US Unemployment Claims and Trade Balance followed by Canada’s Trade Balance highlight this day’s events. Let’s see what awaits us today.
In the US, Unemployment Claims are expected to continue decreasing from 453K to 447K which is a good sign for the US market.
Later in the US, Trade Balance shows the opposite inclination expected to increase its balance of trade deficit by $400,000,000 from 40.4B in May. Federal Budget Balance is also expected to drastically increase its deficit exceeding May’s report by 55.9B reaching -138.6B may be caused by foreign aid plans.
In Canada, Trade Balance is expected an improvement of 0.4B following May’s decline reaching a balance of trade surplus equivalent to 0.7B.
More in Canada, BOC Governor Mark Carney speaks at the 35th International Organization of Securities Commissions (IOSCO) Annual Conference, in Montreal may provide insight on interest rates policy.
Finally in Canada, New Housing Price Index is expected to remain 0.3% as in May’s report.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, ECB President and Vice President are holding a press conference where current and future monetary policy will be discussed.
Also in Europe, European Central Bank is likely to once again leave its minimum bid rate at 1.00%.
Later in Europe, French Industrial Production is expected to drop by 0.3% from 1.0% in May.
In Great Britain, Asset Purchase Facility measuring the total value of money the BOE will create and use to purchase assets in the open market is expected to remain 200B as in the previous month and the Official Bank Rate is also due to stay 0.50% without change.
Read more about the Pound in the GBP/USD forecast.
In Australia, Employment Change is expected to reach 16.1K which is 17.6K lower than in May however can still have valuable positive influence on the market.
More in Australia, Unemployment Rate will probably remain 5.4% as in May presenting an overall positive indicator on the Australia’s job growth.
Finally in Australia, RBA Governor Glenn Stevens speaks at the Western Sydney Business Connection, in Castle Hill may affect currency and provide clues to future monetary policy and MI Inflation Expectations will probably remain around 3.6%.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Alan Bollard Governor of the Reserve Bank of New Zealand testifies about monetary policy before the Parliament’s Finance and Expenditure Select Committee, in Wellington. This could have a strong effect on the currency.
That’s it for today. Happy forex trading!
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