US Federal Reserve Bank of Kansas President Thomas Hoenig delivers a speech in Kansas City, Federal Reserve Governor Elizabeth Duke speaks in Hollywood, US IBD/TIPP Economic Optimism and Canada’s Housing Starts are among today’s major activities.
In the US, Federal Reserve Bank of Kansas President Thomas Hoenig delivers a speech titled “Farming, Finance and the Global Marketplace” at the 2010 Agricultural Symposium, in Kansas City and Federal Reserve Governor Elizabeth Duke speaks about “Moving Beyond the Financial Crisis” at the Consumer Bankers Association Conference, in Hollywood.
Later in the US, IBD/TIPP Economic Optimism is expected to continue its rise reaching 49.3 points exceeding May’s reading by 0.6 points and getting close to the 50 point line.
In Canada, Housing Starts are also intended to rise from 201K to 203K providing encouraging news for the building industry.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Industrial Production is expected to grow by additional 0.3% above the rise of 0.4% in May. This is a sharp rise which exemplifies the ongoing recovery in the German market.
Also in Europe, German Trade Balance is foreseen a balance of trade surplus equivalent to 14.1B which is 200,000K less than the previous month.
Later in Europe, French Trade Balance deficit is predicted to decrease by 400,000,000 from -4.7B in May and hopefully continue this positive trend.
Finally in Europe, French Gov Budget Balance deficit is rising again after the sharp decrease in March report. It reached -28.9B in May.
In Great Britain, Nationwide Consumer Confidence is expected to gain 4 more points following May’s decrease reaching 78 points. This will hopefully help Britain Get Back on Track.
More in Great Britain, BRC Shop Price Index is likely to remain 2.0% as in May, stabilizing shop price inflation.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, CPI is expected to slide down to 0.1% from the unexpected pick of 0.9% in May, closer to its usual average.
More in Switzerland, Unemployment Rate is expected to remain unchanged reaching 4.0%.
In Australia, NAB Business Confidence is likely to remain around 13 points as in the previous month
For more on the Aussie, read the AUD/USD forecast.
In Japan, Core Machinery Orders are expected to plunge to 1.2% following the rise of 5.4% in May.
More in Japan, Leading Indicators is expected to rise by 0.1% reaching 102.8%.
That’s it for today. Happy forex trading!
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