this market goes sideways.

USD/CAD Fundamental Analysis for the Week of Nov 7, 2011

The USD/CAD pair rebounded to the upside last week in volatile trading amid the high level of uncertainty that is surrounding the outlook of the European debt crisis on renewed fears that Greece could be facing a disorderly default. Meanwhile, economic data from the United States showed mixed results, however, markets were focused on the Jobs report for October, which signaled that job growth is still weak in the United States, although unemployment fell unexpectedly to 9.0%, the lowest level since April. Meanwhile, data from Canada proved to be mixed as well, where GDP expanded better than expectations, however, employment data disappointed investors, as unemployment rose unexpectedly in October to 7.3%, as Canadian employers shed 54 thousand jobs. Traders are likely to use next week to adjust their positions as they will reflect on the recent data from Europe and the United States, where the retail sales report will be released from both Europe and the United States. The high level of uncertainty in markets could provide the USD/CAD pair with more bullish momentum, where traders will be eyeing developments in Greece, and accordingly, we should expect Europe to dominate the pair’s movement next week. Nonetheless, if optimism spreads through markets, the USD/CAD pair will decline, as demand for higher yielding assets is likely to rise in that case, and that should provide the Canadian dollar with momentum. Highlights for this week that will probably affect the USD/CAD pair’s direction are: Monday November 07: At 20:00 GMT the United States is expected to release the consumer credit figure for September, which could have improved to $5.100 billion from -$9.501 billion. Tuesday November 08: Canada will release the housing starts index for October at 12:15 GMT, where housing starts are expected to ease to 200.0 thousand, compared with the prior estimate of 205.9 thousand in September. Wednesday November 09: Canada will release the new housing price index for September at 12:30 GMT, where the index is expected to rise by 0.1% in line with the prior rise. The United States will start the session at 15:00 GMT with the wholesale inventories for September, with expectations that the index could have expanded by 0.6% from 0.4%. Thursday November 10: Canada will release the international merchandise trade balance for September at 12:30 GMT, which is expected to show the deficit narrowed to 0.52 billion CAD, compared with the prior deficit of 0.62 billion CAD. The United States will join the session at 13:30 GMT with the import price index for October, where the monthly index is expected to expand by 0.2% from 0.3%, while the previous annual reading was 13.4%. The Untied States will also release the trade balance figures for September, with expectations that the trade deficit could have widened to $46.2 billion from $45.6 billion. The United States will also provide the initial jobless claims figure (November 5), with expectations that the number of claims could have increased to 400 thousands from 397 thousands. At 19:00 GMT theUnited Stateswill join again with the monthly budget statement for October, where the budget deficit could have narrowed to $110.7 billion from $140.4 billion. Friday November 11: The United States will start the session at 14:55 GMT with the University of Michigan confidence in a preliminary reading for November, with expectations that the confidence could have slightly improved to 61.0 from 60.9.

NZD/USD Technical Analysis for the Week of Nov 7, 2011

The NZD/USDpair fell this past week, but did see a bit of a bounce in the Friday session. The pair is highly sensitive to headline risks out there, and as a result has been very difficult on traders. The latest move has been fairly bearish, but the pair can show rapid climbs as it is a fairly thin market. The 0.8000 level in general seems to be like a magnet, and the 0.82 level would represent an area that was the “most recent high” that the pair has made. If we can close above it on the daily charts, this pair could be a buy. If we break the lows of this past week’s candle – we could sell. The 0.75 level below there is our first sign of real support.

NZD/USD Fundamental Analysis for the Week of Nov 7, 2011

The NZD/USD pair dropped last week to its lowest level in three weeks, as the New Zealand fundamentals and the current EU crisis encouraged investors to abandon Kiwi. The New Zealand economy reported a drop in building permits index in September by more than both the prior reading and the analysts’ forecasts. On the hand, the Chinese purchasing manager index (PMI) during October showed some weakness, which could reduce demand for New Zealand’s currency, where the Chinese market is the largest market for NZ’s products. The FOMC decisions surprised no one, where the Fed maintained the interest rate between 0.0% and 0.25%. The FOMC members decided to leave the Operation Twist program unchanged, in addition revised growth projections lower due to the downside risks for the economic outlook amid the current European debt crisis. The greenback advanced against the Kiwi after the FOMC decision, where investors decided to give the US dollar another chance until the U.S. officials give a clear decision regarding the third round of quantitative easing. Major highlights for this week that will affect the NZD/USD pair’s trading Monday November 07: The U.S. economy will release the Consumer Credit for September at 19:00 GMT, where it’s expected to come at $5.00 billion from the previous reading of –$9.501 billion. Tuesday November 08: Both economies will not release any data on Thursday, where the pair’s movements will depend on the market sentiment. Wednesday November 09: On Wednesday at 20:45 GMT (Tuesday) the New Zealand economy will release the annual House Prices for October, which had a previous reading of 0.7%. The U.S. economy will release the Wholesale Inventories for September at 14:00 GMT, where the prior reading was 0.4% and it’s expected to come at 0.6%. Thursday November 10: On Thursday at 20:30 GMT (Wednesday) New Zealand will release the Business NZ Performance of Manufacturing Index for October, where the prior reading was 50.8. The ANZ Consumer Confidence Index for November will be released at the same time, where it had a previous reading of 112.2 At 12:30 GMT, the U.S. economy will release the Import Price Index for October, which had a previous reading of 0.3% and it’s expected to come at 0.3%, on the other hand the annual Import Price Index had a prior reading of 13.4%. Trade Balance for September will be released at the same time, where the previous deficit was $ 45.6 billion and expected to widen to $46.0 billion. At 12:30 GMT, the U.S. economy will release its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance dropped to 397 thousand last week. Friday November 11: On Friday at 13:55 GMT, the U.S. economy will issue the University of Michigan Confidence for November, where it’s expected to come at 61.0 from the previous 60.9.

Collect your Forex Bonus No Deposit now!

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.