The calendar is quite busy for a Monday: the first day of February provided many figures from all over the world, with American ISM Manufacturing PMI being the highlight. Let’s see what’s up for today:
Australia starts the day with many figures: the AIG Manufacturing Index is expected to rise while the MI Inflation Gauge is predicted to remain stable. After seeing strong official employment numbers, the ANZ Job Advertisements will supply another look and will move the Aussie.
Australian HPI is predicted to follow last quarter’s rise with another 3.7% jump. Finally, Commodity Prices which have a strong impact on the Australian economy, are expected to show a lower year-over-year drop. For more on the Aussie, read the AUD/USD forecast.
In Switzerland, SVME PMI will move the USD/CHF. The beaten Euro will only receive a minor indicator today: Final Manufacturing PMI.
British Manufacturing PMI is predicted to remain unchanged at 54.1 points. This is an important figure for the Pound. At the same time, Net Lending to Individuals is predicted to rise to 1.2 billion.
For more on GBP/USD, read the British Pound forecast.
In the US, the Core PCE Price Index is predicted to rise by 0.1% after remaining unchanged last month. Personal Spending and Personal Income are both expected to be on the rise – an indication for healthy recovery.
The first major event in the US this week is the ISM Manufacturing PMI which is predicted to rise from 54.9 to 55.5 points. A higher rise will boost the dollar. Note that Treasury Secretary Geithner will be speaking at the same time, so around 15:00 GMT, the markets will rock.
Near the end of the day, New Zealand’s Labor Cost Index is predicted to rise by 0.5%, more than last quarter. This will help keep the kiwi above the ground.
That’s it for today. Happy forex trading!
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