MBA Mortgage Applications in the US and International Merchandise Trade in Canada are the main events today. Here is an outlook on the market-movers awaiting us
In the US, MBA Mortgage Applications, weekly index measures home loan demand a leading indicator of home sales. 4% is expected similar to the previous month.
Later in the US, Trade Balance, measuring the difference between the value of import and export. A positive figure indicated a trade surplus while a negative one shows a trade deficit. Reduce of 1.24 Billion is expected now.
More in the US, EAI Crude Oil Stocks Change (Energy Information Administration), inventories and indicator of oil demand and rates is expected to remain 3.4 Million.
In Canada, International Merchandise Trade, measuring the difference in Canadian goods imports and exports of not including services. Rise of 0.47 Billion is expected now.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, CPI (Consumer price index) measures the cost of living by comparing basket of goods and services including volatile components, is likely to reduce by 0.2% on the Monthly report and rise by 0.3% in the yearly.
For more on the Euro, read the EUR/USD forecast.
In Great Britain, Trade Balance, measuring the difference between the value of import and export. A positive figure indicated a trade surplus while a negative one shows a trade deficit. Rise of 0.651 Billion is expected now.
More in Great Britain, The BoE Chairman Mervyn King is about to deliver a speech.
Also in Great Britain, BOE Inflation Report, quarterly report that measures the inflation forecasts upon Bank’s Monetary Policy Committee interest rate decisions.
Read more about the Pound in the GBP/USD forecast.
In Japan, Leading Economic Index, based on 12 leading indicators aimed to predict economic conditions for the next 6-9 months, is expected positive growth with 99.8 points.
More in Japan, Current Account, net flow of current businesses, services, goods and interest costs in Japan reduction of 400.2 Billion is expected now.
Finally in Japan, Trade Balance, measuring the difference between the value of import and export. A positive figure indicated a trade surplus. 305 billion is now expected.
That’s it for today. Happy forex trading!
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