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

Key Fundamental Forex Events for the Week of November 7th
through November 11th The following table lists the key economic
data and other events that came out during the week of November 7th
through the 11th, 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 7th 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 8th
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 9th
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 10th 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 11th 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.