U.S. Unemployment Claims and Industrial Production in the Euro-Zone are today’s highlight. Here is an outlook to the market moving events.
In the US, Unemployment Claims rose to 479K last week worse than anticipated a drop to 465K is expected now.
More in the US, Import Prices predicted 0.4% rise following two months of drops may affect inflation rates.
Later in the US, Federal Reserve Governor of the Federal Open Market Committee Elizabeth Duke delivers opening remarks at the public hearing on the Community Reinvestment Act, in Chicago. May affect interest rates and provide info regarding future monetary policy.
Finally in the US, Natural Gas Storage expected to rise to 35B following 29B in the previous week.
In Europe, Industrial Production, the main gauge of industrial activity is forecasted to increase at a slower pace by 0.7% in July from 1.0% in June, but after the unexpected drop in German industrial production, there may be a reassessment of the market’s optimistic outlook on the Euro-zone economy.
More in Europe, European Central Bank Monthly Bulletin is released revealing the statistical data that the ECB Governing Board evaluated when making the latest interest rate decision, and provides detailed analysis of current and future economic conditions from the bank’s viewpoint.
Finally in Europe, Italian Trade Balance deficit forecasted to decrease to 1.41B from 1.96B in May.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Australia, Employment Change added 45.9K jobs in June a smaller rise of 20.1K is expected now and Unemployment Rate is predicted to remain 5.1% as in the previous month.
More in Australia, Melbourne Institute Inflation Expectations reached 3.3% increase in the previous month. A similar increase is anticipated now.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Retail Sales the primary gauge of consumer spending is forecasted 0.6% rise following a disappointing 0.4% rise in May and Core Retail Sales also expected the same rise following 0.2% decrease.
In Japan, Monetary Policy Meeting Minutes a detailed record of the BOJ Policy Board’s meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.
More in Japan, Industrial Production, the main gauge of industrial activity is expected to reveal signs of economic slowdown in Japan and confirm the 1.5% month-over-month decline in industrial production as shown in the preliminary estimate released in July and Household Confidence index based on a survey of about 5,000 households which asks respondents to rate the relative level of economic conditions is expected to rise to 44.2 points from 43.5 in June.
That’s it for today. Happy forex trading!
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