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Canadian GDP and Bernank’s speech are the main market-movers today. Let’s review the events at hand.

In the US, Ben Bernanke is scheduled to speak   in   Arlington at the Federal Reserve Community Affairs Research conference. His words influence the market.

Later in the US, Chicago Purchasing Managers Index  Monthly release measuring business conditions purchasing managers from Illinois, Indiana and Michigan. An early indicator of ISM above 50 indicates expansion increased to 70.6 in March above 69.0 predicted. Anticipated t drop to 68.5 still signaling expansion in the manufacturing sector.

More in the US, University of Michigan Consumer Sentiment Index, evaluates consumer confidence in personal funds, business conditions and consumption based on surveys. Conducted by the University of Michigan The major indicator of consumer sentiment improved by 2.1 pt to 69.6 in April. A further climb to 70.0 is predicted.

Finally in the US, Personal Income measures an individual’s total annual gross salary earnings an indicator of consumer spending gained 0.3% in February below 0.5% rise predicted. It is estimated to rise further by 0.4%. Meantime, personal consumption expenditures Similar to Consumer Price Index measuring changes in prices of consumer supplies and services increased by 0.7% in February A small drop is expected.

In Canada, Gross Domestic Product  Measures the monetary value of all the goods and services produced within a country. An indicator of economic health Another 0.5% rise occurred in January in line with predictions. This time economists predict a flat rate.

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

In Europe, German Retail sales a major indicator of consumer spending, dropped 0.3% in February below expectations of 0.4% gain while on a yearly base gained 1.1% following 2.4% increase in the previous month. A small rise is expected now is expected.

Also in  Europe, M3 Money Supply, measures the entire amount of currency circulating in the country an indicator of inflation remained flat at 1.7% in February from the previous quarter and gained 2.0% on a yearly base. A further rise of 1.9% QoQ and 2.2% YoY is predicted now.

Further in Europe, Economic Confidence a monthly marker of the Euro-zone consumer confidence based on a survey of customers on economic conditions an indicator of future economic trends dropped 0.6 pt to 107.3. A further decrease to 107.0 is expected now. Meanwhile Industrial Confidence measuring   confidence among industrial sector in the Euro-zone based on a survey among industrial management asking about production expectations an indicator of economic conditions remained flat at 6.6 in March. The same figure is expected this time.

More in Europe, Unemployment Rate the percentage of people actively seeking employment and affects consumer spending an indicator of economic conditions dropped 0.1% to 9.9% in February is expected to remain 9.9% this time.

Finally in Europe, Consumer Confidence a leading indicator of economic health measuring the level of consumer confidence in economic activity decreased down to -11.4 from -10.6 in March 2011. The same figure is predicted.

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

In Switzerland, KOF Economic Barometer Measuring the level of a composite index comprised of 25 economic indicators an indicator of future trends in the economy increased to 2.24 in March and is expected to decrease by 0.04 pt to 2.20.

In Australia, Private Sector Credit, measures the amount money borrowed by the private sector in Australia indicator of economic growth climbed 3.4% on a yearly base and 0.5% in a monthly base in February. A small drop to 3.3% YoY and 0.4% MoM is expected now.

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

That’s it for today. Happy forex trading!