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We start the week with some interesting events like Personal Spending in the US and EU Economic Summit in Europe as the main highlight on today’s outlook. Let’s see what awaits us today.

In the US, Personal Spending, monthly value of all consumer’s inflation-adjusted, is about to rise by 0.1% up to 0.2%. And similar rise is predicted in the Personal Income of 0.3% up to 0.4%.

More in the US, Core Personal Consumption Expenditures (PCE) Price Index, measures the consumer’s price change of goods and services (without food and energy), due to remain 0.1% like on the previous month.

In Europe, European Union (EU) Economic Summit, Heads of state are predicted to meet regarding the Eurozone crisis, in Brussels.

More in Europe, German Prelim Consumer Price Index (CPI), monthly indicator to value the consumer’s price change of goods and services, drop down is forecasted down to -0.4% from 0.7% in December.

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

In New Zealand, Building Consents, primary gauge of upcoming construction, measures the new building approvals issued over the last month, due to remain  -6.4%.

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

In Japan, Prelim Industrial Production, value the future manufacturer’s output over the last month, is about to rise from -2.7% on December up to 2.6%.

More in Japan, Unemployment Rate is due to remain 4.5% similar to the previous month.

Finally in Japan, Manufacturing Purchasing Managers’ Index (PMI), is about to remain 50.2 points.

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

That’s it for today.

Happy forex trading!