On the last day of the week, there are two major US releases: CPI and Consumer Sentiment, among other figures. Let’s see what’s up for today:
German WPI started the day with a disappointing rise of only 0.2%. Yesterday’s final CPI figure compensates for it. The more interesting inflation release is later: CPI for the whole continent is expected to rise by 0.9%, confirming the initial read. Core CPI is expected to rise by 1%. The numbers are annualized.
For more on the Euro, read the EUR/USD forecast.
British CB Leading Index is due later. Britain probably got out of recession, at least according to the unofficial NIESR GDP estimate. This helps the Pound rise nicely. Read the British Pound forecast for more.
In the US, CPI is expected to show that prices continue to rise slowly: a rise of only 0.2% is predicted. Core CPI, which is no less important, is expected to rise by 0.1%.
The more interesting American release comes from the University of Michigan: Consumer Sentiment is predicted to edge up from 72.5 to 73.8 points, showing that Americans are more optimistic about the future.
Also in the US, the Empire State Manufacturing Index is predicted to rise from 2.6 to 11.2 points, Capacity Utilization Rate from 71.3% to 71.9% and Industrial Production is predicted to rise by 0.7%, similar to last month’s rise.
That’s it for this week. Happy forex trading!
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