US housing data and Euro-Zone business and consumer sentiment as the main highlight on today’s outlook. Let’s see what awaits us today.
In the US, Building Permits the annualized amount of residential permits released in October was well beyond predictions reaching 650,000 after 590,000 in the prior month. A small drop to 630,000 is expected now.
Later in the US, Housing Starts the annualized figure of residential buildings under construction Also bit predictions reaching 630,000 while a figure of 610,000 was expected. An increase to 640,000 is expected now.
In Canada, Core CPI, a monthly measurement of goods and services purchased by customers excluding food and energy items, increased by 0.3% in October, more than the 0.2% increase predicted, following 0.5% rise in September. Meanwhile headline CPI gained 0.2% the same as in September but above the 0.1% rise predicted.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Ifo Business Climate measuring the sentiment of 7,000 German company owners regarding current and future business conditions increased unexpectedly to106.6 in October from106.4 in the previous month and higher than the 405.3 expected. A small decline to 106.2 is predicted.
More in Europe, GfK German Consumer Climate a consumer sentiment gauge edged up to5.6 in November from5.4 in October while a drop to 5.2 was expected. A slight decline to 5.5 is foreseen.
Later in Europe, German PPI, measuring change in the selling price of finished goods, increased by 0.2% in October after 0.3% gain in the previous month. This reading was better the 0.1% rise expected. An increase of 0.1% is estimated now.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain, GfK Consumer Confidence UK consumer survey measuring their sentiment regarding economic conditions gained 1 pts. Reaching -31 from-32 in October. Another rise to -30 is predicted.
More in Great Britain, Nationwide Consumer Confidence, and Another consumer sentiment indicator dropped to36 in October after reaching45 in the previous month. Another decline to 34 is likely now.
Finally in Great Britain, CBI Realized Sales, A survey of 160 companies asking about volumes of sales, plunged to-419 in November, more than the -12 predicted and following-11 in October. An increase to -14 is foreseen.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Trade Balance a monthly measurement of the difference between imports and exports revealed surplus edged up in October to 2.15 billion from 1.91 billion in the previous month while 2.06 billion was expected. Another increase to 2.47 billion is foreseen.
Read more about the Swiss franc in the USD/CHF forecast.
In Australia, Monetary Policy Meeting Minutes a report of the Reserve bank of Australia’s last monetary policy meeting, where detailed info which led to the RBA’s rate decision can be found including material on the market’s current condition.
Finally in Australia, MI Leading Index, is a combined reading of 9 economic markers dropped 0.3% in September after 0.7% increase in August.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Current Account increased its deficit to -0.92B in the second quarter following -0.09B in the first quarter. Economists expected a smaller deficit of -0.69B.
For more about the kiwi, see the NZD/USD forecast.
In Japan, Trade Balance a monthly measurement of the difference between imports and exports revealed deficit has expanded to -0.46T following -0.10T in September. Analysts predicted a smaller figure of -0.20T. A smaller deficit of -0.28T is predicted now.
Read more about the yen in the USD/JPY forecast.
That’s it for today.
Happy forex trading!
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