Weekly Forex Market Followup (November 7th - November 11th 2011)

Key Fundamental Forex Events for the Week of November 7
^th through November 11
^th The following table lists the key economic data and
other events that came out during the week of November 7
^th through the 11
^th, with release times displayed for the GMT time zone.
The list also indicates how much each release deviated from the
market consensus forecast upon release, as well as what the
affected major currency pair or pairs did after each event or set
of events. Monday, November 7
^th 12:30am AUD ANZ Job Advertisements -0.7% versus -2.1%
expected. The AUD fell. 8:00am GBP Halifax HPI 1.2% versus 0.1%
expected. The GBP fell. Tuesday, November 8
^th 12:30am AUD Trade Balance 2.56B versus 3.04B
expected. The AUD rose slightly. 9:30am GBP Manufacturing
Production 0.2% versus 0.2% expected. The GBP rose slightly. 1:14pm
CAD Housing Starts 208K versus 201K expected. The CAD rose. 1:30pm
CHF SNB Chairman Hildebrand spoke. He said that, The franc is still
highly valued versus the euro at the current exchange rate. We
expect it to weaken further over time. The CHF rose. Wednesday,
November 9
^th 12:30am AUD Home Loans 2.2% versus 1.7% expected. The
AUD fell. 1:30am CNY CPI 5.5% versus 5.4% expected. 2:30pm USD Fed
Chairman Bernanke spoke. He said that, The Federal Reserve System
is committed to supporting small business and entrepreneurship. We
do that, for example, through research that adds to our stock of
knowledge about the catalysts for and barriers to entrepreneurship.
The USD rose. 8:00pm NZD RBNZ Financial Stability Report noted
that, Financial markets have become more stable since the European
sovereign debt crisis earlier in the year. But the widespread
withdrawal of fiscal stimulus and debt reduction by consumers and
businesses continue to pose risks to the global recovery. The NZD
fell. Thursday, November 10
^th 12:30am AUD Employment Change 10.1K versus 10.3K
expected. 12:30am AUD Unemployment Rate 5.2% versus 5.3% expected.
The AUD rose. 2:01am CNY Trade Balance 17.0B versus 26.3B. 12:00pm
GBP Asset Purchase Facility 275B, as expected. 12:00pm GBP Official
Bank Rate 0.50%, as expected. 12:00pm GBP The MPC Rate Statement
noted that, The Bank will continue to offer to purchase
high-quality private sector assets on behalf of the Treasury,
financed by the issue of Treasury bills, in line with the
arrangements announced on 29 January 2009. The GBP rose. 1:30pm CAD
Trade Balance 17.0B versus -0.5B expected. The CAD rose. 1:30pm USD
Trade Balance -43.1B versus -46.1B expected. 1:30pm USD Weekly
Initial Jobless Claims 390K versus 402K expected. The USD fell.
Friday, November 11
^th All Day EUR French Bank Holiday 9:30am GBP PPI Input
-0.8% versus 0.0% expected. The GBP rose. All Day CAD Bank Holiday
All Day USD Bank Holiday 2:55pm USD Preliminary University of
Michigan Consumer Sentiment 64.2 versus 61.1 expected. The USD
fell. Technical Recap for the Majors This Week EURUSD:
Forecast: Mildly HigherActual: Mildly lower from a 1.3817 open to a
1.3735 close. USDJPY: Forecast: Mildly LowerActual: Mildly lower
from a 78.12 open to a 77.12 close. GBPUSD: Forecast:
HigherActual: Mildly higher from a 1.6055 open to a 1.6081 close.
AUDUSD: Forecast: Mildly HigherActual: Lower from a 1.0409
open to a 1.0271 close. USDCAD: Forecast: Mildly LowerActual:
Mildly lower from a 1.0161 open to a 1.0117 close. NZDUSD:
Forecast: Mildly HigherActual: Mildly lower from a 0.7957 open to a
0.7854 close.