Forex Technical and Fundamental Analysis for the Week of October 10, 2011

EUR/USD Technical Analysis for the Week of October 10, 2011

EUR/USDhad a fairly neutral week, although it did in fact have a wide range. The EU continues to have many issues, and the downgrade of Italy and Spain on Friday doesn’t help the situation. With the many issues in Europe, it is going to be hard to get overly bullish of this pair, and will more than likely make for choppy trading – but with a downward bias. We still prefer to sell rallies at this point as the troubles in Europe continue to plague the Euro.

EUR/USD Weekly Fundamental Analysis for the Week of October 10, 2011

The EUR/USD ended the week on good terms and the euro found the supported needed from the ECB to unwind some of the jitters. Investors found some comfort in the measures deployed by the ECB to ease the financial strain amid the lack of concrete actions from leaders. The bank extended the regular liquidity operations at least until July 2012, and added new 12 and 13 month tenders in addition to setting 40 billion euros for covered bonds purchases which is aimed at ensuring liquidity availability to the market. The pessimism eased last week especially with the stronger than expected jobs report from the United States that showed 103 thousand added jobs in the economy in September which somehow eased woes of recession and focused on slowdown. The week is low of major fundamentals this week which leaves the focus again on the outlook for growth and the debt crisis. The EU leaders will continue to discuss the means needed to contain the crisis especially with the meeting scheduled between Sarkozy and Merkel where positive comments on how they will help banks and Greece will be good support to the sentiment and help the upside recovery. On the other hand, the FOMC minutes will remind investors of the ongoing downside pressures and intensified downside risks to growth although since the announcement of Operation Twist Bernanke reiterated the Federal Reserve’s commitment to support the recovery and take all necessary steps. Therefore, once again we expect the main attention to be to the debt crisis again and the measures to be taken especially as investors will turn to the G20 summit at the end of the week ahead of the EU leaders summit early the next week which will hold the final answer to markets. Other news from the euro area and the U.S. economy to affect the pair this week: Monday October 10: German trade figures are due at 06:00 GMT for August. Exports are expected with 1.3% rebound after 1.8% drop and Imports are expected to rise by 0.6% after 0.3% drop. Nevertheless, the trade surplus is expected to narrow to 8.2 billion from 10.4 billion and the current account surplus to shrink to 5.1 billion from 7.5 billion. Tuesday October 11: The focus on Tuesday will be on the FOMC minutes for the last meeting when the Fed announced “operation twist” and with the lack of major fundamentals investors will keep their focus on the minutes for any hints for the coming move from the Federal Reserve. Wednesday October 12: The euro area is set to release the Industrial Production for August at 09:00 GMT which is expected with 0.7% drop after 1.0% rise and to rise 2.2% on the year following 4.2% rise. Thursday October 13: At 08:00 GMT the ECB will release the monthly report which has little impact on the market since it reiterates the assessment presented following the meeting from Trichet. The U.S. trade figures are due at 12:30 and the trade deficit in August is expected to widen to $46.0 from $44.8 billion. The weekly jobless claims are also due at 12:30 GMT after last week they rose to 401 thousand. Friday October 14: The euro area will end the week with inflation figures for September at 09:00 GMT where the CPI index is expected with 0.8% rise on the month following 0.2% gain and on the year to come in line with the flash estimate at 3.0% after 2.5% in August. Core CPI inflation is expected to rise to 1.5% from 1.2%. As for the August trade balance that data is also due at 09:00 GMT and investors will assess if exports are helping the euro area growth and whether the trade improved from July’s seasonally adjusted 2.5 billion euro deficit. The U.S. economy will end the week with heavy data starting at 12:30 GMT with the September Retail Sales as the index is expected to rise moderately by 0.2% less autos after 0.1% gain in August and excluding gas and auto sales are also expected with 0.2% rise after 0.1%. At 13:55 GMT the University of Michigan confidence for October is expected with a rise to 60.0 from 59.4; and finally at 14:00 GMT Business Inventories for August are expected to hold at 0.4%.

