US retail sales, US PPI and Japan’s rate decision are the main events on this busy day. Let’s see what awaits us now.
In the US, Retail Sales measuring the value of manufacturer’s sales indicator of consumer spending increased in April by 0.5% in line with expectations but 0.4% behind the previous month. While Core retail sales increased by 0.6% in April 0.1% less than expected and 0.6% lower than in the previous month. Retail sales is expected to drop by 0.3% while Core retail sales is predicted to gain 0.3%.
Later in the US, Producer price index measuring the selling price of products indicating inflation increased by 0.8% in April above 0.6% gain predicted. In the mean time Core PPI excluding food and energy also rose more than predicted by 0.3%. PPI is expected a small rise of a mere 0.1% and Core PPI is predicted 0.2% increase.
Finally in the US, Business Inventories measuring the value of stored products increased by 1.0% in March and is expected a smaller increase of 0.9%.
In Canada, Capacity Utilization Rate measuring the potential output available to manufacturers and an indicator of inflation increased by 0.2% to 76.4% in the 4th quarter of 2010 and is expected to increase to 77.0% in the first quarter of 2011.
More in Canada, Mark Carney Governor of the BOC is expected to speak. His words may provide info regarding future monetary policy and rate related issues.
For more on USD/CAD, read the Canadian dollar forecast.
In Great Britain, CPI, Inflation increased by 0.5% in April reaching 4.5% while economists predicted 4.2%. The same rate of 4.55 is expected now Consumption products (RPI) decreased in April by 0.1% to 5.2% and is predicted to increase by 0.1% to 5.3%.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, State Secretariat for Economic Affair – Economic Forecasts releases the main factors of GDP and have a trustworthy indication in the market.
Read more about the Swiss franc in the USD/CHF forecast.
In Australia, NAB Business Confidence the Australian National bank release decreased by 2 points in April to 7 from 9 in the previous month. The same figure is likely to remain.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Retail sales dropped in the last quarter of 2010 by 0.1% while Core retail sales remained flat. Retail sales is predicted to gain 1.0% while Core retail sales is exp to gain 0.7%.
For more about the kiwi, see the NZD/USD forecast.
In Japan, rate decision followed by the BOJ press conference and monetary policy statement maintained rates at 0.1% and are likely to continue with the same rate to avoid harming the fragile economy. These events are likely to affect the yen.
More in Japan, Revised Industrial Production plunged by 15.5 in March from the previous month following the March 11 disasters. A small rise is expected.
Read more about the yen in the USD/JPY forecast.
Happy forex trading
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