After Monday didn’t bring us much news but some fine breakouts, Tuesday has a wide range data, with British Manufacturing Production and a speech by Ben Bernanke as the highlights of the day. Let’s see what’s up.
Right at midnight GMT, the beaten British Pound will get more news: BRC Retail Sales Monitor and RICS House Price Balance will be released, with the latter expected to fall by 75.8%, mildly better than last month’s fall of 76.3%.
Australia’s NAB Business Confidence will be released in the early hours of the morning. Last time it fell by 32 points. Australia, despite a contracting economy, is still one of the world’s strongest economies.
Then, Europe will get attention with German Trade Balance and CPI, and later French Industrial Production, Trade Balance and Government Budget Balance. The Euro is sticking to a range. Maybe this data will move it.
Later on in Britain, Manufacturing Production change is expected to get better, falling “only” 1.5% this time, after last month’s 2.2% fall. After the British banks brought the pound down on Monday, this release could send the cable further down.
Ben Bernanke is due to speak about Financial Reform to Address Systemic Risk. Since audience questions are part of this session, he might encounter tough questions that could produce interesting answers.
Later in the US, IBD/TIPP Economic Optimism is expected to decline to 42.8 and Wholesale Inventories to squeeze by 1%.
And just before midnight GMT, Core Machinery Orders will be published in Japan. Orders are expected to dive faster than last time: -4.9% instead of 1.7%.
Happy Forex Trading!
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