Chairman Ben Bernanke testify in Washington DC and the Unemployment Rate In Europe are some of the exciting events .Let’s see what awaits us today.
In the US, Federal Reserve Chairman Ben Bernanke, due to testify on the economic outlook before the Senate Budget Committee, in Washington DC and can influence over the nation’s currency.
Later in the US, Non-Farm Employment Change, number of employed people during the previous month, excluding the farming industry; is about to rise by 97K. Important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
Later on in the US, Unemployment Rate, Percentage of the total work force that is unemployed and actively seeking employment during the previous month is about to reduce by 0.1%. Important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
More in the US, Average Hourly Earnings, price businesses pay for labor, excluding the farming industry; is about to rise by 0.2%. When businesses pay more for labor the higher costs is usually passed on to the consumer.
Finally in the US, Federal Reserve Governor Janet Yellen, due to participate in a panel discussion titled “The Federal Reserve’s Asset Purchase Program” at the Andrew Brimmer Policy Forum on International Banking Economics & Finance Association, in Denver and can impact the nation’s key interest.
In Canada, Employment Change, number of employed people during the previous month; is about to rise by 5.1K. Leading indicator of consumer spending, which accounts for a majority of overall economic activity.
More in Canada, Unemployment Rate, total work force that is unemployed and actively seeking employment during the previous month is about to rise by 0.1%. important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Unemployment Rate, unemployed and actively seeking employment during the previous month is about to be 10.1, similar to the previous month.
Also in Europe, German Industrial Production, value of output produced by manufacturers, mines, and utilities is about to reduce by 3%. Correlated with consumer conditions such as employment levels and earnings.
For more on the Euro, read the EUR/USD forecast.
That’s it for today. Happy forex trading!
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