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The new trading week in the forex market starts with a very light economic calendar as there are hardly any major economic events, which can move the market, so expected volatility should be low for today. But in the middle of the week, on Wednesday 13th December 2017 there is the interest rate decision by the Fed, and on Thursday 14th December 2017 there are three major interest rate decisions, from the Swiss National Bank, The Bank of England and the European Central Bank. There should be moderate to high volatility in the forex market on Thursday 24th December 2017 for major currencies such as the Swiss Franc, The British Pound and the Euro.

These are the main economic events for today in the forex market:

European Session

  1. Italy Retail Sales

Time: 09:00 GMT

Higher than expected or rising retail sales are positive for the economy of Italy and the Euro, reflecting increased consumer spending, which leads to higher economic growth. The forecast on a monthly basis is for a reading of -0.1%, much lower than the previous reading of 0.9%.

American Session

  1. US JOLTS Job Openings

Time: 15:00 GMT

An estimate about the total number of job vacancies, is positive for the US economy and the US Dollar when rising or better than expected figures are actually released, as a growing number of job offerings is expected in a strong and robust economy.

Pacific Session

  1. Australia HIA New Home Sales

Time: 00:00 GMT

An increase in home sales reflects a growing housing market, which is positive for the broader economy and supportive for the Australian Dollar. The housing market is also a leading indicator for the broader economy, so trends must be monitored closely as they can reveal important insights on the state of the economy.

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