Today there are lots of important releases everywhere: American Building Permits and PPI, British CPI and the German ZEW Economic Sentiment are the highlights of this very busy day. And there’s more…Let’s see what’s up for today:
Australia starts the day with the Monetary Policy Meeting Minutes. After hinting on future rate hikes in parliament, we’ll know if Glenn Stevens revealed this attitude at the recent RBA meeting. This is quite important for AUD/USD.
Near the end of the day, RBA Assistant Governor Dr. Malcolm Edey will speak in a conference, and might shake the Australian dollar as well. The MI Leading Index is due later this week. For more, read the Aussie Outlook.
Britain is slowly slipping into deflation. CPI is expected to decline to 1.6% from 1.8% (annually adjusted), and Core CPI is expected to dip from 1.6% to 1.5%. This major release for the Pound is published at 8:30 GMT. For more on the British Pound, check out the GBP/USD Outlook.
German ZEW Economic Sentiment is expected to shake EUR/USD. It’s predicted to bounce from 39.5 to 45.2. Also the all-European figure is expected to rise, helping the Euro. For more on this popular pair, read the EUR/USD Outlook.
In the US, Building Permits are predicted to edge up from 570K to 580K. At the same time, another housing figure is released, Housing Starts, which is expected to go up from 580K to 600K. American housing is off the bottom, but hasn’t really risen..
At the same time, more inflation figures are released in the US: PPI is expected to turn negative, and fall by 0.2% (monthly), while Core PPI is expected to rise by 0.1%. These figures don’t put pressure on Bernanke to raise the rates…
In Canada, the Foreign Securities Purchases are expected to show fresh flow of money into Canada. They’re expected to be positive, at 16.25 billion. For more on the loonie, check out the Canadian Dollar Outlook.
New Zealand also releases its Producer Price Index. Here, prices are falling. PPI Input is expected to plunge by 0.9% (quarterly figure) and the PPI Output is expected to fall by 0.5%.
That’s it for today. Happy forex trading!