Very interesting events on today’s outlook such as CB Consumer Confidence in the US; Public Sector Net Borrowing in the UK and much more .Let’s see what awaits us today.
In the US, the Conference Board (CB) Consumer Confidence, Survey of about 5,000 households to rate the relative level of current and future economic conditions, is due to be 61.5 points. Financial confidence. Financial confidence accounts for a majority of overall economic activity.
Later in the US, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota, due to speak at the South Dakota Chamber of Commerce and Industry, in Pierre. Audience questions expected.
More in the US, Standard & Poor’s (S&P) / Case-Shiller (CS) Composite-20 House Price Index (HPI) leading indicator since rising house prices attract investors and spur industry activity; is about to reduce by 0.5%.
Finally in the US, Richmond Manufacturing Index, Survey of about 100 manufacturers in the Richmond area to rate the relative level of business conditions, indicates improving conditions with 17 points.
In Canada, Retail Sales, It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity, is due to reduce by 1.3%. and the Core Retail Sales (excluding automobiles) is due to reduce by 0.3%.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Belgium NBB Business Climate, Survey of about 6,000 businesses to rate the relative level of current business conditions and expectations for the next 6 months, indicates improving conditions with 4.4 points.
Also in Europe, French Consumer Price Index (CPI), price of goods and services purchased by consumers; is about to reduce by 0.6%.
For more on the Euro, read the EUR/USD forecast.
In Great Britain, Public Sector Net Borrowing, value between spending and income for public corporations, the central government, and local governments during the previous month; indicates a surplus with -0.7B.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Trade Balance, is about to rise to 1.30B. Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers.
Later in Switzerland, UBS Consumption Indicator, index based on 5 consumer-based economic indicators; is due to remain 1.84 points.
In Australia, RBA Governor Glenn Stevens, due to deliver a speech titled “Australia and the Resources Boom” at the Victoria University Conference, in Melbourne.
Later in Australia, Construction Work Done, value of construction projects completed; is about to rise by 3.6%. an important gauge of the construction industry, which has a sizable impact on overall employment and spending.
Finally in Australia, Wage Price Index, leading indicator for the price businesses and the government pay for labor, excluding bonuses is due to reduce by 0.2%.
For more on the Aussie, read the AUD/USD forecast.
That’s it for today. Happy forex trading!Get the 5 most predictable currency pairs