US Retail sales and Unemployment claims are the major events this week. Let see what awaits us today.
In the US, Retail Sales edged up 0.1% in April, better than the 0.3% contraction predicted by analysts and following a 0.5% fall in the previous month. Meanwhile Core retail sales, excluding automobiles decreased 0.1%, in line with predictions, following a 0.4% drop in March. This time a bigger gain of 0.4% is anticipated in retail sales and a 0.35 gain in ore sales.
More in the US, Unemployment Claims declined to 346,000 last week after a 357,000 addition in the preceding week. The figure was broadly in line with market predictions. A rise to 354,000 is expected this time.
Also in the US, Import Prices. Prices of imported goods declined 0.5% in April, as anticipated, after a 0.2% drop in March. A rise of 0.1% is expected now.
Further in the US, Business Inventories. The value of stored goods remained unchanged in March as in the previous month, while economists expected a 0.3% increase. A gain of 0.3% is predicted now.
Later in the US, Natural Gas Storage. The number of cubic feet of natural gas stored in underground reserves, increased to 111 billion last week, following 88 billion in the week before. The reading was higher than the 101 billion projected by analysts. A decline to 96 billion is expected this time.
In Canada, NHPI New Housing Price Index edged up 0.1% in March, in line with market forecast, following a 0.2% rise in February. A gain of 0.3% is expected this time.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, ECB Monthly Bulletin is released today. Information and statistical data upon which he ECB members based their rate decision.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain, Paul Tucker speaks. BOE Deputy Governor Paul Tucker will speak in Heksinki. Possible clues to future interest rate trends may be obtained.
Read more about the Pound in the GBP/USD forecast.
In New Zealand, Business NZ Manufacturing Index. NZ producers were more optimistic in April. The index increased to 54.5 from 53.4 in March. A similar figure is expected now.
More in New Zealand, FPI. Food Price Index edged up 0.2% in April following a 1.3% decline in March. A further rise is expected now.
For more about the kiwi, see the NZD/USD forecast.
In Japan, Monetary Policy Meeting Minutes will be released, revealing in-depth information on economic indicators that influenced the BOJ decision.
Read more about the yen in the USD/JPY forecast.
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