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British GDP, inflation data in Europe and the historic press conference by Ben Bernanke which accompanies the decision about QE2 are the highlights of a very busy day. Let’s see what awaits us today.

In the US, Fed Governor Ben Bernanke is about deliver a press conferences regarding the US economy and USD Value.

More in the US, interest rate announced by the Federal Reserve Board of Governors, it affects the exchange rate and due to remain 0.25%.

Later the US, MBA Mortgage Applications, weekly index measures home loan demand a leading indicator of home sales is expected to remain 5.3% like on the previous month.

Furthermore in the US, Durable Goods Orders, by the US Census Bureau that measures manufacturers’ orders price of durable goods is about to rise by 1.3%.

Finally in the US, Crude Oil, inventories and indicator of oil demand and rates is expected now to rise to 1.3 million.

For more on USD/CAD, read the  Canadian dollar forecast.

In Europe, CPI (Consumer price index) measures the cost of living by comparing basket of goods and services’ including volatile components, is likely to rise by 0.3% on the yearly forecast, and reduced by 0.3% on the monthly.

Later in Europe, Industrial new orders, value of new contracts for goods formed by the manufacturing sector. Increasing production affects the GDP. A rise of 0.9% is expected in the yearly forecast and 0.5% in the monthly.

Later on in Europe, Unemployment Rate percentagepercent  of actively seeking employment and affects the consumer spending is expected to reduce by 0.1% and due to rise by 18K.

Finally in  Europe, Consumer Confidence Index, based on a survey of consumers inquiring about economic activity a good indicator of economic strength is expected to remain 5.9 points.

For more on the Euro, read the  EUR/USD forecast.

In Great Britain, Nationwide Housing Price Index (HPI), the UK monthly average houses prices with mortgage. Affects directly the GBP as positive (bullish) or negative (bearish). Is about to gain 0.1% on the yearly forecast and 0.5% on the monthly.

Read more about the Pound in the  GBP/USD forecast.

In Australia, CPI (Consumer price index) measures the cost of living by comparing basket of goods and services including volatile components, is likely to rise by 0.3% in the yearly forecast and 0.8 in the currently.

Later in Australia, Private Sector Credit amount of loans released by the Reserve Bank of Australia and moves the economic growth. Is now expected to reduce by 0.1% on the monthly basis and rise by 0.1% on the yearly.

For more on the Aussie, read the  AUD/USD forecast.

In New Zealand, RBNZ Interest Rate publicized by the Reserve Bank of New Zealand (RBNZ). A rise is positive (bullish) to the NZD. No change is expected and about to remain 2.5%.

Later in New Zealand, Business Confidence a monthly marker of New Zealand business confidence based on a survey of businesses asked about their outlook for the next twelve months. It is a strong early indicator of future economic conditions. Is expected to reduce to -8.7 points.

In Japan, Retail Trade measures the value of goods and services sold by manufacturers providing a major gauge of consumption and consumer confidence. Is now expected to reduce by 6.2% on the monthly forecast and 6% on the yearly.

Later in Japan, Retail Sales, A major indicator of consumer spending, reduce of 0.3% is expected.

More in Japan, CPI (Consumer price index) measures the cost of living by comparing basket of goods and services including volatile components, is likely to rise by 0.3%.

Finally in Japan, Unemployment Rate percentagepercent  of actively seeking employment and affects the consumer spending is likely to remain 4.6%.

That’s it for today. Happy forex trading!

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