US Philadelphia Fed Manufacturing Index , House Price Index and Unemployment Claims are the major market-movers. Let see what awaits us today.
In the US, Philadelphia Fed Manufacturing Index based on a survey of manufacturers regarding trends in their business activities and growth a major indicator of business conditions expanded to 43.4 in March following 35.9 in February. A decline to 36.5 is expected now.
More in the US, House Price Index, measuring process of residential housing in the US indicating trends in prices and mortgages decreased by 0.3% in January following a drop of 0.1% in the prior month. Another drop of 0.2% is predicted now.
Further in the US, Unemployment Claims a weekly report measuring the number of Americans filing new Unemployment Claims indicating the overall job market condition increased to 412,000 from 385,000 in the previous week more than the 379,000 predicted by analysts. A decrease to 390,000 is forecasted.
Finally in the US, Leading Indicators, a composite index aimed to predict future trends in the US economy gained 0.8% in February following 0.1% increase in the prior month a bit below forecasts of 0.9% increase. A smaller climb of 0.2% is expected.
In Canada, Retail Sales, A major indicator of consumer spending remained flat in January after 0.6% increase in the month before while 0.8% gain was forecasted. This time a climb of 0.5% is expected.
For more on USD/CAD, read the Canadian dollar forecast.
In Great Britain, Public Sector Net Borrowing, In the U.K., Measuring the change between spending and revenue received by the government indicating UK’s economy condition reached a deficit of £10.28B in February from a surplus of £6,305B in the previous month. This figure was worse than the £5,700B expected. Deficit is expected to widen to £18,700B this time.
More in Great Britain, Mortgage Approvals, a leading gauge of UK Housing Market affecting overall economy condition increased in February to 46,967 from 46,152 in the prior month above 46,500 forecasted. A similar figure is expected now.
Finally in Great Britain, Retail Sales, A major indicator of consumer spending dropped 0.3% in January after 0.2% decrease in the month before while Core Retail Sales excluding the volatile Automobile transactions remained flat in January following 0.6% gain in the previous month. Both ratail Sales and Core Ratail sales are expected to climb 0.5%.
Read more about the Pound in the GBP/USD forecast.
In Australia, Producer Price Index issued by the Australian Bureau of Statistics measures changes in prices of finished products a good indicator of consumer inflation gained 0.1% in the 4th quarter of 2010 below the 0.5% increase predicted and below the 1.3% climb in the previous quarter. On a yearly bases, PPI rise 2.7% in the 4th quarter vs. 2.2% in the 3rd. A further increase is expected in both events.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Credit Card Spending, measuring credit card expenditure indicating economic strength and confidence gained 5.3% in February vs. 5.5% in the prior month. A similar increase is predicted now.
In Japan, Coincident Index , based on several indicators measuring present economic conditions climbed to 106.3 in February from 105.9 in January. A drop is expected.
More in Japan , Leading Economic Index, based on 12 leading indicators aimed to predict economic conditions for the next 6-9 months increased to 104.2 in February following 101.5 in January. A drop is expected now.
That’s it for today. Happy forex trading!
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