We start the week with some interesting news and events, Retail Sales in the US, PPI in the UK and more .Let’s see what awaits us today.
In the US, Treasury Currency Report, It provides a detailed review of global exchange rate policies, economic conditions, and central bank and government actions around the world. Most importantly, the report outlines counties that the Treasury deems currency manipulators.
Moreover in the US, Retail Sales is about to reduce by 0.5%, while the Core Retail Sales (excluding automobiles) is about to rise by 0.3%. Primary gauge of consumer spending, which accounts for the majority of overall economic activity.
In Canada, Bank of Canada (BOC) Governor Mark Carney due to speak about the economic outlook at the Economic Club of Canada, in Toronto.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, European Central Bank (ECB) President Jean-Claude Trichet due to speak at the International Club, in Frankfurt and can affect the controls short term interest rates.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Producer Price Index (PPI) goods and raw materials purchased by manufacturers is due to reduce by 1.4%. Leading indicator of consumer inflation – when manufacturers pay more for goods the higher costs are usually passed on to the consumer.
More in Great Britain, Monetary Policy Committee (MPC) Bank of England (BOE) Deputy Governor Charles Bean; due to speak at the Market News International Annual Seminar, in London. Can affects on where to set the nation’s key interest rates.
Later in Great Britain, Rightmove House Price Index (HPI) is about to be -3.2% similar to the previous month.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Producer Price Index (PPI) is about to rise by 0.5%, leading indicator of consumer inflation – when manufacturers pay more for goods the higher costs are usually passed on to the consumer.
In Australia, Reserve Bank of Australia (RBA) Governor Glenn Stevens due to testify about the inquiry into competition within the Australian banking sector before the Senate Economics References Committee, in Sydney and can affects the short term interest rates.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Revised Industrial Production, value of output produced by manufacturers, mines, and utilities is due to be -1.8% similar to the previous month. Leading indicator of economic health.
That’s it for today. Happy forex trading!
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