Lots of economic indicators on a crowded Thursday: European PMI figures, Canadian Retail Sales, American Unemployment Claims and Existing Home Sales are the stars of today. And there’s more:
BOJ Governonr Shirakawa will speak early in the morning, and will give some insights on the suffering Japanese economy.
Lot’s of European PMI
At 7:00 GMT, the French will release thier Flash Manufacturing PMI and Flash Services PMI. Half an hour later, the Germans will follow with exactly the same data.
At 8:00 GMT, the all-European PMI figures will be released. All in all, Purchasing Managers Index, both in services and manufacturing, is expected to rise very slowly.
Also in Europe: Current Account is expected to show a deficit of 10.6 billion, less than last month’s -12.7 billion. Later, Industrial New Orders are expected to shrink by 2.4%, less than last month’s 3.4%. Also note the Belgian NBB Business Climate.
After yesterday’s pounding by Darling, the Pound will receive only one figure today: CBI Industrial Order Expectations, which is expected to fall by “only” 54 points.
In Switzerland, SNB Governing Board Vice-Chairman Philip Hildebrand will speak, and could shake the Swissy. Swissy traders will also pay attention to the ZEW Economic Expectations.
Crossing the Atlantic, Canadian Retail Sales are predicted to fall by 0.2% after last month’s neat rise of 1.9%. Core Retail Sales are expected to rise by 0.2%.
Later in Canada, BOC Monetary Policy Report will give an overview of the Canadian economy. If this isn’t enough, there’s also a speech by BOC governor Mark Carney.
In the US, Unemployment Claims are expected to bounce back to 635K, after last week’s surprising figure of 610K. The American job market isn’t expected to recover so fast.
America’s housing market is also expected to pause: Existing Home Sales are expected to slow to 4.68 million, after last month’s good figure of 4.72 million. American housing is off the bottom.
Happy Forex Trading!
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