Fed Chairman Bernanke Testifies in the US and Manufacturing PMI in the UK are the major market-movers. Let see what awaits us today.
In the US, Ben Bernanke, Federal Reserve Chairman is due to Testify in Washington DC.
More in the US, Unemployment Claims, value who filed for the first time for unemployment insurance over the last week, decreases is predicted from 351K down to 349K this time.
Moreover in the US, The Institute for Supply Management (ISM) Purchasing Managers’ Index (PMI) Manufacturing, Monthly Survey to rate the business conditions such as inventories and supplier deliveries, industry expansion and growth of 0.5 points from the last month up to 54.6 points.
Later in the US, Personal Spending accounts for a overall financial activity and value all expenditures by consumers, growth of 0.4% is predicted from the last month.
Later on in the US, Core Personal Consumption Expenditures (PCE) Price Index, monthly report to measure the consumers’ price change of goods and services (not included Energy and Food), 0.2% is predicted with no change from the previous month.
Also in the US, Sarah Bloom Raskin, Federal Reserve Governor is about to speak in Connecticut.
Finally in the US, Dennis Lockhart, Federal Reserve Bank of Atlanta President is due to lecture in Atlanta
In Canada, Current Account, quarterly measurement to value the difference in between imported and exported goods, services etc., rise is predicted from -12.1B on the last report to -9.4B.
More in Canada, Raw Materials Price Index (RMPI), consumer inflation indicator to rate the manufacturers’ price change of raw materials due to rise up by 2.4% this month.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Unemployment Rate, monthly measurement to value (by percentage) all the unemployed that are looking for jobs, 10.4% is predicted similar to the last month report.
More in Europe, European Union (EU) European Central Bank (ECB) Summit (Day I), the Heads of state are about to meet in Brussels regarding various monetary issues.
Later in Europe, Consumer Price Index (CPI) Flash Estimate, consumers’ price change for goods and services, 2.6% is forecasted with no change from the last month report.
Finally in Europe, Final Manufacturing Purchasing Managers’ Index (PMI); Monthly Survey to rate the business conditions like supplier deliveries, new orders and more, due to remain 49 points similar to the last month survey.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain, Manufacturing Purchasing Managers’ Index (PMI); Survey to value the over the last month including production, employment, new orders and so on, drop down from 52.1 points on January to 51.9 points is estimated now.
More in Great Britain, David Miles, External Bank of England (BOE) Monetary Policy Committee (MPC) Member; is due to speak in London
Finally in Great Britain, Nationwide House Price Index (HPI), value the selling price change of homes with mortgages financed by Nationwide, growth from -0.2% up to 0.3% is expected this month.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Gross Domestic Product (GDP), quarterly report to value all goods and services of the economy’s production, reduce is predicted from 0.2% down to -0.1%.
More in Switzerland, Schweizerischer Verband fur Materialwirtschaft und Einkauf (SVME) Purchasing Managers’ Index (PMI), Survey to rate the business conditions like employment, new orders, prices, inventories and so on, growth is expected from 47.3 point on January up to 48.6 points now.
Read more about the Swiss franc in the USD/CHF forecast.
In Australia, Building Approvals, monthly report to rate the number of new building approvals issued, growth is predicted from -1.0% on the last report up to 2.1% this month.
More in Australia, Private Capital Expenditure, value of private businesses’ new capital expenditures over the last quarter, due to drop down from 12.3% to 3.5%.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Household Spending, value of all expenditures by consumers over the last month, decreases is predicted from 0.5% on January down to -0.7% this time.
More in Japan, Tokyo Core Consumer Price Index (CPI), value the consumers’ price change of goods and services Tokyo (without fresh food), -0.4% is forecasted similar to the last month report.
Read more about the yen in the USD/JPY forecast.
That’s it for today.
Happy forex trading!
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