US Core Retail Sales, Retail Sales and Preliminary UoM Consumer Sentiment are the main events today. Let’s see what’s on the menu at present:
In the US, Core Retail Sales and Retail Sales are expected to show a decline in the US economy; Core Retail Sales, from 4.0% to 1.0% and Retail Sales, from 0.4% to 0.2%.
Later in the US, Preliminary UoM Consumer Sentiment is climbing up again to 74.7 points which is 1.1 points higher than the previous month. This continuous rise will have a positive effect on the market. More from UoM , The Preliminary UoM Inflation Expectations is likely to remain around 3.2%.
More in the US, Business Inventories released monthly, measuring the change in the total value of goods held in inventory by manufacturers, wholesalers, and retailers is expected to rise by 0.2% reaching 0.6%.
In Canada, Capacity Utilization Rate is expected to continue its rise reaching 73.4% which may indicate rising inflation rates.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Wholesale Price Index is predicted to drop from 1.7% to 0.3% although forecast in previous months also tended to be lower than the actual result.
Also in Europe, French CPI is foreseen a decrease 0.1% from 0.3% in May.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Manufacturing Production is expected to decrease by 1.7% from 2.3% in May indicating lower inflation rates.
More in Great Britain, Producer Price Index Input is foreseen to plunge from 0.6% to -0.9% as well as UK PPI Output suspected to decrease by 0.8% from 1.4% in May.
Finally in Britain, Consumer Inflation Expectation will probably remain unchanged reaching 2.5% and Industrial Production is intended to rise by 0.3% to attain 0.5%.
Read more about the Pound in the GBP/USD forecast.
That’s it for today. Happy forex trading!
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