Federal Reserve Bank of New York President William Dudley speaks in Sarasota, other great news from Canada with Core CPI and Core Retail Sales expected to rise and additional encouraging forecasts from other countries are on today’s menu.
In the US, Federal Reserve Bank of New York President William Dudley delivers a speech at the New College of Florida, in Sarasota which could affect interest rates and give insight to future monetary policy.
In Canada, Core CPI is expected to edge up to 0.3% after the decrease of -0.2% in April CPI index is also heading for an increase of 0.3% from 0.0% in April, causing inflation which will also affect interest rates.
More in Canada, Core Retail Sales are expected to climb to 0.5% after the drop of -0.1% in April indicating healthy market activity while Retail Sales are likely to drop by 0.3% compared to 0.5% in April due to the Automobile sales which tend to be volatile.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Ifo Business Climate is expected to continue its rise from previous months heading for 101.9 Points after 101.6 points in April, indicates optimism among German businesses.
Also in Europe, German Flash Manufacturing PMI and German Flash Services PMI are also on the rise; Manufacturing PMI by 0.1 points after 61.5 in April and Services PMI by 0.4 points following 55.2 in April.
Later in Europe, French Flash Manufacturing PMI is expected to reach 56.8 after 56.6 in April while French Flash Services PMI Is expected to drop by 0.2 points from 59.2 in April.
More in Europe, Flash Manufacturing PMI is expected to rise by 0.1 points from 57.6 in April while Flash Services PMI is expected to drop by 0.1 points following April’s 55.6 points
Finally in Europe, Europe’s Current Account is narrowing the trade balance deficit by 0.1B from -3.9B in April.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Public Sector Net Borrowing is foreseen a reduction of 12.3B in the spending deficit of public corporations, central government, and local governments after April’s rising deficit of 23.5B. This may signal a positive shift in U.K.’s economy.
More in Great Britain, Prelim Business Investment released quarterly is expected to rise from -4.3% to -0.5% which is an encouraging peace of news.
Later in Great Britain, Prelim Mortgage Approvals are also expected to climb from 49K to 54K indicating high demand in the housing market.
Finally in Britain, Prelim M4 Money Supply measuring the change in the total quantity of domestic currency in circulation and deposited in banks is likely to increase by 0.1% from 0.2% in April.
Read more about the Pound in the GBP/USD forecast.
That’s it for today. Happy forex trading!
Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.
Share