AUD/USD Technical Analysis for the Week of October 10, 2011

AUD/USDfell during the week, and then bounced from low support in the 0.95 area. The pair is highly sensitive to the “risk on” or “risk off” attitudes of traders, and has traded as such lately. The pair will continue to fall every time bad news takes over the market’s mentality. The Aussie is particularly vulnerable at this point as it has become a favourite “punching bag” of the trading world every time the news flow gets bad. However, the resulting candle is a hammer, and it looks supportive on the weekly chart. Further confusing the signal is the fact that the Friday candle is a shooting star, signaling a strong sell. Because of this, we expect the pair to be choppy, and at the whim of news. We prefer selling rallies at this point as bad news is almost a given recently.

AUD/USD Weekly Fundamental Analysis for the Week of October 10, 2011

The Australian dollar saw some improvements against the major currencies after the RBA statement said the economy has many resources and the ability to face the global financial crisis with low unemployment, a strong banking system and big investments, increasing demand for Aussie. The sentiment improved with the support provided from the ECB to the banking sector and speculation that the EU is also thinking of means to supporting the financial system by propping up banks to face the debt pressures. Good jobs figures from the United States to the end of the week also supported the sentiment and the return to high yielding assets. Nevertheless, the market is still moving in a narrow range after Moody’s Investor Service downgraded Italy’s rating three notches lower to A2 from Aa2 and warned other nations will also see more downgrades. The market has embraced risk after the ECB, but the trends are still negative as the investors still wait the fundamental data that push them to shift their investments into the higher yielding currencies. Major highlights for this week that will affect the AUD/USD pair’s trading Monday October 10: At 00:30 GMT Australia will start the week with the ANZ job advertisement for September that dropped by 0.6% in August. Tuesday October 11: Australian NAB business confidence indicator for September is due at 00:30 GMT, which was at -8 in August, along with the NAB business conditions and the preceding reading dropped to 03. At 18:00 GMT, the Federal Reserve Bank will release the minutes of its September 20 FOMC meeting. Wednesday October 12: At 23:30 GMT (Tuesday) Australia’s economy is to report the Westpac consumer confidence for October after it dropped by 3.5% in September. Australian home loans index for August will be released at 00:30 GMT on Wednesday after rising 1.0% in July. Thursday October 13: The Australian economy at 00:30 GMT will report a number of important data, where the nation is to release its unemployment rates for September which is expected to remain steady at 5.3%. Moreover, the employment change for September is expected to show 10.0 thousand added jobs after it shed 9.7 thousand workers in August. The U.S. economy will release the Trade Balance for August at 12:30 GMT, where it’s expected to show a widening deficit to $46.0 billion from $44.8 billion. Also at 12:30 GMT, the U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance increased 401 thousand last week. Friday October 14: On Friday at 12:30 GMT, the U.S. economy will issue the Import Price Index for September, where it had a previous reading of – 0.4% and expected to come at – 0.5%, while the annual Import Price Index had a prior reading of 13.0%. The Advance Retail Sales for September will be also due at 12:30 GMT as the index is expected to rise moderately by 0.2% less autos after 0.1% gain in August and excluding gas and auto sales are also expected with 0.2% rise after 0.1%. At 13:55 GMT the University of Michigan confidence for October is expected with a rise to 60.0 from 59.4; and finally at 14:00 GMT Business Inventories for August are expected to hold at 0.4%.

EUR/CHF Technical Analysis for the Week of October 10, 2011

EUR/CHFrose during the week and even managed to press up against the 1.24 level. The 1.24 mark is the start of a larger 200 pip area that is serving as a cap on gains in this pair. The 1.26 level should be the end of massive resistance, and if the market can break that level, this pair should continue to move upwards as the Swiss National Bank continues to work against the appreciation of the Franc. With this in mind, we are willing to wait and see the 1.26 level give way – so we can buy this pair. With the SNB’s recent actions – we are not willing to sell.

