Unemployment Claims in the US, Manufacturing Production in the UK are some of the interesting events on this hectic day. Let’s see what awaits us today.
In the US, Unemployment Claims, individuals who filed for unemployment insurance for the first time during the past week is about to reduce by 4K. It is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
Later in the US, Federal Budget Balance, value between the federal government’s income and spending during the previous month is due to rise by 10.5b but still indicates a deficit with -69.5B.
In Canada, Bank of Canada (BOC) Deputy Governor John Murray, due to speak at the Institute of Public Administration of Canada – Johnson Shoyama Graduate School of Public Policy, in Regina.
More in Canada, New Housing Price Index (NHPI) that measures the change in the selling price of new homes is about to rise by 0.3%. Rising house prices attract investors and spur industry activity.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Deutsche Bundesbank President Axel Weber, due to deliver a speech titled “Perspectives of European Monetary and Fiscal Policy” at the German Chamber of Commerce, in Vienna.
Also in Europe, European Central Bank (ECB) Monthly, 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.
Later in Europe, German Final Consumer Price Index (CPI) is about to remain 0.5% like on the previous month, while the German Wholesale Price Index (WPI),price of goods sold by wholesalers, is about to reduce by 0.9%.
Later on in Europe, French Prelim Non-Farm Payrolls, number of employed people, excluding the farming industry and government; is due to rise by 0.1%.
Finally in Europe, French Industrial Production, value of output produced by manufacturers, mines, and utilities is about to reduce by 2.6%/
For more on the Euro, read the EUR/USD forecast.
In Great Britain, Manufacturing Production, total inflation-adjusted value of output produced by manufacturers is about to reduce by 0.1%. It’s a leading indicator of economic health – production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings.
More in Great Britain, Monetary Policy Committee (MPC); Rate Statement, It’s 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.
Later in Great Britain, Official Bank Rate Interest rate at which banks lend balances held at the BOE to other banks is due to remain 0.5%.
Finally on in Great Britain, Asset Purchase Facility that measures the Total value of money the BOE will create and use to purchase assets in the open market is about to remain 200B.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, State Secretariat for Economic Affairs (SECO) Consumer Climate, Survey of about 1,100 households to rate the relative level of past and future economic conditions; indicates optimism, below with 11 points.
Later in Switzerland, Consumer Price Index (CPI); price of goods and services purchased by consumers; is about to reduce by 0.1%. rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.
In Australia, RBA Governor Glenn Stevens due to testify before the House of Representatives Standing Committee on Economics, in Canberra, As head of the central bank has influence over the nation’s currency value.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Food Price Index (FPI), price of food and food services purchased by households is about to remain 0.8% like on the previous month.
That’s it for today. Happy forex trading!
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