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American TIC Long-Term Purchases, Canadian Rate Decision and German ZEW Economic Sentiment are the major market movers on out list. Here is an outlook on the main events today.

In the US, TIC Long-Term Purchases measuring the difference in value between foreign long-term securities purchased by US citizens and US long-term securities purchased by foreigners plunged in October to 27.6B when 82.3B was expected. The balance is expected to reach 43.4B for November period.

More in the US, Empire State Manufacturing Index surveys manufacturers in New York State   edged up to 10.6 in December well above the   4.7 expected . This leading indicator of economic health is forecasted to rise further to 12.6.

In Canada, Overnight Rate was maintained at 1.0% by the BOC in December following a moderate growth and is likely to leave Overnight Rate at 1.0%. The BOC Rate Statement will provide important information regarding the causes for their decision and regarding future monetary policy.

For more on USD/CAD, read the  Canadian dollar forecast.

In Europe, German ZEW Economic Sentiment a major indicator of economic health climbed more than expected to 4.3 in December. Analysts predicted a 3.8 score. This survey of German institutional investors about economic outlook for Germany is expected to continue its grow to 6.5 this month.

More in Europe, ZEW Economic Sentiment a major indicator of economic health for the Euro-Zone also grew beyond expectations to 15.5 in December while analysts expected 10.3. This index is predicted another climb to 17.3 this month signaling growing optimism among European investors.

The Economic and Financial Affairs Council (ECOFIN) Meetings is attended by Finance Ministers from EU member states. They discuss a range of financial issues, such as euro support mechanisms and government finances. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering meeting objectives may be released after the meetings have concluded. Their decisions can have a widespread effect on the Eurozone’s economic health

In Great Britain, Consumer Price Index  (CPI) was better than expected in November, grew by 3.3% from 3.2% in the previous month. Analysts had expected a drop to 3.1%. The Same increase of 3.3% is expected now.

More in Great Britain, Retail Price Index (RPI) measures inflation in the household consumption products grew by 4.7% more than 0.3% expected following 4.2% in the prior month. A rise to 4.8% is expected now.

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

In Australia, Westpac Consumer Sentiment measuring the change in the level of a diffusion index based on surveyed consumers gained 0.2% in December following 5.3% drop in November. A similar rise is likely to occur.

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

In Japan, Tertiary Industry Activity A major indicator of economic health measuring change in the total value of services purchased by businesses.clinbed 0.5% in November following a drop of 0.8% in the prior month. A further rise of 0.6% is expected now.

That’s it for today. Happy forex trading!