EUR/CHF Weekly Fundamental Analysis for the Week of October 10, 2011

The EUR/CHF ended last week on a bullish tone after the ECB helped support the euro and supported a relief rally in markets on the support to the financial sector. Investors found some comfort in the measures deployed by the ECB to ease the financial strain amid the lack of concrete actions from leaders. The bank extended the regular liquidity operations at least until July 2012, and added new 12 and 13 month tenders in addition to setting 40 billion euros for covered bonds purchases which is aimed at ensuring liquidity availability to the market. The measures were taken positively by the market even if the bank did not cut rates which helped the euro rebound and supported the EUR/CHF. Investors though remain wary over the outlook for the debt crisis and with the lack of heavy data from the euro area and Switzerland this week the volatility will extend with focus on the next step from the EU leaders. This week the main focus will be the meeting between Merkel and Sarkozy which might draw some outline to what the support to the banks will be and how will the EFSF be deployed ahead of the coming summing for the leaders. Already we see the euro finding some support for the unwinding of pessimism and if the leaders continued to show progress in breaking the deadlock over supporting financial stability and helping Greece the pair will continue to the upside. The franc is likely to remain weak especially after last week’s data showed a record rise in foreign reserves which confirms the bank’s commitment to defend aggressive currency gains and accordingly keeping demand on the Franc limited and the EUR/CHF for now well supported above the 1.20 floor. Other news from the euro area and the Swiss economy to affect the pair this week: Monday October 10: With the lack of data from the euro area and Switzerland the focus will be on German trade figures at 06:00 GMT for August. Exports are expected with 1.3% rebound after 1.8% drop and Imports are expected to rise by 0.6% after 0.3% drop. Nevertheless, the trade surplus is expected to narrow to 8.2 billion from 10.4 billion and the current account surplus to shrink to 5.1 billion from 7.5 billion. Tuesday October 11: The focus on Tuesday will be on the FOMC minutes for the last meeting when the Fed announced “operation twist” and with the lack of major fundamentals from both the euro area and Switzerland investors will keep their focus on the minutes for any hints for the coming move from the Federal Reserve that will affect the overall market sentiment. Wednesday October 12: The euro area is set to release the Industrial Production for August at 09:00 GMT which is expected with 0.7% drop after 1.0% rise and to rise 2.2% on the year following 4.2% rise. Thursday October 13: Switzerland will release the Producer & Import Prices for September at 07:15 GMT after it was reported with 1.2% drop in August and with 1.9% drop on the year. At 08:00 GMT the ECB will release the monthly report which has little impact on the market since it reiterates the assessment presented following the meeting from Trichet. Friday October 14: The euro area will end the week with inflation figures for September at 09:00 GMT where the CPI index is expected with 0.8% rise on the month following 0.2% gain and on the year to come in line with the flash estimate at 3.0% after 2.5% in August. Core CPI inflation is expected to rise to 1.5% from 1.2%. As for the August trade balance that data is also due at 09:00 GMT and investors will assess if exports are helping the euro area growth and whether the trade improved from July’s seasonally adjusted 2.5 billion euro deficit.

NZD/USD Technical Analysis for the Week of October 10, 2011

The NZD/USD paircontinued to act erratically as the global markets fight investor fear. The resulting candle for the week is a doji right above support, but the Friday action was horribly weak, forming a shooting star. Because of this, we expect the pair to continue to trade in the erratic manner it has been in for a while, with a downward bias. We are not interested in owning riskier currencies at the moment, and the Kiwi is no exception. Because of this – we are selling rallies.

NZD/USD Weekly Fundamental Analysis for the Week of October 10, 2011

The market sentiment improved slightly after the ECB offered more support to banks to cope with the strain and the deepening debt crisis, where the ECB will offer banks one-year loan, starting in October, to be followed by 13-month loan in December, where both will be operated as fixed rate with full allotment. The New Zealand dollar is starting to recover as the economy is benefiting from demand from developing nations, where demand for raw materials is increasing, especially from China. Moreover, Kiwi advanced as stock gains boosted demand for risky assets and also growth linked currencies like kiwi, along with the cheerful data from the Chinese economy, where China’ industrial production continued to accelerate, adding that New Zealand products will increase this period because the Chinese market is the largest market for New Zealand goods. Major highlights for this week that will affect the NZD/USD pair’s trading Monday October 10: Both economies will not release any fundamentals; which will drive the pair to move according on the market sentiment. Tuesday October 11: On Tuesday at 18:00 GMT, the Federal Reserve Bank will release the minutes of its September 20 FOMC meeting. Wednesday October 12: At 23:00 GMT (Tuesday) New Zealand economy will release its house price index for the year ending September after it inclined slightly by 0.1% in August. Moreover, at 00:00 GMT NZD Consumer Confidence indicator for October will be released after 0.6% drop in September. Thursday October 13: The NZ performance of manufacturing index for September is due at 21:30 GMT (Wednesday) after 52.9 in August. The U.S. economy will release the Trade Balance for August at 12:30 GMT, where it’s expected to show a widening deficit to $46.0 billion from $44.8 billion. Also at 12:30 GMT, the U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance increased 401 thousand last week. Friday October 14: On Friday at 12:30 GMT, the U.S. economy will issue the Import Price Index for September, where it had a previous reading of – 0.4% and expected to come at – 0.5%, while the annual Import Price Index had a prior reading of 13.0%. The Advance Retail Sales for September will be also due at 12:30 GMT as the index is expected to rise moderately by 0.2% less autos after 0.1% gain in August and excluding gas and auto sales are also expected with 0.2% rise after 0.1%. At 13:55 GMT the University of Michigan confidence for October is expected with a rise to 60.0 from 59.4; and finally at 14:00 GMT Business Inventories for August are expected to hold at 0.4%.

