CPI in the US, and Claimant Count Change in the UK, are only a few of the interesting outlook events today. Let’s see what awaits us.
In the US, Consumer Price Index (CPI), goods and services purchased by consumers is 0.2% like on the previous month, while Core CPI (excluding food and energy) is about to rise by 0.1%. Rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.
Later in the US, Treasury International Capital (TIC) Long-Term Purchases, foreign long-term securities purchased by US citizens and US long-term securities purchased by foreigners during the reported period is about to rise by 1.3B. Demand for domestic securities and currency demand are directly linked
More in the US, Empire State Manufacturing Index, Survey of about 200 manufacturers in New York state to rate the relative level of general business conditions, is about to rise by 15.8 points and indicates improving conditions with 4.7 points.
Also in the US, Capacity Utilization Rate, available resources being utilized by manufacturers, mines, and utilities; is about to rise by 0.3%. Leading indicator of consumer inflation.
Moreover in the US, Industrial Production, adjusted value of output produced by manufacturers, mines, and utilities is about to rise by 0.4%. Correlated with consumer conditions such as employment levels and earnings.
Finally in the US, Crude Oil Inventories, number of barrels of crude oil held in inventory by commercial firms during the past week; is about to rise by 1.1M. Affects the loonie and influences the price of petroleum products which affects inflation.
In Canada, Manufacturing Sales, sales made by manufacturers is about to rise by 1.5%. It’s a leading indicator of economic health – manufacturers are quickly affected by market conditions.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Employment Change, number of employed people is about to rise by 0.2%. Tends to have a muted impact because there are several earlier indicators related to Eurozone labor conditions.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Claimant Count Change, people claiming unemployment-related benefits during the previous month is about to reduce by 0.8. Unemployed people is an important signal of overall economic health.
More in Great Britain, Average Earnings Index, price businesses and the government pay for labor, including bonuses is about to rise by 2%. Businesses pay more for labor the higher costs are usually passed on to the consumer.
Finally in Great Britain, CBI Realized Sales, Survey of about 160 retail and wholesale companies which asks respondents to rate the relative level of current sales volume, indicates higher sales volume with 38 points.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, ZEW Economic Expectations, Survey of institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Switzerland indicates pessimism with -30.9 points.
In Australia, Reserve Bank of Australia (RBA) Assistant Governor (Financial Markets) Dr. Guy Debelle, due to speak at the 23rd Australasian Finance and Banking Conference, in Sydney.
Also in Australia, Westpac Consumer Sentiment, Survey of about 1,200 consumers which asks respondents to rate the relative level of past and future economic conditions, employment, and climate for major purchases is about to be -5.3%.
Finally in Australia, New Motor Vehicle Sales, new cars and trucks sold domestically is about to be 0.6%. sign of consumer confidence.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Tankan Manufacturing Index, Survey of about 1,200 large manufacturers which asks respondents to rate the relative level of general business conditions indicates improving conditions with 4 points.
Later in Japan, Tankan Non-Manufacturing Index, Survey of about 1,200 large businesses which asks respondents to rate the relative level of is about to reduce by 2 points and indicates worsening conditions.
That’s it for today. Happy forex trading!
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