Important events await us today with US Retail Sales and TIC Long-Term Purchases, German and Euro-Zone ZEW Economic Sentiment and many more .Let’s see what awaits us today.
In the US, Retail Sales, total value of sales at the retail level is about to reduce by 0.1%, while the Core Retail Sales is about to rise by 0.1%. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
Later in the US, TIC Long-Term Purchases, Difference in value between foreign long-term securities purchased by US citizens and US long-term securities purchased by foreigners during the reported period; is about to rise by 6.28B.
Later in the US, Empire State Manufacturing Index, Survey of about 200 manufacturers in New York state to rate the relative level of general business conditions; indicates improving conditions with 14.4 points.
More in the Us, Import Prices, price of imported goods and services purchased domestically is about to reduce by 0.2%.
Finally in the US, Business Inventories, total value of goods held in inventory by manufacturers, wholesalers, and retailers; signal of future business spending and about to rise by 0.5%.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Zentrum fur Europaische Wirtschaftsforschung (ZEW) Economic Sentiment, Survey of about 350 German institutional investors and analysts to rate the relative 6-month economic outlook for Germany, Indicates optimism with 20.2 points, and the ZEW Economic Sentiment indicates optimism with 31.3 points.
Also in Europe, German Prelim Gross Domestic Product (GDP), goods and services produced by the economy, is about to reduce by 0.2%.
Later in Europe, ECOFIN Meetings, ECOFIN is the Eurozone’s broadest financial decision making body. The council coordinates economic policies of the 27 member states, and their decisions can have a widespread effect on the Eurozone’s economic health.
Finally in Europe, Flash Gross Domestic Product (GDP), the broadest measure of economic activity and the primary gauge of the economy’s health and about to rise by 0.1%.
For more on the Euro, read the EUR/USD forecast.
In Great Britain, CPI inflation indicator gained 3.7% in December a better than the 3.3% expected rise. Meanwhile the Retail Price Index for household consumption surged 4.8% in line with expectations. CPI is predicted to climb further by 4.0% while RPI is predicted to rise by 5.1% this time.
Finally in Great Britain, Nationwide Consumer Confidence a leading indicator of consumer spending climbed better than expected to 53 from 45 in November. Analysts predicted a rise to 47. This index is expected to reach 49 this time.
Read more about the Pound in the GBP/USD forecast.
In Australia, MI Leading Index a combined reading of 9 economic indicators was flat in November. A small rise is expected this time.
More in Australia, New Motor Vehicle Sales gained 0.8% in December following 0.5% rise in November. A similar rise is expected now.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Overnight Call Rate is expected to remain very low at 0.1% accompanied by BOJ Monetary Policy Statement and BOJ Press Conference two important events which have can highly affect the Yen.
More in Japan, Tertiary Industry Activity measuring change in the total value of services purchased by businesses rose 0.6% in December in line with expectations. A drop of 0.5% is expected now.
That’s it for today. Happy forex trading!