Today, American figures dominate the scene, with Durable Goods Orders and New Home Sales. Also not the German Ifo Business Climate among other figures. Let’s see what’s expecting us today:
Australian Construction Work Done starts the day. After falling by 3.7% last time, it’s predicted to drop again, this quarter by 2.7%.
For more on the Aussie, check out the AUD/USD Outlook.
After Germany’s GDP was confirmed at a growth of 0.3%, there are two more indicators from Germany today: German Import Prices are expected to show more deflation, and to fall by 0.9%.
Later, German Ifo Business Climate is expected to continue rising, from 87.3 to 89.1 points. This is the most important European figure this week, and it will shake EUR/USD.
For more on the Euro, read the EUR/USD Outlook.
American Durable Goods Orders took a dive last month, and fell by 2.5%. This time, they’re expected to leap back with a rise of 3.3%. Core Durable Goods Orders are predicted to rise by 1.1%, exactly like last month.
An hour and a half later, another major indicator is released in the US: New Home Sales are expected to follow the path of Existing Home Sales, and to rise nicely as well: from 384K to 393K.
After the recent rise in oil prices, and the latest drop of 8.4 million barrels last week, the Crude Oil Inventories release will probably shake the stock markets and also the greenback.
In Canada, the quarterly figure of Corporate Profits will impact the USD/CAD. Last time it fell be 11.8%. It should bounce back this time. For more on the loonie, read the Canadian Dollar Outlook.
In the evening, FOMC Member Dennis Lockhart will speak about the US economic outlook. Will he release some less cautious words than Ben Bernanke?
Near the end of the day, New Zealand’s Trade Balance is predicted to show a squeeze in the deficit: from 417 million to 139 million.
That’s it for today. Happy forex trading!