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

Key Fundamental Forex Events for the Week of November 28
^th through December 2
^nd The following table lists the key economic data and
other events that came out during the week of November 28
^th through December 2
^nd, 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 28
^th 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 29
^th 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 30
^th 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 1
^st 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 2
^nd 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.