The upcoming week in forex trading features a return of data from the US. The two major events are a new interest rate on Wednesday (probably unchanged), and the Advance GDP on Friday.Also Home Sales information will be in the limelight in America. This week, it’s New Zealand turn to slash interest rates, Canada will show a decline in GDP, and the German Ifo Business Climate will dominate European news. So, lets dive in with more detail: Monday, January 26th, the British Bankers’ Association will release the BBA Mortgage Approvals, which is expected to stand at 17K. Will there be another plunge in UK mortgages? Real estate will also dominate American news: the Existing Home Sales will be published in the US, and is expected to stand at 4.4 million. Tuesday, January 27th, the BOJ will publish the Monetary Policy Meeting Minutes that featured a rate hold of 0.1% in Japan. This might shed a light on possible intervention plans by the central bank, to weaken the Yen. In Australia, the quarterly PPI is forecasted at 0.4%, as well as the NAB Business Confidence. UBS will publish the UBS Consumption Indicator in Switzerland, indicating on the direction of CHF. In Europe, a major figure is the German Ifo Business Climate which is expected to decrease to 81. Also the European Current Account will be of interest to forex traders. In Britain, the CBI Realized Sales will be in the focus, expected to drop by 53 points. American data this day consists of the CB Consumer Confidence, expected at a low of 38.7, and the Richmond Manufacturing Index. In Canada, BOC’s Mark Carney will talk about the economy at the Chamber of Commerce, in Halifax. Wednesday, January 28th, Australia will publish the quarterly CPI, which is expected to fall by 0.4%. A complementary figure from Australia is the Trimmed Mean CPI which is expected to rise by 0.8%. German data will dominate European economic news: GfK German Consumer Climate and the monthly German Prelim CPI are released. Switzerland’s KOF Economic Barometer will impact the CHF. And, at 19:15 GMT, Ben Bernanke’s Federal Reserve will publish the new interest rate for America in Obama’s era. The Federal Funds Rate is expected to be left unchanged at 0.25%. The new rate will be accompanied by the FOMC Statement. A new interest rate will also be published in New Zealand: The new Official Cash Rate is expected to fall by 1% to 4%, still one of the West’s highest interest rates. There will also be an RBNZ Rate Statement following the expected rate cut. Kiwi traders should also be aware of the Trade Balance in New Zealand. Thursday, January 29th, the the retail sales will be published in Japan. In Britain, the monthly Nationwide HPI is expected to drop by “only” 1.8%, after last month’s -2.5%. In Europe, the German Unemployment Change will be closely watched. This is also a major political event in an election year. In Canada, the monthly RMPI and IPPI will be released. And the major news comes from the US: monthly Core Durable Goods Orders are expected to fall by 2.6%. Also Durable Goods Orders are expected to fall, but “only” at 1.9%. Weekly Unemployment Claims are expected at 580,000 after last week’s disappointment. And, after the Existing Home Sales on Monday, Thursday sees the New Home Sales, expected to fall to 390,000. Closing the day in New Zealand: the monthly Building Consents. Friday, January 30th: On the last day of the week, lots of data from Japan will be released: the Manufacturing PMI, yearly Household Spending, the yearly Tokyo Core CPI, Unemployment Rate, and monthly Prelim Industrial Production. This will be coverred in detail on Friday. Australia’s monthly CB Leading Index will start the day, and the monthly Private Sector Credit will follow. It’s expected to rise by 0.5%. In Britain, the GfK Consumer Confidence is expected to fall by 34 points. Much later in the day, monthly Net Lending to Individuals is expected to at 1.3 billion. Also Mortgage Approvals will be of interest. In Europe, the yearly CPI Flash Estimate is predicted to be up 1.4%, while the late figure of Unemployment Rate is expected to rise to 7.9%. And the big GDP news is in the afternoon: the Advance GDP in the US is predicted to fall by a whopping 5.4% (annually)! Accompanying this figure will be the Advance GDP Price Index, and Employment Cost Index. The American figures will overshadow Canada’s GDP, which is fore casted to fall by 0.5%. Closing the week: Chicago PMI, Revised UoM Consumer Sentiment and Revised UoM Inflation Expectations. These three figures are also important, despite the big news expected earlier from the GDP info. Happy Forex Trading! Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Weekly Forex Forecasts share Read Next Forex Daily Analysis – January 26th 2009 Yohay Elam 14 years The upcoming week in forex trading features a return of data from the US. The two major events are a new interest rate on Wednesday (probably unchanged), and the Advance GDP on Friday.Also Home Sales information will be in the limelight in America. This week, it's New Zealand turn to slash interest rates, Canada will show a decline in GDP, and the German Ifo Business Climate will dominate European news. So, lets dive in with more detail: Monday, January 26th, the British Bankers' Association will release the BBA Mortgage Approvals, which is expected to stand at 17K. 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