U.S. ISM Manufacturing PMI, Europe’s Unemployment Rate and Halifax HPI in Britain are the main events on our menu today. Here are the selected market-moving activities closing another week of trade.
In the US, ISM Manufacturing PMI last reading indicated a better than expected rise to 56.3 points the positive score remaining above the 50.0 line is promising however a small drop to 54.6 points is expected. This will probably have bearing on the Non-Farm Payrolls a week later.
More in the US, Core Personal Consumption Expenditures Price Index the Federal Reserve’s favorite inflation measure, predicted to maintain the same rise of 0.1% as in the previous month and Personal Spending which rose 0.4% in July is predicted a similar growth in August.
Later in the US, Revised UoM Consumer Sentiment based on a survey of about 500 consumers reached a disappointing 68.9 points in the previous month despite forecasts for 69.8. A further drop to 67.1 is anticipated this time.
In Europe, Unemployment Rate remains very stable from the beginning of the year refusing to drop from 10%. It is expected to remain the same in August as well.
More in Europe, German Retail Sales the primary gauge of consumer spending, expected to rise 0.5% following 0.1% dip in the previous month.
In Great Britain, Halifax HPI a leading indicator of the housing industry’s health reported a slight rise of 0.2% despite a negative forecast. A continued rise of 0.6% is expected now although Activity is very slow since the beginning of the year.
More in Great Britain, Manufacturing PMI a leading indicator of economic health released monthly, reported a lower than expected reading of 54.3 in August following 57.3 in July. A further plunge to 53.9 is predicted.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Retail Sales excluding automobiles and gas stations the primary gauge of consumer spending expected a slower rise of 3.2% following a better than anticipated rise of 4.8% in July.
More in Switzerland, SVME Purchasing Managers’ Index a leading indicator of economic health released monthly, dropped to 61.4 points in the previous month. An additional small dip to 61.2 points is forecasted now.
In Australia, Commodity Prices measuring the change in the selling price of exported commodities a leading indicator of the nation’s trade balance, is growing nicely in the last five months reaching 52.7% in August. A similar rise is expected now.
For more on the Aussie, read the AUD/USD forecast.
That’s it for today. Happy forex trading!
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