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The forex trading week starts without American indicators. Still,  German Ifo Business Climate will stand out today, and other events will also shake the market. And do note the Iran election crisisthat looms over the market. Here’s what’s up for today:

Britain’s  Rightmove HPI starts the forex trading week. Last month it rose by 2.4%. GBP/USD is awaiting an interesting week. Read my special coverage – British Pound Outlook.

In Japan, the  BSI Manufacturing Index is published early in the week. Last time it stood on -66. The more interesting figure is the  Tertiary Industry Activity which is predicted to turn positive and rise by 2.3% after falling by 4%.

In Europe,the  German Ifo Business Climate is a highly regarded indicator for the German economy and for the whole continent. It’s expected to continue the small rise and proceed to 85.1. This will shake the Euro.

Later in Europe, ECB President Jean-Claude Trichet will speak in Madrid. This time, no big surprises are expected.

In Canada,  Foreign Securities Purchases are published and are expected to squeeze to 4.27 billion. For more on the loonie, check out the Canadian Dollar Outlook.

For those of you that don’t find big indicators today, don’t worry – the week gets much more interesting later on, especially with Wednesday’s FOMC Statement. Check out the Forex Weekly Outlook for more details.

Happy forex trading!