FOMC Member Kocherlakota Speaks in the US, Housing Starts in Canada and much more interesting news coming up .Let’s see what awaits us today.
In the US, Federal Reserve Bank of Philadelphia President Charles Plosser, due to speak about the economic outlook at the Risk Management Association, in Philadelphia. Audience questions expected and can affect the nation’s key interest rates.
Later in the US, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota, due to speak at the Wisconsin Banker’s Association Annual Luncheon, in Madison. Audience questions expected.
Later on in the US, Investor’s Business Daily (IBD), TechnoMetrica Institute of Policy and Politics (TIPP); Economic Optimism, Survey of about 900 consumers which asks respondents to rate the relative level of economic conditions including six-month economic outlook, personal financial outlook, and confidence in federal economic policies, indicates pessimism with 47.1 points.
Finally in the US, Wholesale Inventories, goods held in inventory by wholesalers is about to reduce by 0.8%. Signal of future business spending.
In Canada, Housing Starts, new residential buildings that began construction during the previous month; is about to reduce by 9K. building construction produces a wide-reaching ripple effect.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, French Gov Budget Balance, value between the central government’s income and spending for the year-to-date is about to be 133.1 B, similar to the previous month and indicates a budget surplus.
For more on the Euro, read the EUR/USD forecast.
In Great Britain, British Retail Consortium (BRCShop Price Index, goods purchased at BRC-member retail stores; is about to be 2%., similar to the previous month. Leads the government-released consumer inflation data by about 10 days,
Read more about the Pound in the GBP/USD forecast.
In Australia, Home Loans, new loans granted for owner-occupied homes; is about to reduce by 1%. Most homes are financed, so it provides an excellent gauge of how many qualified buyers are entering the market
For more on the Aussie, read the AUD/USD forecast.
In Japan, Leading Indicators, Combined reading of 12 economic indicators related to employment, production, new orders, consumer confidence, housing, stock prices, money supply, and interest rate spreads is about to rise by 3.7%.
More in Japan, Current Account, value between imported and exported goods, services, income flows, and unilateral transfers during the reported month; is about to reduce by 0.47T.
Finally in Japan, M2 Money Stock, total quantity of domestic currency in circulation and deposited in banks is about to remain 2.6% like on the previous month. It’s positively correlated with interest rates
That’s it for today. Happy forex trading!
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