Unemployment Claims and Existing Home Sales in the US are only a few of the highlights events. Let’s see what awaits us today.
In the US, Unemployment Claims, individuals who filed for unemployment insurance for the first time during the past week, is about to reduce by 23K. Important signal of overall economic health.
Later in the US, Existing Home Sales, number of residential buildings that were sold during the previous month, excluding new construction; is about to rise by 0.2M. Sale of a home triggers a wide-reaching ripple effect.
Later on in the US, Philly Fed Manufacturing Index, Survey of about 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level of general business conditions. Worsening conditions with 20.7 Points.
Finally in the US, Crude Oil Inventories, number of barrels of crude oil held in inventory by commercial firms during the past week; is about to rise by 1.1M. It influences the price of petroleum products which affects inflation.
In Canada, Leading Index, composite index based on 10 economic indicators; is about to rise by 0.1%.
More in Canada, Wholesale Sales, value of sales at the wholesale level; is about to rise by 0.3%. Retailers generally order more goods from wholesalers when they expect consumer sales to increase.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Producer Price Index (PPI), price of goods sold by manufacturers; is about to rise by 0.3%. It’s a leading indicator of consumer inflation – when manufacturers charge more for goods the higher costs are usually passed on to the consumer.
Also in Europe, ECB Monthly Bulletin, It reveals the statistical data that the ECB Governing Board evaluated when making the latest interest rate decision, and provides detailed analysis of current and future economic conditions from the bank’s viewpoint.
For more on the Euro, read the EUR/USD forecast
In Great Britain, CBI Industrial Order Expectations, Survey of about 550 manufacturers which asks respondents to rate the relative level of order volume expected during the next 3 months, indicates expectations are for lower volume; with -1 points. Primary gauge of consumer spending.
More in Great Britain, Prelim Mortgage Approvals, new mortgages approved for home purchases during the previous month, is about to rise by 1K. It’s a leading indicator of housing market demand.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, SNB Governing Board Chairman Philipp Hildebrand, Due to deliver a speech titled “The Swiss National Bank and the Financial Crisis” at the Club of Rome Forum, in Zurich.
More in Switzerland, ZEW Economic Expectations, Survey of institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Switzerland with -12.5 points.
In Australia, MI Inflation Expectations, price of goods and services to change during the next 12 months; is about to remain 2.8% like on the previous month. Expectations of future inflation can manifest into real inflation.
More in Australia, Import Prices, price of goods purchased by importers; about to rise by 0.2%. It contributes to inflation for businesses and consumers, especially those who rely heavily on imported goods.
For more on the Aussie, read the AUD/USD forecast.
That’s it for today. Happy forex trading!
Share
