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This Week?s FX Money Market Economic Data Highlights for : GBP EUR USD AUD NZD CAD

March 29, 2016 - Written by Tim Boyer

The Euro has remained in a stable position today, thanks to a scattering of positive Eurozone data and a converse deterioration of US economic prospects.

Having been somewhat supported by the German inflation rate stats today, the Euro may be bolstered further tomorrow morning by the optimistically forecast unemployment rate results for March.

Euro (EUR) Exchange Rate Forecast: German Consumer Prices in Focus

Tier one data releases between now and the weekend are loaded into the back end of this week’s session thanks to the Easter Holidays. Our leading analyst takes a look at the statistics that matter over the next four days and forecasts the effect they will have on the leading global currencies …

Movement is anticipated for the euro (currency : EUR) ahead of the weekend market shutdown. Tomorrow’s German Consumer Price Index data will be closely monitored by FX insiders, with analysts looking for a move back into positive territory following February’s 0.0% showing to provide evidence that the European Central Bank’s newly extended Quantitative Easing programme is having the desired effect.

The German inflation data will be complimented by Thursday’s unemployment figures from the powerhouse Teutonic economy. However, the big number for the week, as far as holders of the euro are concerned, comes later on Thursday morning in the form of March’s whole of eurozone Consumer Price Index data.

US Non-Farm Payrolls to Provoke USD Exchange Rate Volatility

The number one risk event of the week comes on Friday afternoon with the release of March’s US Non-Farm Payrolls data. February’s counterpart figure showed at 242,000 and the latest number is almost certain to print at below this level.

However, another showing above 200,000 would suggest that the US economic recovery is gaining traction – a development which would favour the US Dollar (currency : USD) as well as the usual risk-driven suspects, (think AUD, NZD, CAD)…

China Manufacturing Data to Cause Commodity Dollar Movement (AUD, NZD and CAD)

Meanwhile, the early hours of Friday morning bring another data publication which is almost guaranteed to alter the relative value of the Australian Dollar (currency : AUD), New Zealand Dollar (currency : NZD) and Canadian Dollar (currency : CAD).

February’s official survey of China’s vast manufacturing sector showed that activity levels were in decline; if the latest edition suggests that this decline has accelerated, then the Pound Sterling (currency : GBP) could record sustained gains against the Commodity Dollars.

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