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Unemployment Claims in the US, Official Bank Rate and MPC Rate Statement in the UK are some of the events. Let’s see what awaits us today.

In the US, Unemployment Claims, is about to reduce by 9K from the last week. Important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

In Canada, New Housing Price Index (NHPI), selling price of new homes is about to rise 2%. Rising house prices attract investors and spur industry activity.

For more on USD/CAD, read the  Canadian dollar forecast.

In Europe, European Central Bank (ECB) Monthly Bulletin, It reveals the statistical data that the ECB Governing Board evaluated when making the latest interest rate decision, and provides detailed analysis of current and future economic conditions from the bank’s viewpoint.

For more on the Euro, read the  EUR/USD forecast and Casey Stubbs’  latest analysis.

In Great Britain, Monetary Policy Committee (MPC) Rate Statement, among the primary tools the MPC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes.

More in Great Britain, Official Bank Rate is 0.50%.Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future.

Later in Great Britain, Asset Purchase Facility is 200B and it increases demand for bonds which tends to lower long-term interest rates is -8.1B similar to the previous month

Finally in Britain, Trade Balance, value between imported and exported goods during the reported month is -8.1B. Export demand and currency demand are directly linked.

Read more about the Pound in the  GBP/USD forecast.

In New Zealand, Overseas Trade Index, price of internationally traded goods and services is about to reduce by 0.4%.

In Japan, BSI Manufacturing Index, Survey of large manufacturers which asks respondents to rate the relative level of general business conditions, indicates optimism with 14.3 points.

That’s it for today. Happy forex trading!

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