The dollar is certainly fighting back after dropping at the beginning of the week. Today’s most interesting figures come from Britain, which sees more range trading. Let’s review the events for today:In Europe, French CPI is the only notable indicator today. EUR/USD is having a hard time holding to the new ground after the break. For more on the Euro, read the EUR/USD forecast.
British Manufacturing Production is expected to rise by 0.3% after being unchanged last month. This release will shake the Pound, that is struggling.
Later in Britain, the NIESR institute will release their monthly GDP estimate. In this release they’ll cover the whole fourth quarter and they’ll give an early unofficial indication if Britain is out of recession. For more on GBP/USD, read the British Pound forecast.
In the US, the Beige Book is expected to bring some choppy trading when it provides an overview of the American economy. Also note the Federal Budget Balance which is expected to show a smaller deficit this month.
Kiwi traders, notice the Building Consents which showed strong growth last month. This figure will probably drop this time.
In Japan, Core Machinery Orders are expected to rise by 0.3% after dropping by 4.5% last month. The Yen is currently on the rise.
That’s it for today. Happy forex trading!
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