Unemployment Claims in the US, Retail Sales in the UK and much more. Let’s see what awaits us today.
In the US, Unemployment Claims, individuals who filed for unemployment insurance for the first time during the past week is about to rise by 3K. Signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
Later in the US, Durable Goods Orders, new purchase orders placed with manufacturers for durable goods, excluding transportation items; is about to rise by 4.4% and the Core Durable Goods Orders (excluding transportation items) is about to rise by 5.1%. Rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.
Finally in the US, Natural Gas Storage held in underground storage during the past week; is about to rise by 45B. While this is a US indicator, it most affects the loonie due to Canada’s sizable energy sector.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Flash Services Purchasing Managers’ Index (PMI), Survey of about 400-600 purchasing managers to rate the relative level of business conditions, is the due to be 56.4 points, the German Flash Services PMI is due to be 58.5 points and the French Flash Services PMI is due to be 59.6 points.
Also in Europe, Flash Manufacturing Purchasing Managers’ Index (PMI), Survey of about 600 purchasing managers to rate the relative level of business conditions, indicates industry expansion with 58.3 points, German Flash Manufacturing PMI with 62.1 points and French Flash Manufacturing PMI with 56.1 points.
Finally in Europe, European Union (EU) Economic Summit Heads of state from European Union countries are due to meet about Bank stress tests, the European Financial Stability Facility fund, Ireland crisis, and other economic issues, in Brussels.
For more on the Euro, read the EUR/USD forecast
In Great Britain, Retail Sales, value of inflation-adjusted sales at the retail level; is about to reduce by 1.4%.
More in Great Britain, BOE Chief Economist Spencer Dale, due to speak at the National Asset Liability Management Global Conference, in London.
Later in Great Britain,
Finally in Britain,
Read more about the Pound in the GBP/USD forecast.
In Switzerland, SNB Governing Board Member Jean-Pierre Danthine, due to speak at the Money Market event, in Zurich.
In Australia, Reserve Bank of Australia (RBA) Assistant Governor (Economics) Dr. Malcolm Edey Due to speak at the Basel III Conference, in Sydney.
Reserve Bank of Australia (RBA) Financial Stability Review, It’s an assessment of conditions in the financial system and potential risks to financial stability – the evidence on strains and imbalances can provide insight into the future of monetary policy. Source first released in Mar 2004.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Visitor Arrivals, number of short-term overseas visitors who arrived in the country; is due to be 2%. Tourism plays an important role in the economy – about 10% of the population is employed by the tourism industry, and a sizable portion of the nation’s GDP is indirectly related to tourism.
In Japan, Trade Balance, is about to rise by 0.49T Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers.
That’s it for today. Happy forex trading!