Weekly Forex Market Forecast (December 5th - December 9th 2011)

Key Fundamental Forex Events and Forecasts for the Coming
Week The following table lists the key economic data and other
events that are due out during the week of December 5
^th December 9
^th, with release times displayed for the GMT time zone.
The list also includes the current market consensus forecast for
each event and indicates what sort of deviation might affect the
forex market valuation of the indicated currency positively.
Monday, December 5
^th 12:30am AUD ANZ Job Advertisements (last -0.7%)
9:30am GBP Services PMI (50.6) 3:00pm USD ISM Non-Manufacturing PMI
(53.6) Tuesday, December 6
^th 3:30am AUD Cash Rate (4.25%) 3:30am AUD RBA Rate
Statement 8:00am CHF Foreign Currency Reserves (last 242.7B)
6th-7th GBP Halifax HPI (last 1.2%) 8:15am CHF CPI (0.1%) 1:30pm
CAD Building Permits (3.2%) 2:00pm CAD BOC Rate Statement 2:00pm
CAD Overnight Rate (1.00%) 3:00pm CAD Ivey PMI (55.1) Wednesday,
December 7
^th 12:30am AUD GDP (1.2%) 9:30am GBP Manufacturing
Production (-0.1%) 8:00pm NZD Official Cash Rate (2.50%) 8:00pm NZD
RBNZ Press Conference 8:00pm NZD RBNZ Rate Statement Thursday,
December 8
^th 12:30am AUD Employment Change (10.6K) 12:30am AUD
Unemployment Rate (5.2%) 12:00pm GBP Asset Purchase Facility (275B)
12:00pm GBP Official Bank Rate (0.50%) Tentative GBP MPC Rate
Statement 12:45pm EUR Minimum Bid Rate (1.25%) 1:15pm CAD Housing
Starts (203K) 1:30pm EUR ECB Press Conference 1:30pm USD Weekly
Initial Jobless Claims (397K) Friday, December 9
^th 1:30am CNY CPI (4.6%) All Day EUR EU Economic Summit
9:30am GBP PPI Input (0.3%) 1:30pm CAD Trade Balance (0.8B) 1:30pm
USD Trade Balance (-43.5B) 2:55pm USD Preliminary University of
Michigan Consumer Sentiment (65.6) Technical Forecast and Levels to
Watch for the Majors This Week EURUSD: Lower Resistance:Initial:
1.3495, 1.3546/68, 1.3614, 1.3795/98 and 1.3813/27.Above:
1.3854/58, 1.3868, 1.3973, 1.4054, 1.4246 and 1.4548.
Support:Initial: 1.3362, 1.3333, 1.3241/58, 1.3211, 1.3145, 1.3055
and 1.3000.Below: 1.2968, 1.2917, 1.2873, 1.2643 and 1.2586.
USDJPY: Mildly Higher Resistance:Initial: 78.28, 78.66, 79.05,
79.40, 79.52, 79.96, 80.00, 80.22 and 80.82.Above: 81.34, 81.76,
82.01/22, 82.77, 83.09 and 83.77. Support:Initial: 77.78/89, 77.48,
77.29, 77.00, 76.83, 76.57, 76.41, 76.10, 75.94 and 75.70.Below:
75.65, 75.56, plus 75.00 and 70.00 likely. GBPUSD: Lower
Resistance:Initial: 1.5624/85, 1.5691, 1.5745, 1.5868/90,
1.5912/19, 1.5932, 1.5945 and 1.5977.Above: 1.6000, 1.6093,
1.6130/65, 1.6206, 1.6259, 1.6332/47, 1.6434/73, 1.6500/98 and
1.6616. Support:Initial: 1.5516/31, 1.5483, 1.5422, 1.5373,
1.5339/55, 1.5326, 1.5293, 1.5270, 1.5123 and 1.5000.Below: 1.4947,
1.4782, 1.4769, 1.4474, 1.4345 and 1.4229. AUDUSD: Lower
Resistance:Initial: 1.0229, 1.0303/70, 1.0444/98, 1.0608, 1.0654
and 1.0718/84.Above: 1.1010 and 1.1079. Support:Initial: 1.0184,
1.0100/16, 1.0052, 1.0000, 0.9925/83, 0.9863 and 0.9732.Below:
0.9689, 0.9661/67, 0.9651, 0.9620/27, 0.9536/41, 0.9500, 0.9486,
0.9386, 0.9341 and 0.9220. USDCAD: Mildly Higher
Resistance:Initial: 1.0221, 1.0262/87, 1.0302, 1.0337, 1.0417,
1.0438, 1.0481, 1.0500, 1.0506, 1.0522, 1.0646/56, 1.0669, 1.0742,
1.0756 and 1.0785.Above: 1.0853, 1.0868, 1.1000 and 1.1101/23.
Support:Initial: 1.0172/99, 1.0132/42, 1.0105, 1.0026/78, 0.9969
and 0.9934.Below: 0.9891, 0.9828/77, 0.9724/96, 0.9686 and 0.9645.
NZDUSD: Lower Resistance:Initial: 0.7804, 0.7836, 0.7855/59 and
0.7881/88.Above: 0.7955/96, 0.8066/93, 0.8109/90 and 0.8240.
Support:Initial: 0.7795, 0.7761, 0.7723/41, 0.7605/72, 0.7500/52,
0.7404/67, 0.7369, 0.7342 and 0.7321.Below: 0.7189, 0.7115, 0.7000,
0.6945/62, 0.6793 and 0.6560.