Weekly outlook / Top 10 forex events: Nov. 1-5

NEW YORK (Forex News Now) – The FNN team has prepared a list of the top 10 economic events most likely to impact currency market trading and make realtime forex news during the coming week, Nov. 1-5.

All times are given in GMT.

1. Manufacturing PMI (GBP): Monday, 9:30 A.M. The market research group Markit is due to publish this key report on the manufacturing sector, based on a survey of purchasing managers, for October. The Institute for Supply Management, a trade group, is later due to publish a similar report in the U.S., also for October.
2. RBA rate decision (AUD): Tuesday, 3:30 A.M. – The Reserve Bank of Australia is due to reach a decision on whether to alter its benchmark interest rate, the Cash Rate. The central bank is also to release a statement accompanying its decision.
3. Retail sales (CHF): Tuesday, 8:15 A.M. – Switzerland’s statistics bureau is to release this data, which is an important gauge of consumer spending, for September.
4. ADP employment change (USD): Wednesday, 12:15 P.M. – ADP, a payroll processing firm, is slated to release this report on the change in U.S. private sector employment, excluding agriculture, in October. The Institute for Supply Management is also due to release a non-manufacturing PMI for the U.S., which is may shake up the day’s currency market trading.
5. Fed rate decision (USD): Wednesday, 6:15 P.M. – The U.S. Federal Reserve is due to reach a decision on whether to alter its benchmark interest rate, the Federal Funds Rate. The Fed’s policy-making committee is also due to issue a statement, whose points often shift the dollar’s FX rate against other major currencies.
6. Unemployment rate (NZD): Wednesday, 9:45 – New Zealand’s statistics agency is due to announce the percentage of total work force that was unemployed and actively seeking employment during the third quarter. The agency will also announce the employment change for the period.
7. BOE rate decision (GBP): Thursday, 12:00 – The Bank of England is due to reach a decision on whether to alter its benchmark interest rate, the Official Bank Rate. The central bank is also scheduled to release a rate statement and announce whether it will change its quantitative easing program.
8. ECB rate decision(EUR): Thursday, 12:45 – The European Central Bank is due to reach a decision on whether to alter its benchmark interest rate, the Minimum Bid Rate. The ECB is to hold a press conference on the decision and monetary policy later in the day.
9. BOJ rate decision (JPY): Friday – The Bank of Japan is due to reach a decision on whether to alter its benchmark interest rate, the Overnight Call Rate. The central bank is to hold a press conference and publish a monetary policy statement.
10. Non-farm employment change (USD): Friday, 12:30 – The Bureau of Labor Statistics is scheduled to release this closely watched monthly report for October. The report is among the news most heavily anticipated by FX traders during the week.