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The peak of the day is the  ADP Non-Farm Employment Change in the USA, building up expectations for the Non Farm PAyrolls on Friday.

Important economic data begins early on Wednesday: In Austtralia, the monthly Retail Sales Trend is expected to show stability, at 0.1%. Also the  HIA New Home Sales is a good indicator of the Australian economy and is published by the  Housing Industry Association.

Later in the day, another speech is expected by  ECB President Trichet. Jean Claude Trichet might shake the Euro, which has been dropping this week.

Also from Europe: the  German Unemployment Change, a very important figure, especially in an election year in Germany. This figure is in the center of every elections, and is important for the Euro.

At 13:15 GMT, the  Automatic Data Processing will publish the  ADP Non-Farm Employment Change – although this figure is quite volatile, forex traders will closely watch it before the Non Farm Payrolls on Friday.

And, to close the day, the  Crude Oil Inventories in the US could move oil prices. Oil prices have risen to around $50 a barrel following the Gaza war that is looming over the middle east. Note the strength of the AUD and CAD following the high oil prices.