We start the week with Fed Chairman Bernanke speech in Stone Mountain, BOC Business Outlook Survey in Canada more interesting events. Let’s see what awaits us today.
In the US, Federal Reserve Chairman Ben Bernanke, due to speak at the Federal Reserve Bank of Atlanta’s 2011 Financial Markets Conference “Navigating the New Financial Landscape,” in Stone Mountain.
More in the US, Federal Reserve Bank of Chicago President Charles Evans; due to participate in a panel discussion titled “The Role of Government in Financial Literacy” at the Visa Financial Literacy and Education Summit, in Chicago.
In Canada, Bank of Canada (BOC) Business Outlook Survey, Survey of about 100 businesses to rate the relative level of general business conditions. It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Sentix Investor Confidence, Survey of about 2,800 investors and analysts which asks respondents to rate the relative 6-month economic outlook for the Eurozone, indicates optimism with 16.2 points.
Also in Europe, Producer Price Index (PPI), price of finished goods and services sold by producers; is about to reduce by 0.8%.
For more on the Euro, read the EUR/USD forecast.
In Great Britain, Construction Purchasing Managers’ Index (PMI); Survey of about 170 purchasing managers which asks respondents to rate the relative level of business conditions, indicates industry expansion with 54.5 points.
More in Great Britain, Housing Equity Withdrawal, value of new home-secured loans that are not used for home purchases or improvements is about to rise by 0.5B.
Read more about the Pound in the GBP/USD forecast.
In Australia, Australia and New Zealand Banking Group (ANZ), jobs advertised in the major daily newspapers and websites covering the capital cities is due to be similar to the previous month 1.2%.
More in Australia, MI Inflation Gauge, price of goods and services purchased by consumers; is due to be 2%.
Also in Australia, Trade Balance, value between imported and exported goods and services during the reported month is about to reduce by 0.64B. Export demand also impacts production and prices at domestic manufacturers.
Finally in Australia, AIG Services Index, Survey of about 200 service-based companies to rate the relative level of business conditions, indicates contraction with 48.7 points.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, NZIER Business Confidence, Survey of about 3500 businesses to rate the relative 6-month economic outlook, indicates optimism with 8 points.
More in New Zealand, Australia and New Zealand Banking Group (ANZ) Commodity Prices, Change in the global price of exported commodities is due to remain 2.7%.
Finally in New Zealand, Visitor Arrivals, Change in the number of short-term overseas visitors who arrived in the country is due to remain 2%. Tourism plays an important role in the economy – about 10% of the population is employed by the tourism industry, and a sizable portion of the nation’s GDP is indirectly related to tourism.
In Japan, Monetary Base, total quantity of domestic currency in circulation and current account deposits held at the Bank of Japan (BOJ) is about to rise by 0.2%.
That’s it for today. Happy forex trading!
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