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Canadian Employment data and the G7 meeting are the major events this day. Here is an outlook on the market-movers awaiting us.

In the US, Wholesale Inventories. The value of merchandise inventory increased less than predicted in June rising 0.6% after an increase of 1.7% in the previous month. A rise of 0.8% is expected now.

The G7 meetings will take place on September 9-10,2011 inMarseille. Attended by finance ministers and central bank governors. The meetings will focus on currency issues and may have major affect on the markets.

In Canada, Employment change. Canadian job market expanded by 7,100 jobs in July, following a gain of28,400 inthe previous month. This figure was less than the 17,700 predicted. A rise of 23,400 is predicted.

Later in Canada, Unemployment Rate dropped unexpectedly to 7.2% in July from 7.4% in June, however it is expected to climb to 7.3% this time.

More in Canada, Housing Starts for residential construction expanded above expectations in July rising by 205,000 from201,000 inthe previous month. An increase of 200,000 is forecasted now.

Finally inCanada, Labor Productivity increased in the forest quarter by 0.4% following 0.3% rise in the previous quarter. Both production and working hours increased. A smaller gain of 0.2% is predicted now.

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

In Europe, French Industrial Production decreased by 1.6% in June worse than the 0.1% drop predicted and following 1.9% slide in the previous month. An increase of 0.4% is forecasted now.

More inEurope, German Final CPI increased by 0.4% in July in line with predictions. A drop of 0.1% is predicted now.

Also in  Europe, German Wholesale Price Index the inflation gauge of manufacturing goods dropped 0.6% in July more than the 0.3% decrease forecasted and after 0.6% drop in the previous month. An increase of 0.3% is predicted now.

Later in Europe, French Gov Budget Balance deficit narrowed in June to -61.3B from -68.4B in May. A similar figure is expected this time.

For more on the Euro, read the  Euro to dollar forecast.

InGreat Britain, Producer price index measuring the cost of raw materials for manufacturers increased by 0.6% in July after 0.2% rise in June. A drop of 1.6% is predicted now. Meantime price of finished goods sold by companies increased by 0.2% in line with predictions and is expected to continue with the same gain.

More in Great Britain, CB Leading Index  remained flat in June after rising 0.6% in the previous month. A small increase is expected now.

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

In Japan, Household confidence increase less than anticipated reaching37.0 inJuly after35.3 inthe previous month. A climb to 41.3 is predicted now indicating continuous recovery in the Japanese market.

Read more about the yen in the USD/JPY forecast.

Happy forex trading

 

 

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