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 5th December
9th, 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
5th 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 6th 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 7th 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 8th 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 9th 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.