US Federal Budget Balance is the major event today. Let’s see what awaits us today.
In the US, Federal Budget Balance increased its deficit in February to $231.7 billion, a little more than estimated by the CBO following $27.4 billion deficit in the previous month. Deficit is expected to narrow to $207.5 billion this time.
More in the US, Crude Oil Inventories edged up to 9 million last week from 7.1 million in the prior week. The reading was higher than the 2.1 million predicted by analysts.
Later in the US, Beige Book is to be released detailing current economic conditions of the 12 Federal Reserve districts. This summary of data includes economic trends as well as issues to handle, offering a possible view into the next FOMC members may vote at the next interest rate policy meeting.
Further in the US, Import Prices gained 0.4% in February, less than the 0.6% increase predicted by economists, following a flat reading in January. A rise of 0.8% is anticipated.
Finally in the US, Janet Yellen Speaks. Federal Reserve Governor Janet Yellen is scheduled to speak in New York. Her words can provide clues on future monetary policy.
In Canada, Housing Starts edged up in February to 201,000 from198,000 in January. The rise was above the 199,000 units expected. A further rise of 202,000 is predicted now.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German WPI, German Wholesale Price Index gained 1.0% in February while expected a higher increase of 1.1% and following a rise of 1.2% in January indicating an inflation trend. A further rise of 0.9% is predicted this time.
For more on the Euro, read the Euro to dollar forecast.
In Australia, Westpac Consumer Sentiment dropped unexpectedly 5.0% in March following 4.2% climb in February.
More in Australia, Home Loans decreased 1.2% in January more than the 0.5% decline anticipated by analysts, following 2.15 climb in the previous month. A further plunge of 3.7% is expected now.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, REINZ HPI increased in February by 0.8% following1.4% drop in January signaling an improvement in the housing market.
More in New Zealand, Business NZ Manufacturing Index. NZ manufacturing sector thrived in February rising to 57.7 from50.8 in January indicating expansion.
For more about the kiwi, see the NZD/USD forecast.
In Japan, BOJ Monthly Report is to be released providing a detailed account of the data lead to the BOJ’s previous rate decision. The report includes statistical data and current and future economic conditions as preserved by the Bank of Japan.
More in Japan, CGPI . Corporate Goods Price Index increased 0.6% in February in line with predictions, following 0.5% increase in January. An increase of 0.4% is anticipated.
Finally in Japan, M2 Money Stock. Japanese total cash in circulation edged up 2.9% in February a little lower than the 3.1% increase predicted and following 3.1% in the previous month. A rise of 2.8% is expected now.
Read more about the yen in the USD/JPY forecast.
That’s it for today.
Happy forex trading!
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