US unemployment claims and Canadian retail sales are the major events this day. Let’s see what awaits us today.
In the US, Unemployment Claims the number of Americans filing their initial unemployment claims increased more than predicted to 428,000 from 417,000 in the preceding week indicating uncertainty in the job market. A drop to 419,000 is predicted now.
Later in the US, CB Leading Index, comprised of 10 economic indicators increased by 0.5% in July, more than the 0.2% gain expected and after rising 0.3% in the previous month. Another rise of 0.2% is expected.
Further in the US, OFHEO HPI measuring the price changes of properties with mortgages increased by 0.9% in June better than the 0.2% rise expected and more than the 0.45 rise in the previous month. No rise is expected now.
More in the US, Natural Gas Storage increased to 87B last week after 64B in the previous one. A further increase to 91B is predicted now.
In Canada, Core Retail Sales excluding the auto industry decreased by 0.1% in June while an increase of 0.3% was predicted and following 0.6% increase in the previous month. A rise of 0.2% is expected now. Meantime, Retail sales increased by 0.7% thank to the auto industry but is expected to drop by 0.2% this time.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, French Flash Manufacturing PMI surveying production managers dropped to 49.3 in August falling below the 50 point line after 50.5 in the previous month. A further drop to 48.6 is expected now. Meantime French Flash Services PMI surveying service sectors managers increased more than predicted in august to 56.8 from 53.2. A decrease to 54.4 is expected now.
More in Europe, German Flash Manufacturing PMI increased to 52.0 in August from 52.0 in July and German Flash Services PMI dropped to 50.4 from 52.9 in the previous month. German manufacturing PMI is expected to reach 50.2 while Germane service PMI is predicted to reach 50.6.
Further in Europe, Flash Manufacturing PMI for the Euro-Zone decreased to 49.7 in august from 50.4 in the previous month while service PMI decreased to 51.6 from 51.6. Manufacturing PMI is expected to drop to 48.6 while Manufacturing PMI to 51.1.
More in Europe, Industrial New Orders decreased by 0.7% in June following 3.6% gain in the previous month. Another drop of 1.1% is expected.
Finally inEurope, Consumer Confidence continues to drop diving to -17 in July after -11 in the previous month. A further plunge to -18 is expected now.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain, CBI Industrial Order Expectations Production managers’ survey reflecting market conditions increased to 1 in August following -10 in July. A drop to -5 is predicted now.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, ZEW Economic Expectations measuring investors confidence dropped sharply to -71.4 in August after -58.9 in July. A further drop is expected now.
Read more about the Swiss franc in the USD/CHF forecast.
Happy forex trading
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