USD/JPY Technical Analysis for the Week of October 10, 2011

USD/JPYcontinues to sit still and in a tight range at this point as traders continue to fear the Bank of Japan and its propensity to intervene in this pair. The 76 handle looks very supportive now, and the selling of this pair is almost impossible at this point. However, the bullish side doesn’t look overly convincing either. Because of this, we don’t expect much of a long-term opportunity at this point.

USD/JPY Weekly Fundamental Analysis for the Week of October 10, 2011

The USD/JPY pair dropped last week near its post-war levels, where the Japanese yen gained more momentum against the US dollar and other major currencies amid the current pessimism in the global financial market. On the other hand, jitters still control the FX market on concerns regarding the EU debt crisis and it’s negatively effects on other economies. The greenback still weak last week with the easing pessimism which also kept the yen with more gains. The current appreciation in the Japanese currencies increased concerns of another intervention from the Bank of Japan, as the higher yen hurt the Japanese economy recovery. While the Bank of Japan did not change its monetary policy in October, as they mentioned that the Japanese recovery returned to normal but the sluggish global economy and the EU debt crisis still have a negative effect on the economy. Expectations signal for further losses for the USD/JPY pair during the coming period, as jitters spread all over the financial market, increasing demand for the Japanese yen as a safe haven which keeps the pair biased to the downside. Major highlights for this week that will affect the USD/JPY pair’s trading: Monday October 10: Both economies will not release any fundamentals; which will drive the pair to move according on the market sentiment. Tuesday October 11: On Tuesday at 23:50 GMT (Monday), Japan will issue the Current Account Total for August, where it’s expected to show a surplus of 453.6 billion yen from the previous surplus of 990.2 billion yen. The Adjusted Current Account Total for August is expected to show a surplus of 509.9 billion from the previous surplus of 752.5 billion, while the Trade Balance for August is expected to show a deficit of 692.3 billion from the previous surplus of 123.3 billion yen. At 05:00 GMT, Bank of Japan will release its monthly economic report, where it could affect the pair’s movements. The Japanese consumer confidence for September will be released at 05:00 GMT, with a prior reading of 37 and it’s expected to improve to 37.2. The Japanese economy will issue the Eco Watchers Survey: Current for September at 06:00 GMT, where the previous reading was 47.3 and expected to come at 46.5. As for the Eco Watchers Survey: Outlook for September it had a previous reading of 47.1. At 18:00 GMT, the Federal Reserve Bank will release the minutes of its September 20 FOMC meeting. Wednesday October 12: On Wednesday at 23:50 GMT (Tuesday), Japan will release the Machine Orders Index for August, where the previous reading was down by 8.2% and expected to rise by 3.9%. The annual Machine Orders is expected to come at – 3.6% from the previous reading of 4.0%. Thursday October 13: On Thursday at 23:50 GMT (Wednesday), the Bank of Japan will release the minutes for its September 6-7 meeting. At 23:50 GMT, Japan will issue the Tertiary Industry Index for August, where it had a previous reading of –0.1%. The U.S. economy will release the Trade Balance for August at 12:30 GMT, where it’s expected to show a widening deficit to $46.0 billion from $44.8 billion. Also at 12:30 GMT, the U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance increased 401 thousand last week. Friday October 14: On Friday at 12:30 GMT, the U.S. economy will issue the Import Price Index for September, where it had a previous reading of – 0.4% and expected to come at – 0.5%, while the annual Import Price Index had a prior reading of 13.0%. The Advance Retail Sales for September will be also due at 12:30 GMT as the index is expected to rise moderately by 0.2% less autos after 0.1% gain in August and excluding gas and auto sales are also expected with 0.2% rise after 0.1%. At 13:55 GMT the University of Michigan confidence for October is expected with a rise to 60.0 from 59.4; and finally at 14:00 GMT Business Inventories for August are expected to hold at 0.4%.

