German ZEW Economic Sentiment and US Building Permits are the main events lined up. Let’s see what awaits us today.
In the US, Building Permits, an important indicator for future construction activity measuring the value of new residential building permits, dropped to 0.72M in April from 0.77M in March. A rise of 0.1M to 0.73M is predicted now.
In theUS, Housing Starts The annual total of new residential construction increased more than expected in April to 0.72M from 0.70M in the previous month. Economists expected a decline to 0.69M. Another rise to 0.73M is anticipated this time.
In Canada, Wholesale Sales value increased 0.4% in March in line with predictions, following 1.5% leap in February. A rise of 0.6% is predicted this time.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Economic Sentiment, Monthly Survey of German institutional investors rating the 6 month monetary outlook for Germany, plunged to10.8 in May form23.4 in the previous month amid growing concern over the Greek debt crisis. Another fall to 3.6 is predicted now.
More in Europe, ZEW Economic Sentiment for the Euro-zone, was worse than the German Economic Sentiment plunging to -2.4 from13.1 in April. Sentiment is expected to decline further to -5.7.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain Consumer Price Index (CPI); the consumers price change for goods and services due to remain 3.0% the same as on May’s report, while the Core CPI (without alcohol, volatile food, energy and tobacco items) is about to rise up by 0.2% to 2.3% from the last month. And reduce of 0.2% is predicted in the Retail Price Index (RPI) down to 3.3%.
Later in Great Britain, House Price Index (HPI); measures the selling price of homes is about to rise up from -0.4% on May to 0.3%.
More in Great Britain, Retail Price Index measuring consumption related purchases reached 3.5% in May following 3.6% in April, a decline to 3.3% is expected now.
Finally in Great Britain, BOE Quarterly Bulletin will be released showing detailed reports on major economic indicators including commentary in monetary policy.
Read more about the Pound in the GBP/USD forecast.
In Australia, Monetary Policy Meeting Minutes, Records of the Reserve Bank of Australia (RBA) most recent Board’s meeting, to show the economic conditions that influenced their interest rates decisions.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Current Account Deficit narrowed in the fourth quarter of 2011 to -2.76 billion from 4.75 billion deficit in the third quarter. A further improvement to a deficit of 1.16 billion is expected now.
For more about the kiwi, see the NZD/USD forecast.
In Japan, Monetary Policy Meeting Minutes provides a detailed account of the factors which led to the recent rate decision
Later in Japan, Trade Balance deficit shrank in April to 480,000 billion from 620,000 billion in March. Economists expected a smaller decline to600,000. A decrease to -360,000 billion is expected now.
Read more about the yen in the USD/JPY forecast.
Trade wellGet the 5 most predictable currency pairs