A turbulent week has seen the dollar dive but recover quite nicely. US Consumer Confidence, ADP jobs release, Canadian GDP, Janet Yellen’s speech, and a buildup to the highly important US monthly jobs report are the highlights of this week. Here is an outlook on the market movers on Forex calendar. The dollar suffered for while, on unimpressive durable goods orders. The pain was especially strong against the euro, that received only normal dovish words from Draghi. Yet the fate changed as Yellen surprised with a hawkish tone, stressing that a 2015 hike is certainly on the cards. The final GDP estimate for the second quarter in the US beat forecasts with a better than expected reading of 3.9% annual growth. Elsewhere, the Aussie struggled with another weak Chinese figure and USD/CAD reached an 11 year high, yet these commodity currencies recovered. Let’s start: [do action=”autoupdate” tag=”MajorEventsUpdate”/] William Dudley speaks: Monday, 12:30. William Dudley, president of the New York Federal Reserve will give an interview for the Wall Street Journal and talk about the rate hike issue and about inflation expectations. In his former talks, Dudley spoke against a rate rise in September amid international and financial market developments, but noted he hopes the Fed will still raise rates this year. Market volatility is expected. US CB Consumer Confidence: Tuesday, 14:00. U.S. consumer confidence edged up in August, rebounding after a sharp fall in July. The Conference Board consumer confidence index increased to 101.5 from a revised 91.0 in the prior month mainly due to an improved view of the labor market. Current conditions were more favorable in terms of the job market viewing jobs as “plentiful” increased from 19.9% in July to 21.9% in August. Those who viewed jobs as “hard to get” decreased from 27.4% in July to 21.9% in August. Analysts believe the strong reading will support stronger consumer spending in the following months. US consumer confidence is expected to reach 96.2 this time. US ADP Non-Farm Payrolls: Wednesday, 12:15. The U.S. private sector continued to increase the pace of hiring in August, despite global financial market turmoil. The ADP Report showed private payrolls increased 190,000 from 177,000 in July. The reading was below economists’ expectations but was in line with the growth trend of the first seven months of this year. Furthermore, strong data from manufacturing and domestic activity show a pick-up in economic activity. Economists expect ADP release will show a 191,000 job gain. Canadian GDP: Wednesday, 12:30. Canada’s economy expanded 0.5% in June, after a 0.2% contraction in the previous month. However, this positive reading could not offset the negative growth in the second quarter as a whole. On an annualized basis, the economy shrank 0.5% in the April-to-June period, following 0.8% annual pace contraction in the first three months of 2015. Policymakers were concerned about the possibility of a recession, but recent data suggests a growth trend in the third quarter. Canadian GDP for July is expected to reach 0.2%. Janet Yellen speaks: Wednesday, 19:00. Federal Reserve Chair Janet Yellen is scheduled to speak in St. Louis. Following the important Fed meeting in September where the Federal Reserve postponed the rate hike move, Fed Chair Janet Yellen said the U.S. central bank is still prepared to raise interest rates this year for the first time in nearly a decade. Yellen said that recent inflationary weakness is temporary, caused by a strong dollar and low oil prices, which are likely to pass. She said U.S. economic prospects appear solid suggesting a rate hike is near. Market volatility is expected. US Unemployment Claims: Thursday, 12:30. The number of applications for unemployment benefits, filed last week, rose less than expected, reaching 267,000, indicating the growth trend in the US economy continues. Economists expected the number of claims to reach 268,000. The four-week moving average dropped by 750 to the lowest level in more than a month, reaching 271,750. The number of people continuing to receive jobless benefits was little changed at 2.24 million. The number of new claims is expected to rise to 273,000 this week. US ISM Manufacturing PMI: Thursday, 14:00. The U.S. manufacturing sector expanded at the slowest pace since May 2013, reaching 51.1 after posting 52.7 in July. New orders fell 4.8% to 51.7, also the lowest level since May 2013. The employment index declined to 51.2 from 52.7 in July. The weak employment reading indicates a mild slowdown in factory payroll gains in August. Economists expect manufacturing PMI to reach 51.3 in September. US Non-Farm Payrolls: Friday, 12:30. U.S. job growth moderated in August, but the unemployment rate declined to a near 7-1/2-year low while wages increased. Nonfarm payrolls increased 173,000 in August after an upwardly revised addition of 245,000 jobs in July. August’s increase was the smallest in five months amid job loss in the manufacturing sector. Despite the mixed report, the general trend remains positive indicating that the U.S. economy remains strong. Analysts expect a jobs gain of 202,000 in September with an unemployment rate of 5.1%. Monthly wages are expected to rise by 0.2%. That’s it for the major events this week. Stay tuned for coverage on specific currencies *All times are GMT. In our latest podcast we explain why the dollar defies the doves Follow us on Sticher. Anat Dror Anat Dror Anat Dror Senior Writer I conceptualize, design and create multi-lingual websites. Apart from the technical work, my projects usually consist of writing content for these sites in English, French and Hebrew. In the past, I have built, managed and marketed an e-learning center for language studies, including moderating a live community of students. I've also worked as a community organizer Anat's Google Profile View All Post By Anat Dror MajorsUS Dollar Forecast share Read Next Catalonia’s elections could result in fresh risk for the Yohay Elam 7 years A turbulent week has seen the dollar dive but recover quite nicely. US Consumer Confidence, ADP jobs release, Canadian GDP, Janet Yellen's speech, and a buildup to the highly important US monthly jobs report are the highlights of this week. Here is an outlook on the market movers on Forex calendar. The dollar suffered for while, on unimpressive durable goods orders. The pain was especially strong against the euro, that received only normal dovish words from Draghi. Yet the fate changed as Yellen surprised with a hawkish tone, stressing that a 2015 hike is certainly on the cards. 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