GBP/USD Technical Analysis for the Week of October 10, 2011

The GBP/USD pairfell for the week, but bounced from the 1.53 level to form a hammer. The signal is very bullish, and a bounce could be expected at this point. However, the pair is very bearish and we think the pair will only bounce – not change direction. The 1.53 level has obviously become some kind of “line in the sand” at this point, and we figure this is an important area to watch. We are of the mind to fade rallies at this point, as the cable is highly sensitive to bad news as well.

GBP/USD Weekly Fundamental Analysis for the Week of October 10, 2011

In the week ended October 7, the GBP/USD pair showed some advance after witnessing strong volatility amid mixed vibes in markets. Hopes that European officials are exerting more effort to contain the debt crisis and the upbeat U.S. data, especially the non-farm payrolls report, enhanced demand on high-yielding currencies. On the other hand, the downbeat data from theU.K.and announcement by the BoE of adding 75 billion pounds to the Asset Purchase Facility put some downside pressure on the pound. This week, little attention may be given to fundamentals where the main focus will probably remain the latest developments from the euro area to see whether any new measures will be introduced to ease the effect of the debt crisis. The release of the data this week will be as follows: Monday October 10: Both nations will not release any key data on Monday. Tuesday October 11: As of 08:30 GMT, the U.K. will release important data; manufacturing production for August is predicted to drop 0.1% from 0.1% rise in July, while industrial production is estimated to advance 0.1% compared with the prior 0.2% fall. For theUS, there will be no fundamentals. At 18:00 GMT, the U.S. will release FOMC minutes meeting. Wednesday October 12: Unemployment data from the British economy will be out at 08:30 GMT, where ILO unemployment for the three months ended August will rise to 8.0% from 7.9% while jobless claims will decline to 19.0 thousands in September from 20.3 thousands a month earlier. Thereafter, U.S. MBA mortgage applications for October 7 will be available at 11:00 GMT. Thursday October 13: At 08:30 GMT, the UK will release trade balance report for the month of August which is expected to show a narrowing deficit to 8700 million pounds from 8922 million pounds, according to the visible trade balance index. At 12:30 GMT, the U.S economy will release trade balance report which is expected to show a widened deficit of $46.0 billion in August from $44.8 billion deficit a month earlier. At the same time, initial jobless claims for the week ended October 7 and continuing claims for the week ended October 1 will be available. Friday October 14: The week ends with the release of some fundamentals from the U.S. which are retail sales for July, University of Michigan confidence for August and business inventories for June at 12:30 GMT, 13:55 GMT and 14:00 GMT respectively, while the U.K. lacks fundamentals.

USD/CAD Technical Analysis for the Week of October 10, 2011

USD/CADhad a wild week over the last 5 sessions, and continues to be choppy in its ranges. However, the Friday session saw a bullish hammer which could suggest that the next move in this pair is to the upside. The CAD is highly sensitive to risk, and we should continue to see the Canadian dollar sell off anytime there is bad news. The pair looks set to move up – but the 1.0650 level will be massive resistance. If it gives way, this pair could continue much farther to the upside.

