US Pending Home Sales and Australia’s GDP are the major events this day. Let us see what awaits us today
In the US, Pending Home Sales is expected to drop from 5.3% to 4.8% after the upswing of March and April.
Later in the US, An increase of 200,000 in the Total Vehicle Sales from 11.2M in May indicating stronger consumer confidence in the US market.
Finally in the US, Challenger Job Cuts is expected another decline of -71.1% as in May’s report showing improving job prospects.
In Europe, Industrial Producer Prices are expected to rise by 0.7%, 0.1% more than in May’s report.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Halifax House Price Index is expected to rise by 0.3% compared to a drop of -0.1% in May giving a boost to the housing industry.
More in Great Britain, Construction PMI is expected to continue its growth for the third consecutive month reaching 58.3 points. This indicates recuperation in the construction sector and suggests that the whole UK economic recovery has real substance.
Later in Great Britain, Net Lending to Individuals is also expected to edge up 0.5B form April’s fall of 0.6B reaching 1.1B and Final Mortgage Approvals are also predicted to rise by 3,000 from May reaching 50K.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Swiss retail sales growth slows from 4.0% in March to 3.7% in April.
In Australia, Gross Domestic Product is anticipated to drop 0.3% from the impressive rise of 0.9% in the previous quarter reaching 0.6%. Nevertheless, Australia’s growth rate is still satisfactory.
More in Australia, AIG Services Index is expected to continue its rise of previous months after crossing the 50 point score in May report (52.3 points).
For more on the Aussie, read the AUD/USD forecast.
In Japan, Capital Spending continues to drop expecting to reach -9.5% this quarter however there is a major improvement from -17.3 in October-December and -24.8% the quarter before.
That’s it for today. Happy forex trading!
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