PPI in the US and RBNZ Rate Statement in New Zealand are the main events today. Here is an outlook on the market-movers awaiting us
In the US, Retail Sales, consumer spending monthly indicator to measures the total sales at the retail level and shows the overall financial activity, is about to reduce from 0.1% on May down to -0.1% this time. Meanwhile no change is predicted in the Core Retail Sales (not including autos) and 0.1% is due to remain.
Later in the US, Producer Price Index (PPI); consumer inflation important indicator to value the producer’s price change for finished goods and services, due to further reduce from -0.2% on May down to -0.6%. While on the Core PPI (without food and energy) 0.2% is likely to remain similar to the last month report.
Later on in the US, Business Inventories, future business spending signal that value all manufacturer’s goods that are held in inventory by, rise of .1% is likely up to 0.4%.
Finally in the US, Crude Oil Inventories, value the commercial firm’s crude oil barrels that are held in inventory over the last week, further reduce is predicted down to -1.4M this time from -0.1M on the last report.
In Europe, Industrial Production, shows the manufacturer’s total value of output, is about to continue dropping down from -0.3% on May to -0.9% now.
For more on the Euro, read the Euro to dollar forecast.
In Switzerland, Producer Price Index (PPI); measures the manufacturer’s price change regarding goods and raw materials, drop of 0.2% from May is likely down to -0.1% this time.
Read more about the Swiss franc in the USD/CHF forecast.
In Australia, Westpac Consumer Sentiment, no change is estimated from the last month survey and 0.8% is due to remain.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand,Reserve Bank of New Zealand (RBNZ);Rate Statement, the main tool that RBNZ uses for communicating with investors regarding monetary policy, their decision on interest rates and discusses the financial outlook. Its follows by the RBNZ Monetary Policy Statement and the RBNZ Press Conference, while on the Official Cash Rate 2.50% is estimated with no change from the last months.
For more about the kiwi, see the NZD/USD forecast.