US CB Consumer Confidence is the highlight of today’s events. Let’s review the main market- movers lined up.
In the US, CB Consumer Confidence The Conference Board consumer sentiment decreased in May by 5.2 from the previous month reaching 60.8 indicating a slowdown in consumer spending. The same figure is expected this time.
Later in the US, Richard Fisher President of the Federal Reserve Bank of Dallas is scheduled to speak.
More in the US, S&P/CS Composite-20 HPI House price index of single family homes continued to drop decreased by 3.6% in March from a 3.4 decrease in the previous month. A bigger price drop of 3.9% is predicted amid the demand for foreclosure deals of existing homes.
In Canada, Agathe Cote Deputy Governor of the Bank of Canada will speak in Toronto.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Jean-Claude Trichet president of the European Central Bank will speak about The current state of the European Union in Brussels. His words may affect the currency.
More in Europe, GfK German Consumer Climate gauge of consumer spending dropped by 0.2 points in May to 5.5 following the Greek crisis. A further decrease to 5.4 is expected now.
Also in Europe, German Prelim CPI the first inflation measure in the Euro-Zone was flat in May while 0.1% rise was expected. An increase of 0.1% is predicted now.
Later in Europe, German Import Prices increased by 0.3% in April below the 0.8% expected following 1.1% rise in the previous month. A drop of 0.4% is forecasted.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain, Current Account imports overpowered exports increasing deficit to GBP 10.5 billion in the fourth quarter from GBP 8.7 billion in the previous quarter. Deficit is expected to narrow to GBP 5.0 billion this time.
More in Great Britain, Inflation Report Hearings will be attended by Mervyn Allister King Governor of the bank of England and MPC members may include important info regarding future monetary policy.
Later in Great Britain, Final GDP shrunk by 0.5% in the 4th quarter of 2010 better than the 0.6% decrease predicted. GDP is expected to increase by 0.5% this time.
Also in Great Britain, Revised Business Investment was flat in the 4th quarter of 2010 it is expected to drop by 7.1% in the first quarter.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, UBS Consumption Indicator a consumer centered index decreased by 0.4 points from 1.69 in March to 1.59 in April indicating a slowdown in the Swiss economy.
Read more about the Swiss franc in the USD/CHF forecast.
In Australia, Guy Debelle RBA Assistant Governor is scheduled to speak in Sydney can affect the currency.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Prelim Industrial Production Gauge of economic conditions gained 1.0% in April following 15.5% plunge in the previous month. The reading was below the 2.6% rise forecasted by economists.
Read more about the yen in the USD/JPY forecast.
Happy forex trading
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