Australian rate decision is the major event on our calenday. Here Is an outlook on today’s market moving events.
In Europe, German Factory Orders a leading indicator of production released monthly has registered 3.2% rise in June. A smaller rise of 0.6% is expected in July.
In Great Britain, Halifax HPI a leading indicator of the housing industry’s health experienced a promising 0.6% rise in July however a drop of 0.3% is expected in August.
More in Great Britain, BRC Shop Price Index released monthly leads the government-released consumer inflation data by about 10 days increased by 1.5% in July. A similar rise is expected now.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Unemployment Rate released monthle measuring the percentage of the total work force that is unemployed and actively seeking employment during the previous month expected to rise by 3.7% following 3.8% in July.
In Australia, The Reserve Bank of Australia will very likely leave the cash rate unchanged at 4.5% for a 4th month. Domestic developments have been the most enviable among advanced economies but policymakers will stay neutral regarding monetary policies.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Manufacturing Sales released quarterly has increased by 0.9% in the previous quarter a similar rise is expected now.
In Japan, Core Machinery Orders a leading indicator of production released monthly expected to rise 2.0% 0.4% more than in the previous month.
More in Japan, Bank Lending measuring change in the total value of outstanding bank loans issued to consumers and businesses experienced its biggest fall in 5 years dropping 2.0% in May and June another drop of 1.8% occurred in July. A smaller drop is expected now.
Leading Indicators released monthly released monthly and designed to predict the direction of the economy forecasted to reach 98.3% 0.7% less than in June.
Finally in Japan, Current Account surplus released monthly is expected to rise by 0.02T compared with the previous month reaching 1.38T which is good for the currency and M2 Money Stock measuring change in the total quantity of domestic currency in circulation and deposited in banks is predicted 2.6% rise following 2.7% in July.
That’s it for today. Happy forex trading!
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