We are expected to see US CPI almost unchanged, another decrease in Unemployment Claims and a growing U.S. current account deficit among other events. Let’s review today’s events:
In the US, Core Consumer Price Index is expected a slight rise of 0.1% following 0.0% in May and CPI which also includes volatile factors is expected to drop to -0.2% from -0.1% indicating low inflation rates in the US market.
Later in the US, Unemployment Claims are predicted to drop this week by 2,000 claims following last weeks unexpected rise of 456K.
More in the US, Current account deficit is foreseen to widen by $4B compared to the previous quarter.
Finally in the US, Philadelphia Fed Manufacturing Index expected to go down by 0.3 points from 21.4 in May
In Canada, Wholesale Sales expected to drop by 1.0% reaching 0.4%
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, ECB Monthly Bulletin is issued. It reveals the statistical data that the ECB Governing Board evaluated when making the latest interest rate decision, and provides detailed analysis of current and future economic conditions from the bank’s viewpoint.
More in Europe, Deutsche Bundesbank President Axel Weber speaks at the Financial Times Deutschland Banking Conference, in Frankfurt whoch may affect interest rates and provide valuable information regarding future monetary policy.
In Switzerland, London interest rate for 3-month Swiss franc deposits is expected to remain unchanged reaching 0.25%.
More in Switzerland, Swiss National Bank issues Monetary Policy Assessment, a Financial Stability Report, and holds a Press Conference which are important to investors seeking information about interest rates and monetary policy.
Finally in Switzerland, Industrial Production is expected to plunge this quarter to -6.3% following the impressive rise of 9.4% from the previous quarter.
In Great Britain, Retail Sales anticipated to decrease sales volume from 0.3% in May to 0.1%.
More in Great Britain, CBI Industrial Order Expectations expected to rise by 3 points reaching -15 which is a further improvement from the previous month
Read more about the Pound in the GBP/USD forecast.
In Japan, Monetary Policy Meeting Minutes is released with a detailed record of the BOJ Policy Board’s meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.
That’s it for today. Happy forex trading!
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