In the US, Producer Price Index (PPI), important consumer inflation sign that value the producer’s goods and services prices, about to reduce from 0.8% on October down to -0.1%, and the Core PPI (not including energy and food) is due to decrease from  0.2% down to 0.1%.

In the US, Building Permit, main measurement to value the ת Annualized number of new residential construction permits that were issued on the previous month, 0.61M is predicted, similar to 0.62M on the last month,

In the US, Retail Sales, total value of sales at the retail level is about to reduce by 0.1%, while the Core Retail Sales is about to rise by 0.1%. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

The resignation of Axel Weber from the ECB is a loss for the Euro as well, as the Bundesbank’s president is a known “hawk”. Apart from the indicators, note headlines from Ireland, Greece and Portugal – the debt crisis is still with us.

 In the US, Prelim University of Michigan (UoM) Consumer Sentiment, the earlier the most impact composite index based on surveyed consumers is about to rise by 1.5 points. Monthly Survey of about 500 consumers to rate the relative level of current and future economic conditions.

In the US, Consumer Price Index, the main measure of inflation and U.S. Retail Sales, an important measure of consumer spending expected to increase by 0.2% from a reading of -0.1% in the previous month. The U.S. retail sales are also forecasted to pick up by 0.5% m/m in July from -0.5% in June.

EUR/USD chart with support and resistance lines marked. Click to enlarge:

In the US, Trade Balance is expected to increase trade deficit by $200,000,000 from 39.7B in the previous month indicating a rebound in economic growth.

European GDP figures were very disappointing. Germany’s economy didn’t grow in Q4. This followed weak growth in Q3. According to the initial release, the German economy stalled. This fell short of early expectations for 0.2% growth. There’s a chance that in the final release this figure will be revised to the downside. Fears for a new recession in Europe’s largest country and the economic driver are very bad for the Euro.

European figures