Housing Starts in Canada and Halifax HPI in the UK are some of today’s interesting and important events .Let’s see what awaits us today.
In the US, Crude Oil Inventories by commercial firms during the past week; most affects the loonie due to Canada’s sizable energy sector is about to be 1.1M similar to the past week. Influences the price of petroleum products which affects inflation,
In Canada, Housing Starts, Annualized number of new residential buildings that began construction during the previous month is about to rise by 5K from the last month. Leading indicator of economic health because building construction produces a wide-reaching ripple effect.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Industrial Production, value of output produced by manufacturers, mines, and utilities; is about to rise by 1.9%. Correlated with consumer conditions such as employment levels and earnings.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Halifax House Price Index (HPI), price of homes financed by Halifax Bank of Scotland (HBOS) is about to reduce by 1.5%. Rising house prices attract investors and spur industry activity.
More in Great Britain, CBI Industrial Order Expectations, Survey of about 550 manufacturers which asks respondents to rate the relative level of order volume expected during the next 3 months, indicates expectations are for lower volume; with -12 points.
Read more about the Pound in the GBP/USD forecast.
In Australia, Employment Change, employed people during the previous month is about to reduce by 8.4K. Job creation is an important leading indicator of consumer spending.
Later in Australia, Unemployment Rate, unemployed and actively seeking employment during the previous month is about to reduce by 0.2%. important signal of overall economic health.
Finally in Australia, Reserve Bank of Australia (RBA) Assistant Governor (Financial System) Dr. Philip Lowe due to speak at the Australian Business Economists Annual Forecasting Conference and Dinner, in Sydney. He’s responsible for advising Reserve Bank Board members – who decide where to set the nation’s key interest rates.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Reserve Bank of New Zealand (RBNZ) Press Conference & Rate Statement. Among the primary tools the RBNZ uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.
Later in New Zealand, Monetary Policy Statement, It provides valuable insight into the bank’s view of economic conditions and inflation – the key factors that will shape the future of monetary policy and influence their interest rate decisions.
In Japan, Final Gross Domestic Product (GDP), value of all goods and services produced by the economy is about to reduce by 0.1%. The broadest measure of economic activity and the primary gauge of the economy’s health.
That’s it for today. Happy forex trading!
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