Another month comes to end. This time it’s with a bang! American Advance GDP for the second quarter is causing anxiety all over the globe. Also watch out for the Canadian GDP and other figures. Let’s see what’s up or today.
Australian Private Sector Credit is expected to rise by 0.1% after falling by 0.1%. AUD/USD got many figures this week…
In Europe, CPI Flash Estimate isn’t predicted to bring a smile upon European economists’ faces. Prices are expected to fall by 0.4% (annually adjusted). Deflation is strong.
The all-European Unemployment Rate will also be published today, and is expected to rise from 9.5% to 9.7%. This will put pressure on Jean-Claude Trichet and the ECB.
Swiss KOF Economic Barometer is an important gauge for the economy. It’s predicted to rise from -1.65 to 1.46 points.
At 12:30 GMT, American Advance GDP is predicted to fall by “only” 1.3%. After last quarter’s big contraction figure of 5.5%, this is optimistic. Barack Obama expressed optimism in a speech this week. Does he know something that we don’t know?
The accompanying figures to the GDP are Advance GDP Price Index and the Employment Cost Index which are both predicted to rise.
At the same time, Canadian monthly GDP is published. Here, the fluctuations are smaller. Canadian Gross Domestic Product is predicted to squeeze by 0.4%. Watch out for erratic shakes on USD/CAD at this time. For more on the loonie, check out the Canadian Dollar Outlook.
The last figure for the month is the Chicago PMI, predicted to rise above 40 points, to 42.1.
May your pips prosper!
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