Weekly outlook This week on the Markets In approach to the new trade week, here are the main economic events that will move the markets around the globe 1. U.K. Nationwide Housing data, Mon, 22nd Oct, 06:00 a.m. U.K. home sellers cut asking prices for a third month in September as the property market failed to cope with the “distractions� of the London Olyumpics. Averag asking prices in England and Wales fell 0.6 percent after declining 2.4 percent in August. From a year earlier, values were up 0.7 percent to an average 234,858 pounds. Nationallly eight out of ten regions posted monthly price drops. House prices in London rose 0.3 percent in September from Augusta dn were up 6.6 percent from a year earlier. Nationally prices remained little changed. It is expected that the trend will continue in s low pace of development 2. Canadian Retail Sales, Tue, 23rd Oct, 12:30 p.m. Canadian retail Sales rose faster than economists forecast in July, as the largest increase in new car sales in January lef a broad-based gain. Slaes Climbed 0.7% to C$39 billion, the fastest pace in nine months, according to Statistics Canada in Ottawa. The rise exceeded all earlier economics projections of 0.2 percent median. Bank of Canada Governor Mark Carney is relying on consumption and housing investment for almost three-quarters of the country’s projected 2.1 percent of economic growth this year. It is expected that sales will continue to rise at 0.3 percent level from a month before. 3. Canadian Interest Rate Decision, Tue, 23rd Oct, 1:00 p.m. Canadian interest rate remains unchanges since October 2010 where it rose 0.25 percentage points. This is an important data, so please watch it closely for any changes, as it will affect canadian forex pairs. Many of the economist though do not see that the rate will change until a year later in the fourth quarter where it may possibly rise another 0.25 percentage points 4. Australian Consumer Price Index, Wed, 24th Oct, 12:30 a.m. Australian core consumer prices acelerate last quarter cose to the pace economists forecast, giving the central bank scope to extend a paude in uinterest rate cuts. Consumer Price index increased 0.5 percent in the second quarter from the previous three months, compared with 0.6 percent forecast of advance. Economist now forcase 1 percent rise for the third qiarter and 1.6 percent increased from a year before.Economists also forecast for Australian GDP to be at 3.1 percentage level to the end of the year with CPI rising further to 2.3 percentage point in the fourth quarter 5. Federal Interest Rate decision and monetary policy statement, Wed, 24th Oct, 6:15 p.m. Please watch this data closely as any changes in the rate will draw volatility in USD forex pairs. Current rate remaining at 0.25 percentage point it is likely to remain at this level according to the Henyep forecasts. The board has briefly brought the rate to zero in 2011 once, where it brought it back to the current level soon after, stipulated by the prevailing market and economic conditions. Feds have stated that economic activity has decelerated somewhat over the first hald of the year, with slow growth in employment and business. Since last meeting they have agreed to continue with their program to extend the average maturity of its holdings of securities and to maintain the existing policy of reinvesting the principal payments from its holdings. 6. New Zealand Interest Rate Decision. Wed, 24th Oct, 8:00 p.m. New Zealand signaled an 18-month pause in record-low interest rates may last through mid-2013 to help bolster an economy buffeted by weaker global growth and strained be one the developed world’s strongest currencies. Lat month, so called kiwi advanced 5.6 percent this year against U.S. dollar, making it the strongest performer among the groupd of 10 major currencies. Some of the “high� forecasters are predicting the rate to rise to 2.75 percent by the fourth quarter. To pprovide the stable outlook, Alan Bollard, the Reserve Bank Governor, most likely is going to keep the rate unchanged. There are many factors to that, those include risks from Europe and weak trading partners including China 7. British Gross Domestic Product, Thurs, 25th Oct, 08:30 a.m. Britain probably escaped recession in the third quarter as the economy grew the most in two years in a rebound after one-time disruptions, according to economists’ analysis. Gross domestic product rose 0.6 percent from the oprevious three months, when an extra public holiday led to 0.4 percent drop. The surge still masks underlying weakness in the economy that may still pprompt more stimulus from the Bank of England. Whele policy makers are split on the need for more bond purchases when the current round ends next month, the number have said there is “considerable scope� to add so-called quantitative easing. Expectations are that GDP will stay at the same level from a year ago and rise 0.6 percent from the previous quarter 8. American Durable Goods Orders, Thurs, 25th Oct, 12:30 p.m. Deamand for U.S. durable goods other than transportation equipment unexpectedly dropped in August for a third consecutive month, signalling that slowdowns in business investment and exports will restrain the economic expansion. Orders for goods meant to last at least three years, excluding volatile demand for airplances and automobiles, fell 1.6 percent last data release after decreasing 1.3 percent in July, from figures published by Commemrce Department in Washington. Total bookings plunged 13 percent and demand for aircraft plunged. Many companies are cutting forecasts based on Europe fears. Expectations are for a slight recovery to 7 percent, see the table above. 9. Japanese National Consumer Price Index, Thurs, 25th Oct, 11:30 p.m. Japan’s consumer prices fell 0.3 percent in August from a year earlier, matching the steepest decline in 16 months as the central bank remains distant from a 1 percent inflation target. The decline in prices excluding fresh food, reported by the statistics bureau in Tokio was the same as median extimate. Japan jobless rate decreases to 4.2 percent last two months from 4.3 percent in July, as per data from a separate report. Some economists say that The Bank of Japan’s forecast for CPI in unrealistic. The reported decline compares with the Bank of Japan forecast for 0.2 percent increase in prices in the fiscal year that started in April and a 0.7 percent gain the folloing 12 months. Expectation is that index will fall to -0.4 percent. 10. American Gross Domestic Product Annualized, Fri, 26th Oct, 12:30 p.m. JPMorgan lowered statistical data of GDP projection for U.S. recently. That is adding to the aboму mentioned slump in demand for durable orders, economy grows less in second quarter than expected, reflecting slower gains in consumer spending and farm inventories. Second quarter growth was at the pace on 1.3 percent compared with expected 1.7 percent expectaions. 70 percent on the country’s economy supported by household purchaes, rose 1.5 percent annual pace, that is being the slowest in a year. Consumption being week, drives economy at a sluggish pace. Henyep expectes that supported by the third quarter improvments in employment and gained confidence, GDP will rise to 1.8 percent from a year ago. This is all for this week. Stay with us for more updates to follow during the trading week

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