We start the week with an important speech by Ben Bernanke in the US, BBA Mortgage Approvals in GB and much more. Let’s see what awaits us today.
In the US, Federal Reserve Chairman Ben Bernanke, due to deliver opening remarks at the Mortgages and the Future of Housing Finance Conference hosted by the Federal Reserve Bank and the Federal Deposit Insurance Corporation, in Arlington. It is influential on the nation’s currency value and often used to drop subtle clues regarding future monetary policy.
Later in the US, Existing Home Sales that measures the number of residential buildings that were sold during the previous month, excluding new construction is about to 0.16M. Monthly data reported in an annualized format. Tend to have more impact than New Home Sales and affects the home triggers a wide-reaching ripple effect.
Finally in the US, Federal Reserve Bank of New York President William Dudley Due to speak about the national and regional economy at Cornell University, in Ithaca. Audience questions expected.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Industrial New Orders that measures the new purchase orders placed with manufacturers total value, is about to rise by 1% – a leading indicator of production.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, British Bankers’ Association (BBA) Mortgage Approvals, new mortgages approved for home purchase by BBA-represented banks during the previous month is about reduced by 0.2K. It provides an excellent gauge of how many qualified buyers are entering the market.
Read more about the Pound in the GBP/USD forecast.
In Australia, Reserve Bank of Australia (RBA) Governor Glenn Stevens due to speak at the Australian Industry Group’s Annual National Forum, in Canberra. Affects the short term interest rates.
Later in Australia, Producer Price Index (PPI), the price of finished goods and services sold by producers is about to rise by 3%. This data has added importance because it’s released ahead of CPI. When producers charge more for goods and services the higher costs are usually passed on to the consumer.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Trade Balance that measures the difference in value between imported and exported goods during the reported month will decreased by 0.09T. Export demand also impacts production and prices at domestic manufacturers;
Finally in Japan, the price of services purchased by corporations is about to drop rise by 0.1%. When corporations pay more for services the higher costs are usually passed on to the consumer.
That’s it for today. Happy forex trading!
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