The dollar weakness continued during the Asian session and sent EUR/USD, GBP/USD and NZD/USD to new highs. USD/JPY is at new lows. Will the greenback close the week so low? Prelim UoM Consumer Sentiment and other indicators will move the markets today. Let’s see what’s up for the last day of the week.
German WPI (Wholesale Price Index) surprised with a surge in prices – a 0.7% instead of 0.3%. Together with rising CPI, could Germany start to get out of deflation?
In Britain, PPI Input will show the current inflation situation. It’s expected to rise by 0.9% after dropping by 1.4% last time. After I wrote yesterday that the Pound is still behind, it did manage to ride the dollar’s weakness and clim above 1.6660, reaching 1.6740.
In Canada, NHPI (New House Price Index) is expected to fall by 0.1%, similar to last month’s 0.2% drop. USD/CAD is close to the important 1.08 line.
In the US, Import Prices are expected to rise by 1% after falling last time. Later, Prelim UoM Consumer Sentiment is expected to rise back to 67.2 from 65.7, showing that American consumers feel better.
Very late in the afternoon, the Federal Budget Balance is released. The deficit in the budget is expected to decline from 180 to 155 billion.
That’s it for today and for this week. Happy forex trading!
Share
