The last trading session for the week today in the forex market does not have in its calendar the US non-farm payrolls, as they are reported on the 1st Friday of each month, but still it has important economic data related to the economies of Canada, Eurozone and US. Moderate to high volatility is expected mainly for the USD/CAD currency pair.
These are the main economic events in the forex market today:
European Session
- Russia Manufacturing PMI, Italy Markit/ADACI Manufacturing PMI, Germany Markit Manufacturing PMI Final, Italy GDP Growth Rate Final, Spain Markit Manufacturing PMI
Time: 06:00 GMT, 08:15 GMT, 08:45 GMT, 08:55 GMT, 09:00 GMT
Higher than expected or rising figures for the economic data, will be supportive and positive for the Russian Ruble and the Euro, indicating expansion for the economies of Russia and the members of the Eurozone.
- Switzerland SVME Manufacturing PMI, Eurozone Markit Manufacturing Final, UK Markit/CIPS Manufacturing PMI
Time: 08:30 GMT, 09:00 GMT, 09:30 GMT
All forecasts are for an increase of the mentioned economic data, which is positive for the Swiss Franc, Euro and the British Pound, as the increase indicates increased economic and business activity.
American Session
- Canada GDP Growth Rate, Canada Unemployment Rate, Employment Change and Participation Rate
Time: 13:30 GMT
Rising figures for the GDP Growth Rate, Employment Change and lower for the Unemployment Rate will be supportive for the economy of Canada and the Canadian Dollar, indicating a robust economy.
- US Markit Manufacturing PMI Final, Construction Spending, ISM Manufacturing PMI, ISM Manufacturing Employment, Total Vehicle Sales, Fed Bullard Speech, Fed Kaplan Speech
Time: 14:05 GMT, 14:30 GMT, 14:45 GMT, 15:00 GMT, 20:00 GMT
Again higher than expected or rising figures are positive for the US economy, and the US Dollar, but the forecasts are for a decline in the readings related to the manufacturing sector, showing an expansion but at a lower rate. Same applies for the total vehicle sales, a decline is expected, which can be interpreted as lower consumer spending, which is negative for future economic growth.
Asian Session
5. Japan Nikkei Manufacturing PMI Final
Time: 00:30 GMT
The forecast is for an unchanged reading of 53.8, which is considered neutral and may have little effect on the Japanese Yen, as it still shows expansion for the manufacturing sector, but zero growth compared to the previous reading.
