This could be a very quiet week for the Forex market, with little on the agenda. The headlines are likely to be dominated by the G7 meeting on Monday, and key data from New Zealand, Australia and the U.S.A. on Thursday. In the absence of any surprises over the Greek Debt Crisis, the U.S. and Australian economies, and New Zealand’s Central Bank, it will probably be a dull week, although a currently strong USD may continue its momentum naturally even if the U.S. data turns out to meet the market’s expectations.
U.S. Dollar
There is no high-impact U.S. data due this week until Thursday, when there will be releases of Retail Sales and Unemployment Claims data. The following day on Friday we will get PPI and Preliminary UoM Consumer Sentiment.
New Zealand Dollar
This will be an important week for the Kiwi, with the RBNZ Official Cash Rate and Rate Statement due on Thursday, followed by the customary press conference. On Tuesday we will get GDP Price Index data.
Australian Dollar
A reasonable amount of data is due this week from Australia, commencing with NZB Business Confidence on Tuesday. The Governor of the RBA will be speaking at a domestic event Wednesday. Thursday will see the release of Unemployment Rate and Employment Change data.
British Pound
It should be a quiet week for the Pound, with nothing scheduled except for Wednesday’s Manufacturing Production data release. Later that day the Governor of the Bank of England will be speaking at a domestic event.
Euro
There are no high-impact data releases due this week at all, but the continuing spat over the Greek debt crisis may continue to trigger market drama if any leaks or pronouncements become public knowledge from the antagonists. This is most likely to find expression on Monday when the all-day G7 meetings will be taking place.
Canadian Dollar
It will probably be a quiet week for the Loonie, with Building Permits data being released on Monday, but nothing else notable until Thursday when the Governor of the Central Bank will be speaking at a domestic event.