News Breakdown for the week of May 17th

The staff at Forex Club would like to wish you a great trading week. To help you nail each of your trades, we’d like to give you this breakdown of the economic events occurring during the week of May 17th, 2009.On Monday, May 18th, US Department of Treasury Secretary Timothy Geithner will give a speech at 15:30 (GMT). Volatility is often experienced during his speeches. At 17:00 (GMT), the National Association of Home Builders will release its Housing Market Index for May, which may affect the USD. The Forecast is 16. The Reserve Bank of Australia’s governor Glenn Stevens will give a speech at 22:10 (GMT). His speech may determine a trend in the AUD.On Tuesday, May 19th, the Reserve Bank of Australia will hold its Meeting’s Minutes at 1:30 (GMT). The AUD may move in accordance to how hawkish the RBA is about the inflationary outlook for the economy. 8:30 (GMT) is going to be a traumatic time for the GBP. At 8:30 (GMT) the UK’s Consumer Price Index will be released, possibly affecting the GBP. The forecast is 0.4% for the (MoM) and 2.4% for the (YoY). At the same time, the Core Consumer Price Index will be released. Its forecast is 1.7%. Retail Price Index is also being released at this time. The forecast for the (MoM) is 0.2%, while the (YoY) forecast is -1.2%. Germany’s ZEW Economic Sentiment will be published at 9:00 (GMT), possibly affecting the EUR. The forecast is 20. At 12:30 (GMT) Housing Starts may cause the USD to move. The forecast is 520K. Japan will release its Gross Domestic Product Annualized at 23:50. Its forecast is -16.1%.On Wednesday, May 20th, the GBP may be affected by the Bank of England’s Minutes, which are occurring at 8:30 (GMT). The GBP will strengthen if the Bank of England is hawkish about the inflationary outlook for the economy. At 11:00 (GMT), the CAD may move due to the Bank of Canada’s Consumer Price Index Core and Consumer Price Index. High readings of results are seen to have a positive effect on the strength of the CAD. At 14:30 (GMT), the Energy Information Administration will measure the change in crude oil storage. The results for the EIA will have an effect on all currencies, but may have a more significant effect on the CAD. At 18:00 (GMT), the Federal Open Market Committee Meeting Minutes may have an effect on the USD.On Thursday, May 21st, the Purchasing Manager Index Manufacturing occurring at 7:30 (GMT) may have an effect on the EUR. Results above 50 signals are considered to be bullish, while lower results are considered bearish. The United Kingdom is releasing its Retail Sales at 8:30 (GMT). Higher results are seen as positive for the GBP. At 12:30 (GMT), the United States’ Unemployment Claims may have an effect on the currency. The forecast is 633K.On Friday, May 22nd, the Bank of Japan is releasing its Interest Rate Decision at 4:00 (GMT), which will have an effect on where the JPY moves. At 18:00 (GMT), Fed Governor Ben Bernanke is due to give a speech. Volatility is often experienced with the USD during his speeches.We hope you research each of the events listed above and use them to your advantage. As always, Forex Club would like to wish you a healthy week filled with successful trades.