We start the week with some interesting updates from New Zealand Retail Sales, in UK (RICS) House Price Balance & Nationwide Consumer Confidence Survey and much more, Let’s see what awaits us today.
In New Zealand Retail Sales, Monthly data that measurers the total value of sales at the retail level, excluding automobiles, decreased by 0.9% Automobile sales account for about 20% of Retail Sales.
While the Core Retail Sales decreased by 0.4%, and it’s thought to be a better gauge of spending trends.
In the US, Federal Budget Balance, Difference in value between the federal government’s income and spending during the previous month; decreased by 56B hence indicates a deficit.
For more on USD/CAD, read the Canadian dollar forecast.
In Great Britain, Royal Institution of Chartered Surveyors (RICS) House Price Balance It’s a leading indicator of housing inflation because surveyors have access to the most recent price data by virtue of their job. It has increased to -11% hence still indicates more surveyors reported a fall in prices.
More in Great Britain, Nationwide Consumer Confidence, monthly Survey of about 1,000 consumers which asks respondents to rate the relative level of current and future economic conditions, increased to 59 points and Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity
Read more about the Pound in the GBP/USD forecast.
In Switzerland, PPI monthly report that measurers the change in the price of goods and raw materials purchased by manufacturers has raised up by 0.8%. It’s a leading indicator of consumer inflation – when manufacturers pay more for goods the higher costs are usually passed on to the consumer
In New Zealand, Food Price Index (FPI), The change in the price of food and food services purchased by households stabilized on 1.6%, and Although food is among the most volatile consumer price components, this indicator garners some attention because New Zealand’s major inflation data is released on a quarterly basis.
That’s it for today. Happy forex trading!
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