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Prelim GDP and Fed Chairman Bernanke Testifies in the US are the main events today.   Here is an outlook on the market-movers awaiting us

In the US, Ben Bernanke, Federal Reserve Chairman is about to testify in Washington DC.

More in the US, Prelim Gross Domestic Product (GDP),the  widest quarterly measurement of monetary activity that value all goods and services of the economy production, 2.8% is likely to remain this time.

Later in the US, Chicago Purchasing Managers’ Index (PMI), Monthly Survey to value the purchasing managers in the Chicago area, indicates expansion with 61.6 points, 1.4 points growth from the last month.

Later on in the US, Sandra Pianalto, Federal Reserve Bank of Cleveland President is due to lecture in Ohio.

Also in the US, Crude Oil Inventories, weekly report to value the crude oil barrels held in inventory, 1.6M is due to remain like on the last report.

Finally in the US, Beige Book tool that the Federal Open Market Committee (FOMC) uses to make their next interest rates decisions.

In Europe, Consumer Price Index (CPI), can affect the overall inflation, monthly report to value the consumers’ price change of goods and services, no change is foreseen and 2.7% is due to remain. Meanwhile on the Core CPI (without tobacco, energy, food and alcohol) rise of 0.2% from january is expected up to 1.8% now.

More in Europe, German Unemployment Change, value the unemployed people over the last month, due to rise from -34K on January up to -5K this time.

Finally in Europe, French Consumer spending, primary consumer spending indicator to value of all goods costs by consumers, rise is forecasted from -0.7% on the last month up to 0.3% this time.

For more on the Euro, read the  Euro to dollar forecast.                                                                              

In Great Britain, Inflation Report Hearings, Bank of England (BOE) Monetary Policy Committee (MPC) members vote regarding where to set the nation’s key interest rates and on upcoming monetary policy.

Later in Great Britain, GfK Consumer Confidence, consumer spending important indicator based on a monthly survey to rate the overall economic situation, rise from pessimism indicator is predicted now with -29 points, growth of 2 points from the previous report.

More in Great Britain, Net Lending to Individuals, monthly report that is correlated with consumer spending and due to rise up from 0.4B on January up to 0.8B now.

Finally in Great Britain, Martin Weale, External BOE MPC Member is about to speak in in London.

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

In Switzerland, KOF Economic Barometer, composite index that is based on 12 financial indicators, due to rise from -0.17 on the last month report up to -0.11 now.

Read more about the Swiss franc in the USD/CHF forecast.

In Australia, Retail Sales, it is a primary consumer spending monthly measurement that is about to rise up from -0.1% on January up to 0.3% now.

More in Australia, Private Sector Credit, value of new credit issued to consumers and businesses over the last month, 0.3% is predicted with no change from the previous time.

Later in Australia, Construction Work Done, construction industry important indicator to measure the in the total construction projects that were completed over the last quarterly, decreases is predicted from 12.5% down to -0.6% now.

Finally in Australia, Housing Industry Association (HIA) New Home Sales, measure the number of newly built homes that were sold over the last month, -4.9% is predicted with no change from the last month.

For more on the Aussie, read the  AUD/USD forecast.

In New Zealand, NBNZ Business Confidence, is a Businesses’ Monthly Survey to rate the financial outlook, about to indicate pessimism with 16.9 points similar to the last report.

For more about the kiwi, see the NZD/USD forecast.

In Japan, Household spending is due to reduce from 0.5% down to -0.7% this month.

More in Japan, Tokyo Core Consumer Price Index (CPI), is about to remain -0.4% like on the last month report.

Read more about the yen in the USD/JPY forecast.

That’s it for today.

Happy forex trading!

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