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US Unemployment Claims decrease, Britain, Manufacturing Production expecting a rise and the Australian Employment Change and Unemployment Rate are changing. Here is an outlook on today’s events.  

In the US, Unemployment Claims, weekly report that measure the number of individuals who filed for unemployment insurance for the first time during the past week; droops down to 461K from 472K and affects the labor-market conditions;

Later in the US, Crude Oil Inventories a weekly US indicator that affects the loonie due to Canada’s sizable energy sector; and measures the change in the number of oil barrels held in inventory. It influences the price of petroleum products which affects inflation but also impacts growth due to produce goods;

In Canada, New Housing Price Index (NHPI); monthly report that measures the change in the selling price of new homes; is about to rise by 0.5% and attract investors and spur industry activity;

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

In Europe, European Central Bank (ECB); Press Conference with 2 parts – first a prepared statement is read, then the conference is open to press questions that create heavy market volatility. It covers in detail the factors that affected the most recent interest rate and other policy decisions,

Later in  Europe, European Central Bank (ECB); Minimum Bid Rate that measures the Interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system is on 1% and short term interest rates are the paramount factor in currency valuation – traders look at most other indicators.

Finally in Europe, A decrease of 1% is anticipated now in the German Industrial Production monthly report, that measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities; and affects the is correlated with consumer conditions such as employment levels and earnings;

For more on the Euro, read the  EUR/USD forecast and Casey Stubbs’  latest analysis.

Moving on to Great Britain, House Price Index (HPI), Halifax Bank of Scotland (HBOS); an influential rise is anticipated from -0.4% to 0.6%. It’s a leading indicator because rising house prices attract investors and spur industry activity;

More in Great Britain, Manufacturing Production monthly report that measures the total inflation-adjusted value of output produced by manufacturers; shows a rise from -0.4% to 0.6%. It’s correlated with consumer conditions such as employment levels and earnings;

Finally in Great Britain, Official Bank Rate at the Bank of England (BOE), Monetary Policy Committee (MPC); stays on 5%. When there is a change in rates the MPC will also issue a statement and be overshadowed by the MPC Rate Statement which is focused on the future. The short term interest rates are the paramount factor in currency valuation.

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

In Australia, Employment Change a monthly report that measures the number of employed people during the previous month; is about to droop down from 26.9K to 15.3K and as job creation is an important indicator its accounts for a majority economic activity;

Later in Australia, Unemployment Rate shows stability by 5.2%, monthly report that measures the percentage of unemployed that actively seeking employment during the previous month. It’s an important signal of overall economic health.

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

That’s it for today. Happy forex trading!

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