Weekly Forex Market Followup (November 28th - December 2nd 2011)

Key Fundamental Forex Events for the Week of November 28th
through December 2nd The following table lists the key economic
data and other events that came out during the week of November
28th through December 2nd, 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 28th 12:00am NZD NBNZ Business
Confidence 18.3 versus last 13.2. The NZD rose. 3:00pm GBP
Inflation Report Hearings included testimony from BOE Governor King
that, I don't think it's as bad here as it is in the euro area
economy, where ... the deleveraging of euro area banks is leading
to early signs of a credit crunch, with concerns that it will get
worse. The GBP rose. 3:00pm USD New Home Sales 307K versus 313K
expected. The USD fell. Tuesday, November 29th 7:00am GBP
Nationwide HPI +0.4% versus -0.1% expected. The GBP rose. 3:00pm
USD CB Consumer Confidence 56.0 versus 43.8 expected. The USD was
mixed. 9:45pm NZD Building Consents +11.2% versus last -17.1%. The
NZD rose. Wednesday, November 30th 12:30am AUD Private Capital
Expenditure 12.3% versus 8.2% expected. The AUD rose. All Day EUR
The ECOFIN Meetings were held at which it was agreed to use the
European Financial Stability Facility to provide a 20-30% bailout
to investors who purchase new debt from financially challenged
Eurozone countries. The EUR rose. 10:30am CHF KOF Economic
Barometer 0.35 versus 0.66 expected. The CHF rose. 1:00pm USD The
Federal Reserve announced that it and other major central banks
would reduce the pricing on existing temporary U.S. Dollar
liquidity swaps by 50bps equal to 50 bps over the U.S. Dollar
Overnight Index Swap (OIS) rate. 1:15pm USD ADP Non-Farm Employment
Change 206K versus 131K expected. 1:30pm CAD GDP 0.2%, as expected.
The CAD rose. 3:00pm USD Pending Home Sales 10.4% versus 1.3%
expected. The USD fell. Thursday, December 1st 12:30am AUD Building
Approvals -10.7% versus 3.6% expected. 12:30am AUD Retail Sales
0.2% versus 0.4% expected. The AUD fell. 1:00am CNY Manufacturing
PMI 10.4% versus 49.8 expected. 9:30am GBP Manufacturing PMI 47.6
versus 47.2 expected. The GBP fell mildly. 1:30pm USD Weekly
Initial Jobless Claims 402K versus 390K expected. 3:00pm USD ISM
Manufacturing PMI 52.7 versus 51.6 expected. The USD rose. Friday,
December 2nd 8:15am CHF Retail Sales -0.2% versus 1.2% expected.
The CHF fell. 9:30am GBP Construction PMI 52.3 versus 52.2
expected. The GBP fell. 12:00pm CAD Employment Change -18.6 versus
17.2K expected. 12:00pm CAD Unemployment Rate 7.4% versus 7.3%
expected. The CAD fell. 1:30pm USD Non-Farm Payrolls 120K versus
119K expected. 1:30pm USD Unemployment Rate 8.6% versus 9.0%
expected. The USD rose. Technical Recap for the Majors This Week
EURUSD: Forecast: Mildly LowerActual: Higher from a 1.3322 open to
a 1.3472 close. USDJPY: Forecast: Mildly HigherActual: Mildly
higher from a 77.57 open to a 77.92 close. GBPUSD: Forecast: Mildly
LowerActual: Higher from a 1.5486 open to a 1.5657 close. AUDUSD:
Forecast: Mildly LowerActual: Higher from a 0.9819 open to a 1.0262
close. USDCAD: Forecast: Mildly HigherActual: Lower from a 1.0429
open to a 1.0151 close. NZDUSD: Forecast: Mildly LowerActual:
Higher from a 0.7506 open to a 0.7798 close.