ISM Manufacturing PMI in the US and Manufacturing PMI in the UK are the main events today. Here is an outlook on the market-movers awaiting us.
In the US, The Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI); Monthly Managers Survey to value the business conditions such as new orders, deliveries and inventories, rise is expected from 53.9 points on December up to 54.6 points now. And on the ISM Manufacturing Prices similar rise is forecasted from 47.5 points to 49.5 points.
Later in the US, Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change, Predicts the employed over the last month (not including farming industry and government), about to drop down from 325K on the last report to 189K.
Later on in the US, Crude Oil Inventories, weekly measurement to value the crude oil in inventory, due to reduce by 0.4M from the last week down to 3.2M.
Also in the US, Construction Spending is expected to reduce down to 0.7% from the last report.
Finally in the US, Total Vehicle Sales is expected to drop down by 0.1M from the last report down to 13.4M.
In Europe, Consumer Price Index (CPI) Flash Estimate, Assessment rice change I for all consumers goods and services that were purchased over the last month, due to drop down by 0.1% down to 2.7%.
Later in Europe, Final Manufacturing Purchasing Managers’ Index (PMI); no change is expected from the last month survey and 48.7 points predicts to remain.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain, Manufacturing Purchasing Managers’ Index (PMI); Survey to rate the business conditions such prices, supplier deliveries, and inventories, growth is predicted from 49.6 on the last month up to 50.1 this time.
More in Great Britain, Nationwide House Price Index (HPI); measures the selling price change of households with “Nationwide” mortgages, expects to rise up to -0.1% this time.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Retail Sales primary gauge of consumer spending, value the retail level sales (without cars and gas stations), reduce is predicted by 0.2% down to 1.6% from December.
More in Switzerland, Schweizerischer Verband fur Materialwirtschaft und Einkauf (SVME), Purchasing Managers’ Index (PMI), Monthly Managers’ Survey to rate the business conditions like employment, production and new orders, due to rise up to 51.7 points, 1 point more than on the last survey.
Read more about the Swiss franc in the USD/CHF forecast.
In Australia, House Price Index (HPI), selling price change in the nation’s 8 state capitals, is about to rise up from -1.2% to -0.7% this quarter.
Later in Australia, Commodity Prices, selling price change of exported commodities, is about to remain 10.9% similar to the last month.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Average Cash Earnings, value the employment income placid by workers, about to further reduce from -0.2% on the last month down to -0.3%.
More in Japan, Monetary Base, is about to rise up from 13.5% on December to 14.6% now.
Read more about the yen in the USD/JPY forecast.
That’s it for today.
Happy forex trading!
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