(Last Updated January 19, 2022 0:25 GMT)
Here’s a look at the main macroeconomic data coming out later today that may impact the forex market.
| Metric Name | Reference Period | Currency | Date | Time | Forecast | Outcome |
|---|---|---|---|---|---|---|
| Australia HIA New Home Sales MoM | Dec 2021 | Australian Dollar | 2022-01-19 | 00:00 GMT | ||
| Canada Inflation Rate YoY | Dec 2021 | Canadian Dollar | 2022-01-19 | 13:30 GMT | 4.8% | |
| Switzerland World Economic Forum Annual Meeting | NA | Swiss Franc | 2022-01-19 | 00:00 GMT | ||
| Euro Area Construction Output YoY | Nov 2021 | Euro | 2022-01-19 | 10:00 GMT | ||
| United Kingdom Inflation Rate YoY | Dec 2021 | British Pound | 2022-01-19 | 07:00 GMT | 5.2% | |
| Japan Balance of Trade | Dec 2021 | Japanese Yen | 2022-01-19 | 23:50 GMT | ¥-784.1B | |
| United States Housing Starts | Dec 2021 | US Dollar | 2022-01-19 | 13:30 GMT | 1.65M | |
| South Africa Inflation Rate MoM | Dec 2021 | South African Rand | 2022-01-19 | 08:00 GMT | 0.4% |
The chart below summarizes the price news by currency, showing which currency strengthened vs which weakened when equally averaged against other currencies. Of note is that JPY was the outperformer for the day, changing by 0.79%. On the flip side, TRY fared the worst, changing by -3.52%.
| Currency Pair | Moving Average Period Crossed |
|---|---|
| USDCAD | 200 |
| EURNZD | 200 |
| EURUSD | 100 |
| CADCHF | 100 |
| ZARJPY | 100 |
| NZDUSD | 50 |
| EURCHF | 50 |
| AUDCHF | 50 |
| USDJPY | 50 |
| AUDNZD | 20 |
From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that USDSEK has perhaps the strongest trend. See the chart below.
Finally, instruments in the Forex asset class that are near their 200 day moving average are GBPUSD, GBPCAD, USDHKD, USDCAD, NZDJPY, EURNZD, USDMXN, AUDNZD and EURJPY.
The Bank of International Settlements helps central banks coordinate their policies. As such, it can be an important institution for forex traders to monitor. Here is the latest from them:
| Link | Publication Date | Summary |
|---|---|---|
| John C Williams: Reading the recovery | 2022-01-16 | Remarks (via videoconference) by Mr John C Williams , President and Chief Executive Officer of the Federal Reserve Bank of New York, at the Council on Foreign Relations, 14 January 2022.And thanks to Richard Haass for the opportunity to speak with the members of the Council on Foreign Relations once again. |
| Rekha Chifuwe Mhango: 2021 findings of the private sector foreign investment and investor perception survey | 2022-01-16 | Speech by Mrs Rekha Chifuwe Mhango , Deputy Governor (Administration) of the Bank of Zambia, at the virtual dissemination workshop of the 2021 findings of the private sector foreign investment and investor perception survey, Lusaka, 15 December 2021.It is my great pleasure to welcome you all to this virtual dissemination workshop of the results of the private sector foreign investment and investor perception survey undertaken in 2021. |
| Benjamin E Diokno: Message – 73rd Inaugural Meeting of the Management Association of the Philippines | 2022-01-16 | Message by Mr Benjamin E Diokno , Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), at the 73rd Inaugural Meeting of the Management Association of the Philippines, Manila, 12 January 2022.Thank you for inviting me to be your guest speaker and inducting officer for the 73rd Inaugural Meeting of the Management Association of the Philippines. |
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–NZDCAD
Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Price action traders may also wish to note that we see a pin bar candlestick pattern on nzdjpy.
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
The closest is the 20 day average, which is 25.7 pips away.
The closest is the 20 day average, which is 38.4 pips away.
For additional context, note that price has gone up 18 out of the past 30 days.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
The closest is the 50 day average, which is 25.4 pips away.
For additional context, note that price has gone up 18 out of the past 30 days.