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The last trading session in the forex market for the week after a US holiday has several important economic news related to the Euro, British Pound, Swiss Franc, and Japanese Yen. As almost all the major currency pairs have important economic announcements, volatility and price action is expected to be moderate to high.

These are the main economic events in the forex market today which can move the market:

European Session

  1. Switzerland Industrial Production

Time: 08:15 GMT

Higher than expected or rising Industrial Production will be positive for the Swiss economy and Swiss Franc, as it refers to the output of several sectors such as mining, manufacturing and public utilities, with rising figures reflecting stronger economic and business activity.

  1. Germany IFO Expectations, IFO Current Conditions, IFO Business Climate

Time: 09:00 GMT

As figures above zero indicate optimism and figures below zero indicate negative sentiment, higher than expected or rising figures are positive for the German economy and the Euro. The figures reflect optimism on several sectors of the economy, such as manufacturing, retail, but also on the broader economy itself. IFO Expectations and Current Conditions figures are expected to rise, while IFO Business Climate is expected to decline marginally.

  1. UK BBA Mortgage Approvals

Time: 09:30 GMT

A higher than expected reading for mortgage approvals reflects a robust housing market, and inflationary pressures in the economy, being positive and supportive for the British Pound. A decline is expected for the number of home mortgage approvals.

  1. France Unemployment Benefit Claims

Time: 17:00 GMT

Initial Jobless Claims measures the number of people that filed for unemployment benefits for the first time. An increasing figure signals for a deteriorating labor market and is negative for the Euro and French economy.

American Session

  1. US Markit Manufacturing, Services, Composite PMI Flash

Time: 14:45 GMT

Any reading above the 50.0 level indicates expansion and strong economic and business activity, which is positive for the US economy and the US Dollar. Both figures for Manufacturing and Services PMI are expected to increase slightly, and this can be supportive for the US Dollar, as after the low volatility due to the US holiday and its depreciation against major currencies on Wednesday 22nd November 2017, any positive economic data may act as support.

Asian Session

  1. Nikkei Manufacturing PMI Flash

Time: 00:30 GMT

The Purchasing Managers Index is a an indicator of the economic health of the manufacturing sector, with rising figures being positive indicating increased economic, and business activity and output. The forecast is for a small decline with a reading of 52.6, lower than the previous reading of 52.8, which can be considered neutral to slightly negative for the Japanese economy and the Yen.

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