Trade Balance in the US and HPI in Canada are the major market-movers. Let see what awaits us today.
In the US, Trade Balance, measuring the difference between the value of import and export. Trade deficit reached -48.18 Billion US dollar in March and it is expected to widen to -48.90 billion US dollar.
Later in the US, Initial Unemployment Claims, a weekly report measuring the number of Americans filing new Unemployment Claims indicating the overall job market condition, 419K is forecasted, while the Counting Unemployment Claims, unemployed that are currently receiving unemployment welfares and is expected to be 3.700 million.
More in the US, Wholesale Sales Inventories can affect the total inventory profile which can influence the GDP prediction. 1% is forecasted now.
Finally in the US, Charles I. Plosser, President and Chief Executive Officer is about to deliver a speech.
In Canada, International Merchandise Trade, measuring the difference in Canadian goods imports and exports excluding services increased to 0.63 billion in March a small drop to 0.50 billion is expected now.
More in Canada, Now House Price Index (HPI), measuring process of residential housing in Canada indicating trends in prices and mortgages, 0.1% is predicted now.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, ECB Interest Rate diction announced by the European Central Bank, it affects the exchange rate remain 1.25% and it’s expected to continue this time.
More in Europe, ECB Press Conference, Subsequent the ECB’s rate decision, Jean Claude Trichet gives a press conference concerning monetary policy. It can affect the volatility of EUR and decide a short-term positive or negative trend.
For more on the Euro, read the EUR/USD forecast.
In Great Britain, Trade Balance, measuring the difference between the value of goods import and export showed a trade deficit of £ 4.479 in March, it is expected to decrease to £-4.350. While in Goods Trade Balance March’ deficit was £ 7.660 we expect smaller deficit of £-7.549.
More in Great Britain, BoE Interest Rate Decision announced by the Bank of England., it affects the exchange rate was unchanged in May and it’s about to remain 5%.
Read more about the Pound in the GBP/USD forecast.
In Japan, Consumer Confidence a leading indicator of economic health measuring the level of consumer confidence in economic activity decrease to 33.1 in April but is expected to rise to 34.5.
That’s it for today. Happy forex trading!
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