Manufacturing Production in UK & Governor Mark Carney speech in Canada are only some of the important events on the upcoming outlook. Let’s see what awaits us today.
In the US, Investor’s Business Daily (IBD) / TechnoMetrica Institute of Policy and Politics (TIPP) Economic Optimism, Monthly Survey of about 900 consumers to rate the relative level of economic conditions, is about to rise to 47.8 and still indicates pessimism and diffusion index based on surveyed consumers
Later in the US, Wholesale Inventories, total value of goods held in inventory by wholesalers is about to droop down by 0.2%. Signal of future business spending because companies are more likely to purchase goods once they have depleted inventories.
In Canada, New Housing Price Index (NHPI), selling price of new homes is about to rise by 0.4%. Monthly leading indicator, since rising house prices attract investors and spur industry activity.
More in Canada, BOC Governor Mark Carney, Due to deliver a speech titled “Looking Back, Moving Forward: Canada and Global Financial Reform” at the International Center for Monetary and Banking Studies, in Geneva. Used to drop subtle clues on future monetary policy.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Final Consumer Price Index (CPI); price of goods and services purchased by consumers is about to by 0.1% like on the previous month. The Preliminary release is the earliest and thus tends to have the most impact.
More in Europe, French Gov Budget Balance, value between the central government’s income and spending for the year-to-date is -122.1B like on the previous month, indicates a deficit.
Finally in Europe, French Trade Balance, value between imported and exported goods during the reported month is about to rise to -3.7 B and still indicates a deficit.
In Great Britain, Manufacturing Production, the total inflation-adjusted value of output produced by manufacturers is 0.3% like on the precious month, Manufacturing makes up around 80% of total Industrial Production and tends to dominate the market impact;.
More in Great Britain, Trade Balance, value between imported and exported goods during the reported month is about to reduce by 0.3 B. and indicated deficit.
Later in Great Britain, British Retail Consortium (BRC) Retail Sales Monitor, the value of same-store sales at the retail level is 0.5% similar to the previous month.
Also in Great Britain, Royal Institution of Chartered Surveyors (RICS) House Price Balance, diffusion index based on surveyed property surveyors is about to rise by 0.3%. A leading indicator of housing inflation since surveyors have access to the most recent price data by virtue of their job.
Finally in Britain, Industrial Production, inflation-adjusted value of output produced by manufacturers, mines, and utilities is about to rise by 0.2%. Mines and utilities make up around 20% of total production.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, State Secretariat for Economic Affairs (SECO) Consumer Climate, Survey, released every 3 months, of about 1,100 households to rate the relative level of past and future economic conditions indicates optimism by rising to 17 points.
In Australia, Home Loans, new loans granted for owner-occupied homes is about to rise by 1%. Excellent gauge of how many qualified buyers are entering the market.
More in Australia, National Australia Bank (NAB); Business Confidence, Monthly Survey of about 350 businesses to rate the relative level of current business conditions is 10 points like on the previous month and indicates improving conditions.
Finally in Australia, Westpac Consumer Sentiment, Monthly Survey of about 1,200 consumers to rate the relative level of past and future economic conditions, employment, and climate for major purchases is 3.3% similar to the previous month.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Reserve Bank of New Zealand (RBNZ) Financial Stability Report provides insights into the bank’s view of inflation, growth, and other economic conditions that will affect interest rates in the future.
In Japan, Economy Watchers Sentiment, Survey of about 2,000 workers to rate the relative level of current economic conditions, is about to rise by 0.5 points but still indicates pessimism with 41.7 points.
More in Japan, new orders placed with machine tool manufacturers, is the earliest release and thus tends to have the most impact. Is 112.9% like on the previous month
That’s it for today. Happy forex trading!Get the 5 most predictable currency pairs