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FOREXYARD: Forex News Blog

FOREXYARD: Forex News Blog

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What to Expect Next Week in the Forex Market

Posted: 28 Jan 2011 11:15 AM PST

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As this week is about to end and the market is set to be closed, here's a list of what looks to be next week's biggest events in the forex market. Next week will certainly be an unusual trading week, as two different monthly interest rates decisions will be announced, one from Australia and the other from the euro-zone. In addition, next week is also the first week of February, which means that the U.S. Non-Farm Payrolls report is scheduled for Friday. Let's review the biggest economic releases which are expected:

Australian Cash Rate (Tuesday, 03:30 GMT)

The Australian Cash Rate is in fact the Reserve Bank of Australia's (RBA) interest rate announcement for February. After the RBA has surprisingly hiked rates by 0.25% to 4.75% on November, analysts currently estimate that it will leave rates at 4.75%. However, if the RBA will surprise and hike rates once again, the AUD will probably see a sharp bullish move as a result.

U.S. ADP Non-Farm Employment Change (Wednesday, 13:15 GMT)

The Automatic Data Processing (ADP) publishes its estimation regarding the change in number of employed people during the previous month, excluding the farming industry and government. The ADP forecast is considered to be quite reliable, and thus its release usually has a large impact on the market.

European Minimum Bid Rate (Thursday, 12:45 GMT)

The Minimum Bid Rate is the euro-zone interest rates announcement for February. Analysis forecast that the European Central Bank (ECB) will leave rates at a record low of 1.00%. What should be more interesting is the ECB's press conference which will be held at the time, as Jean-Claude Tricet, the ECB President, is likely to discuss the ECB's plan to fight off the rising inflation. His speech is likely to create high volatility in the market.

U.S. Non-Farm Employment Change (Friday, 13:30 GMT)

The Non-Farm Employment Change report measures that change in the number of employed people during the January, excluding the farming industry. It is considered to be the release that has the largest impact on the market. If the report will show that the American labor sector continues to recover, the dollar might see a sharp bullish move as a result.
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