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Great Britain Claimant Count Change and Fed Chairman Bernanke speech are the top of our market moving events. Here is an outlook on the most influential activities awaiting us today.

Federal Reserve (Fed) Chairman Ben Bernanke, due to participate in a panel discussion about business innovation at the Life Sciences Greenhouse, in Pittsburgh. Audience questions expected, controls short term interest rates and used to drop subtle clues regarding future monetary policy.

Later in the US, Federal Budget Balance, the value between the federal government’s income and spending during the previous month, a further drop to -52% is expected now, and indicates a deficit.

Finally in the US, Import Prices, the price of imported goods and services purchased domestically is expected to drop by 7% from the last month and contributes to inflation for businesses and consumers, especially those who rely heavily on imported goods and services.

In Canada, New Housing Price Index (NHPI), the new home’s selling price, is expected remain  -1% as in the previous month, and It’s a leading indicator since rising house prices attract investors and spur industry activity.

For more on USD/CAD, read the  Canadian dollar forecast.

In Europe, Industrial Production, the total inflation-adjusted value of output produced by manufacturers, mines, and utilities; is expected to rise up by 6% from the last month, and production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings.

For more on the Euro, read the  EUR/USD forecast and Casey Stubbs’  latest analysis.

In Great Britain, Claimant Count Change, the number of people claiming unemployment-related benefits during the previous month; It’s the first indication of the employment situation, released a month is expected to rise by 2K from the previous month.   Consumer spending is highly correlated with labor-market conditions;

More in Great Britain, External Bank of England (BOE), Monetary Policy Committee (MPC); Member Andrew Sentence Due to speak at the event organized by RSM Tenon, in London.

Finally in Britain, Average Earnings Index, the price businesses and the government pay for labor, including bonuses; expected to rise up by 0.1%. When businesses pay more for labor the higher costs are usually passed on to the consumer;

Read more about the Pound in the  GBP/USD forecast.

In Switzerland, Producer Price Index (PPI); the price of goods and raw materials purchased by manufacturers is expected to rise by 1% from the previous month. When manufacturers pay more for goods the higher costs are usually passed on to the consumer.

In Australia, Melbourne Institute (MI); Inflation Expectations, Percentage that consumers expect the price of goods and services to change during the next 12 months Expectations of future inflation can manifest into real inflation, primarily because workers tend to push for higher wages when they believe prices will rise.

For more on the Aussie, read the  AUD/USD forecast.

In New Zealand, Retail Sales, the total value of sales at the retail level is about to rise up by 8%. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity. And the Core Retail Sales is expected to rise by 3%.

That’s it for today. Happy forex trading!

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