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Great news from the U.S. – Unemployment decrease and US Treasury Secretary Timothy Geithner’s testimony before the House Appropriations Committee, in Washington DC are at the front of the news today. Let see what else awaits us this day.

In the US, Unemployment Claims report, released weekly, shows a decrease in the number of expected claims filed by newly unemployed Americans from 456K to 442K. This is a positive direction for the U.S. market.

Later in the US, Natural Gas Storage, released weekly, demonstrates the number of cubic feet of natural gas held in underground storage is expected to drop from 73B to 70B. This could affect the Loonie currency.

Finally in the US, US Treasury Secretary Timothy Geithner testifies on the fiscal 2011 budget before the House Appropriations Committee, in Washington DC. The speech communicates the US President’s economic policies, and signal policy shifts to the public and to foreign governments.

In Canada, Mark Carney governor of Bank of Canada speaks before the Senate Committee on Banking, Trade and Commerce, in Ottawa. This could highly influence short term interest rates and currency rates.

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

In Europe, German Unemployment Change released monthly, shows an expected drop of 11000 from the previous drop of 31000. Let’s see what the actual figure will be.

Also in  Europe, M3 Money Supply, released monthly, measuring the change in the total quantity of domestic currency in circulation and deposited in banks shows an expected rise from -0.4% to -0.1% and also Private Loans report measuring change in the total value of new loans issued to consumers and businesses in the private sector is expected a similar rise.

More from Europe, Jean-Claude Trichet the President of the European Central Bank speaks at the Economic Summit organized by the CESifo Group, in Munich. This could lead to change in short term interest and in the Euro currency.

For more on the Euro, read the  EUR/USD forecast and Casey Stubbs’  latest analysis.

In Great Britain, Nationwide House Price Index, released monthly, measuring the change in the selling price of homes with mortgages backed by Nationwide is expected to go down from 0.7% to 0.4% could indicate a slowing in the housing industry.

More in Great Britain, GfK Consumer Confidence, measuring the level of a diffusion index based on surveyed consumers, is expected to rise from -15 points to -14 points making room for careful optimism.

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

In Australia, Housing Industry Association  New Home Sales released monthly will probably remain around -5.2%.

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

In New Zeeland, Building Consents  will probably remain around 5.9%.

In Japan, Household Spending is expected a positive increase from -0.5% to 0.7% shows a vibrant economic activity in the Japanese market.

Tokyo Core Consumer Price Index is expected to have a small drop from -1.8% to -2.0% although the National Core CPI is expected to remain -1.2% as in last month.

More from Japan, Preliminary Industrial Production shows a rise in the total inflation-adjusted value of output produced by manufacturers from -0.6% to 0.9%. Manufacturing Purchasing Managers’ Index is likely to remain in the neighborhood of 52.4 points.

Finally in Japan, Unemployment Rate is expected to remain 4.9%

That’s it for today. Happy forex trading!

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