Prelim UoM Consumer Sentiment in the US & Governor Sarah Bloom Raskin speech in Boston are the main events. Let’s see what awaits us today.
In the US, Prelim University of Michigan (UoM) Consumer Sentiment, the earlier the most impact composite index based on surveyed consumers is about to rise by 1.5 points. Monthly Survey of about 500 consumers to rate the relative level of current and future economic conditions.
Later in the US, Prelim University of Michigan (UoM) Inflation Expectations, percentage that consumers expect the price of goods and services to change during the next 12 months is 2.7% like on the previous month. Survey of about 500 consumers to determine where they expect prices to be 12 months in the future.
More in the US, Federal Reserve Governor Sarah Bloom Raskin, due to deliver a speech titled “Mortgage Servicing Issues” at the National Consumer Law Center Consumer Rights Litigation Conference, in Boston. Used to drop subtle clues on future monetary policy.
Finally in the US, Federal Reserve Governor Daniel Tarullo, due to deliver a speech titled “Next Steps in Financial Regulatory Reform” at the George Washington University School for Law, Economics, and Finance Conference on the Dodd-Frank Act, in Washington DC. Used to drop subtle clues on future monetary policy.
In Europe, Gross Domestic Product (GDP), the inflation-adjusted value of all goods and services produced by the economy and the broadest measure of economic activity and the primary gauge of the economy’s health; German Prelim GDP is about to reduce by 1.4%, the Flash GDP moderate impact because Germany and France, which account for about half of the Eurozone’s economy is about to rise by 4% and the French Prelim GDP is due to reduce by 2%.
Finally in Europe, Industrial Production, value of output produced by manufacturers, mines, and utilities is about to reduce by 0.6%. Production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, CB Leading Index, level of a composite index based on 7 economic indicators related to production is 0.1% like on the previous month.
Read more about the Pound in the GBP/USD forecast.
Group of Twenty (G20); Meetings (Day 2) are attended by finance ministers and central bankers from 20 industrialized nations, about a range of global economic issues including currency valuations and current account imbalances, in Seoul. An influential global policy-making body operating at the highest level, and their initiatives and policies can impact the currency markets.
That’s it for today. Happy forex trading!
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