USD/CAD Weekly Fundamental Analysis for the Week of October 10, 2011

The USD/CAD pair extended fell last week, as sentiment improved in markets after European central banks announced more monetary easing measures, which boosted confidence in markets and supported demand for higher yielding assets. Also the jobs reports from bothCanadaand theUnited Stateswere better than expectations, especially inCanada, as unemployment fell unexpectedly to 7.1% in September from 7.3% in August, as employers added nearly 61 thousand jobs, whileU.S.employers added 103 thousand jobs, but unemployment remained unchanged at 9.1%. The week is low of major fundamentals this week which leaves the focus again on the outlook for growth and the debt crisis. The EU leaders will continue to discuss the means needed to contain the crisis especially with the meeting scheduled between Sarkozy and Merkel where positive comments on how they will help banks and Greece will be good support to the sentiment and help the upside recovery. On the other hand, the FOMC minutes will remind investors of the ongoing downside pressures and intensified downside risks to growth although since the announcement of Operation Twist Bernanke reiterated the Federal Reserve’s commitment to support the recovery and take all necessary steps. Therefore, once again we expect the main attention to be to the debt crisis again and the measures to be taken especially as investors will turn to the G20 summit at the end of the week ahead of the EU leaders summit early the next week which will hold the final answer to markets. Overall, we preserve our bullish outlook for the USD/CAD pair, since financial markets conditions continue to suggest that demand for lower yielding assets will remain strong, and that should continue to provide the USD/CAD pair with more bullish momentum. However, positive data could keep the pressure on the pair and push it further to the downside. Highlights for this week that will probably affect the USD/CAD pair’s direction are: Monday October 10: We don’t have any fundamentals fromCanadaor theUnited Stateson Monday, where Americans celebrate Columbus Day though markets will be open. Tuesday October 11: Canadawill release the housing starts index for September at 12:15 GMT, as the index is expected to rise to 189.0K from 184.7K. The focus on Tuesday will be on the FOMC minutes for the last meeting when the Fed announced “operation twist” and with the lack of major fundamentals investors will keep their focus on the minutes for any hints for the coming move from the Federal Reserve. Wednesday October 12: Canadawill release the new housing price index at 12:30 GMT for August, where the index is expected to rise by 0.1% in line with the prior rise, and compared with a year earlier, the index is expected to rise by 2.3% also in line with the prior rise. We don’t have any fundamentals from the United Stateson Wednesday Thursday October 13: Canadawill release the international merchandise trade balance for August at 12:30 GMT, where the trade deficit is expected to widen to 1.00 billion CAD from the prior deficit of 0.75 billion CAD. TheU.S.trade figures are due at 12:30 and the trade deficit in August is expected to widen to $46.0 from $44.8 billion. The weekly jobless claims are also due at 12:30 GMT after last week they rose to 401 thousand. Friday October 14: Canadawill release the manufacturing sales index at 12:30 GMT, which is expected to have risen in August by 0.4% compared with 2.7% in July. The U.S. economy will end the week with heavy data starting at 12:30 GMT with the September Retail Sales as the index is expected to rise moderately by 0.2% less autos after 0.1% gain in August and excluding gas and auto sales are also expected with 0.2% rise after 0.1%. At 13:55 GMT the University of Michigan confidence for October is expected with a rise to 60.0 from 59.4; and finally at 14:00 GMT, Business Inventories for August are expected to hold at 0.4%.

USD/CHF Technical Analysis for the Week of October 10, 2011

USD/CHFcontinues to push upwards as the global situation continues to keep traders on edge. The Swiss National Bank is working against the appreciation of the Franc, so the currency cannot be bought as a “safe haven”. The US dollar is being used as a refuge as a result. With this in mind, we think the upward moment in this pair will continue and prefer to buy on dips with an understanding that the 0.9000 level should continue to be supportive below us.

USD/CHF Weekly Fundamental Analysis for the Week of October 10, 2011

In the week ended October 7, the USD/CHF pair continued its advance amid speculations the SNB would continue its battle of curbing the franc’s advance, where a report showed that the SNB reserves climbed to 282.4 billion francs at the end of September compared with 253.4 billion francs the previous month as increasing the supply of the franc by the SNB caused the Alpine currency to depreciate, thereby pushing the pair to the upside. This week, little attention may be given to fundamentals where the main focus will probably remain the latest developments from the euro area to see whether any new measures will be introduced to ease the effect of the debt crisis. The release of the data this week will be as follows: Monday October 10: Both economies lack fundamentals, thus the pair is expected to follow the general sentiment in the market. Tuesday October 11: At 18:00 GMT, the U.S. will release FOMC minutes meeting. Wednesday October 12: The U.S. MBA mortgage applications for October 7 will be available at 11:00 GMT, while the Swiss economy has no releases. Thursday October 13: The Swiss economy releases the only data for the week, which is producer and import prices, at 07:15 GMT. At 12:30 GMT, the U.S economy will release trade balance report which is expected to show a widened deficit of $46.0 billion in August from $44.8 billion deficit a month earlier. At the same time, initial jobless claims for the week ended October 7 and continuing claims for the week ended October 1 will be available. Friday October 14: The week ends with the release of some fundamentals from theU.S.which are retail sales for July, University of Michigan confidence for August and business inventories for June at 12:30 GMT, 13:55 GMT and 14:00 GMT respectively.

 

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