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Forex trading warms up on Tuesday, after a slow start. The US dollar began with a rise. Today’s big figures are Australia’s  Monetary Policy Meeting Minutes, British CPI, German  ZEW Economic Sentiment and American  TIC Long-Term Purchases.  

Australian  Monetary Policy Meeting Minutes released in the wake of the day, sent AUD/USD down. The RBA said that the stimulus plan and rate cuts are going to stoke the economy. In further remarks, RBA’s Glenn Stevens hinted that interest will be cut again. AUD/USD currently doesn’t go long, but goes down, and trades at 0.6427.

Swiss Retail Sales are expected to rise by 2% after falling last month. This could indicate optimism, at least until data is published.

In Britain, CPI is expected to rise by 2.6% on a yearly basis, less than the last figure of 3.1%. Also Core CPI is expected to rise – by 1%. Also in Britain,  DCLG HPI and  Retail Price Index (RPI).

In Europe, the scene will be dominated by the  German ZEW Economic Sentiment, which is expected to fall by 27.5 points, somewhat better than last month’s drop of 31 points. Europe’s biggest economy is struggling in an election year, and this figure is a good indication for the whole continent.  

In the US,  Empire State Manufacturing Index is predicted to fall by 23 points, showing another month of worsening conditions.

And later in the US, the big release of the  TIC Long-Term Purchases is expected to rise by $20 billion. This figure shows the money flow, and could set the direction of the dollar in the following days.  

To close the day,  BoE MPC Member Timothy Besley will speak  at the  London School of Economics, and could indicate if the BoE will continue to lower interest rates in Britain, or take a break.

That’s it. Happy Forex Trading!