The forex week starts with a rather relaxed day regarding economic indicators. Existing Home Sales will be the main event today.
Jean-Claude Trichet is in Mexico, and will speak about the financial crisis and commodity prices. Will he have something to say about Ben Bernanke’s huge dollar printing move? Will the ECB act on the Euro?
In Japan, the BSI Manufacturing Index is expected to decline to -47.3, lower than last month’s -44.5.
In Europe, Trade Balance will be published and is expected to show a deficit of 1.9 billion. Note that this is a late figure, after Germany and France already published their figures.
In the US, Existing Home Sales are expected to squeeze down to 4.45M (annually adjusted), after last month’s figure of 4.49M. Last week’s housing data was better than expected, maybe even hitting a bottom, so a better figure won’t be a big surprise.
That’s it for today. Check out the Forex Weekly Outlook for seeing what’s next this week.
And, here’s a great video about the credit crisis. Thanks to Eric deCarbonnel from Market Skeptics for pointing this out.
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
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