TIC Long-Term Purchases in the US, CPI & BOE Inflation Letter in the UK are some of the exciting events that awaits today.
In the US, Producer Price Index (PPI), price of finished goods and services sold by producers is about to rise by 0.3% and the Core PPI (excluding food and energy) is about to rise by 0.1%. Leading indicator of consumer inflation.
Later in the US, TIC Long-Term Purchases, value between foreign long-term securities purchased by US citizens and by foreigners during the last month is about to reduces by 28.4 B. foreigners must buy the domestic currency to purchase the nation’s securities.
More in the US, Industrial Production value of output produced by manufacturers, mines, and utilities is about to rise by 0.6% and impact on consumer conditions such as employment levels and earnings.
Finally in the US, Capacity Utilization Rate, available resources being utilized by manufacturers, mines, and utilities is about to rise by 0.2%. Leading indicator of consumer inflation.
In Canada, Manufacturing Sales made by manufacturers is about to reduce by 2.3%, it affected by market conditions, and changes in their sales can be an early signal of future activity such as spending, hiring, and investment.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German ZEW Economic Sentiment, montly Survey of about 350 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Germany indicates pessimism with -5.3 points.
Also in Europe, Consumer Price Index (CPI), price of goods and services purchased by consumers; is 1.9% similar to the previous month, and the Core CPI (excluding food, energy, alcohol, and tobacco) is 1.0% like on the previous month.
More in Europe, Zentrum fur Europaische Wirtschaftsforschung (ZEW), Monthly Survey of about 350 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for the Eurozone indicates optimism with 2.3 points.
Finally in Europe, employed people, excluding the farming industry and government is about to rise by 0.3%. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Consumer Price Index (CPI); price of goods and services purchased by consumers is 3.1% and the Core CPI (excluding the volatile food, energy, alcohol, and tobacco items) is 2.7% – both similar to the previous month and account for a majority of overall inflation.
Aldo in Great Britain, Retail Price Index (RPI), price of goods and services purchased by consumers for the purpose of consumption is about to reduce by 0.1%. differs from CPI, it measures goods and services bought for the purpose of consumption, and it includes housing costs which are excluded from CPI.
More in Great Britain, Bank of England (BOE), Consumer Price Index (CPI); It gives insight into the future of monetary policy – when CPI y/y moves more than 1% from the mandated target rate of 2%, the BOE Governor is required to write an open letter to the chancellor of the exchequer explaining what is being done to address the situation.
Finally in Great Britain, Department for Communities and Local Government (DCLG) House Price Index (HPI), selling price of homes is about to rise by 0.6%.
Read more about the Pound in the GBP/USD forecast.
In Australia, MI Leading Index, This index is designed to predict the direction of the economy and it is about to be -0.1% similar to the previous month.
Later in Australia, Wage Price Index, price businesses and the government pay for labor, excluding bonuses is about to rise by 4%. Businesses pay more for labor the higher costs are usually passed on to the consumer.
For more on the Aussie, read the AUD/USD forecast.
That’s it for today. Happy forex trading!
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