The new forex week starts with the Euro at crossroads, after tumbling down on Friday. European industrial production stands out today, among other events. Let’s see what’s up for today:
Japan provides a strong start to the day, with the release of the Tankan Manufacturing Index. This important indicator is expected to advance to -26 points, following -33 last quarter. This is still in the negative zone. Te complementary figure, Tankan Non-Manufacturing Index is expected to advance from -24 to -23.
In Britain, the Rightmove HPI is predicted to show a small rise in prices, after falling b 1.6% last month. GBP/USD is at crossroads, and its moves are closely watched.
For more on the Pound, read the GBP/USD forecast.
In Switzerland, Producer price index is predicted to rise by 0.2% after a fall of 0.4% last month. USD/CHF is already quite far from parity.
In Europe, Industrial Production is expected to drop by 0.6%, after the disappointing rise of only 0.3% last month. Quarterly Employment Change will probably drop as well, but a more modest scale than last quarter’s 0.5%.
For more on the Euro, also on the verge of a drop, read the EUR/USD Forecast.
Canada’s dollar has shown strength against the greenback. Capacity Utilization Rate is expected to remain almost unchanged at 67.7%. Check out the Canadian dollar forecast for more.
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