Durable Goods Orders in the US and Prelim GDP in the UK are the main events today. Here is an outlook on the market-movers awaiting us
In the US, Durable Goods Orders, leading indicator of production to measurs the manufacturer’s new purchase orders, reduce is predicted down from 2.4% on March to -1.3 on this report. Similar is expected on the Core Durable Goods Orders (not including transportation items), from 1.8% on March down to 0.6 now.
Later in the US, Federal Open Market Committee (FOMC) Statement, that is Scheduled 8 times a year and it is used as the primary FOMC’s tool to communicate with investors regarding monetary policy and economic future outlook. No change is predicated with the Federal Funds Rate, 0.25% is expected.
Later on in the US, Federal Open Market Committee (FOMC) Economic Projections, which is Scheduled 4 times a year and been used as the primary Fed’s tool for economic and monetary projections to investors. Followed by FOMC Press Conference
More in the US, Crude Oil Inventories, weekly indicator which affects inflation impacts growth when measuring the crude oil that is held in commercial inventory on the past month, 3.9M is predicted similar to the last week report.
Finally in the US, Timothy Geithner, US Treasury Secretary is due to speak in Portland;
In Canada, Mark Carney, Bank of Canada (BOC) Governor is due to testify in Ottawa.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Mario Draghi, European Central Bank (ECB) President, is due to testify in Brussels.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain, Prelim Gross Domestic Product (GDP); broadest measure of financial activity to value all goods and services produced by the economy; rise is predicted from -30% on the last quarter up to 0.10% this time..
Later in Great Britain, Confederation of British Industry (CBI) Industrial Order Expectations, manufacturer’s Survey to rate the order volume that is expected on the next 3 months, lower volume expectations is due with -8 points similar to the last month survey.
Also in Great Britain, Nationwide Consumer Confidence, Consumer Spending Survey to rate the recent and forthcoming financial conditions; is due to reduce by 2 points from March down to 42 points.
Finally in Great Britain, Index of Services, value the total Gross Value Added (GVA) at the private and government services sectors; about to rise by 0.30% from the last month up to 0.60%.
Read more about the Pound in the GBP/USD forecast.
In New Zealand, Reserve Bank of New Zealand (RBNZ) Rate Statement, that is scheduled 8 times a year to measures the Interest rate of banks loans in comparison to RBNZ other banks. Meanwhile on the Official Cash Rate no change is expected and 2.5% is likely to remain.
For more about the kiwi, see the NZD/USD forecast.
That’s it for today.
Happy forex trading!Get the 5 most predictable currency pairs