US Building Permits and PPI are released, Federal Reserve Chairman Ben Bernanke speaks in New York and Capacity Utilization Rate is expected to grow. Let’s see what’s awaiting us today.
In the US, Building Permits expected to rise this month by 20,000 units following the unpredicted drop to 0.61M in the previous month while Housing Starts anticipated to drop by 20,000 reaching 0.65M.
Later in the US, Producer Price Index predicted to decrease from -0.1% to -0.5% and Core PPI also expected to drop from 0.2% to 0.1% ensuring low inflation rates.
More in the US, Federal Reserve Chairman Ben Bernanke speaks about “Financial Reform” at the Conference on the “The Squam Lake Report: Fixing the Financial System,” in New York. This can affect the currency.
Finally in the US, Capacity Utilization Rate expected to continue its consistent growth reaching 74.6% which may affect inflation rates in case of additional increase, Industrial Production is also expected to climb to 0.9% following the positive rise from previous month and Crude Oil Inventories predicted to increase by 0.3M from -1.8M in May.
In Canada, BOC Governor Mark Carney speaks at the Area Chamber of Commerce, in Charlottetown.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Consumer Price Index is expected to remain 1.6% as in May and the Core CPI is also anticipated to maintain 0.8%.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, BOE Governor Mervyn King speaks at the Mansion House, in London and may affect the currency.
More in Great Britain, Claimant Count Change measuring the change in the number of people claiming unemployment-related benefits during the previous month is expected to drop -23.2K which is 3,900 higher than the previous month.
Later in Great Britain, Average Earnings Index representing 3-month moving average expected to rise by 0.4% since May 4.0% indicating a rise in consumer inflation.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, ZEW Economic Expectations a survey rating relative 6-month economic outlook for Switzerland is expected to remain around 40.5 points.
In Australia, MI Leading Index is hoped to maintain the rating of 0.9% as in the previous month.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Bank of Japan Monthly Report is issued may affect interest rates and provide information regarding future monetary policy.
That’s it for today. Happy forex trading!
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