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FX weekly pivots, currencies to watch and key events

FX Majors Weekly Pivots

  R3 R2 R1 Pivot S1 S2 S3
EURUSD 1.3107 1.305 1.2943 1.2886 1.2778 1.2721 1.2614
GBPUSD 1.6855 1.6688 1.6494 1.6328 1.6132 1.5966 1.5769
USDCAD 1.1279 1.1188 1.1068 1.0977 1.0856 1.0766 1.0644
USDJPY 112.59 110.984 109.954 108.392 107.345 105.77 104.744
USDCHF 0.9589 0.9511 0.9457 0.9378 0.9324 0.9246 0.9192


Currencies/Events to Watch this Week

  • The Sterling could very well stage a comeback this week as economic data from the UK relatively light. Watch out for the GBPUSD, GBPCAD and GBPJPY pairs
  • US Final Q2 GDP will be out and markets will be looking for a 4.6% upward revision from 4.2%. Any downward revision will drive the bears back into the game, bullish print could see the markets reading into the Fed’s timetable for a rate hike by June 2015, if not earlier.

Fundamentals for the Week 22 – 26 September

Date Event Estimates
22 September ECB President Mario Draghi speaks
Eurozone Consumer confidence
US Existing home sales 5.21Mn
23 September China Flash Manufacturing PMI 50
French Flash Manufacturing PMI 47.1
French Flash Services PMI 50.2
German Flash Manufacturing PMI 51.3
German Flash Services PMI 54.6
Eurozone Flash Manufacturing PMI 50.6
Eurozone Flash Services PMI 53.2
Canada Core Retail sales m/m -0.1%
Canada Retail sales m/m 0.4%
US HPI m/m 0.4%
US Flash Manufacturing PMI 58.1
24 September Japan Flash Manufacturing PMI 52.5
German Ifo Business Climate 105.9
US New Home sales 432k
25 September US Core durable goods orders m/m 0.7%
Durable goods orders m/m -17.7%
US Flash Services PMI 59.4
26 September Tokyo Core CPI y/y 2.7%
19 September Japan National Core CPI y/y 3.2%
US Final GDP q/q 4.6%
US Revised UoM Consumer Sentiment 85.1


John Benjamin

John Benjamin

John is a market analyst for Orbex Ltd. and is a forex and equities trader having been involved in trading since late 2009. John makes use of a mix of technical and fundamental analysis and inter-market relationships. The analysis present here is a mix of intra-day analysis while considering the long term outlook of the markets as well. For any comments or questions, John can be reached at [email protected]