Unemployment Claims in the US and much more exciting events. Let’s see what awaits us today.
In the US, Unemployment Claims, filed for unemployment insurance for the first time during the past week; is about to reduce by 9K.
Later in the US, Philly Fed Manufacturing Index, Survey of about 250 manufacturers in the Philadelphia Federal Reserve district to rate the relative level of general business conditions, indicates improving conditions with 29.9 points.
Later on in the US, Consumer Price Index (CPI), price of goods and services purchased by consumers; is about to rise by 0.1%. While the core CPI (excluding food and energy) is about to reduce by 0.1%.. Consumer prices account for a majority of overall inflation.
More in the US, Industrial Production, value of output produced by manufacturers, mines, and utilities; is about to rise by 0.8%. Correlated with consumer conditions such as employment levels and earnings.
Finally in the US, Capacity Utilization Rate, Percentage of available resources being utilized by manufacturers, mines, and utilities is about to rise by 0.5%.
in Canada, Foreign Securities Purchases, value of domestic stocks, bonds, and money-market assets purchased by foreigners during the reported month is about to reduce by 3.27B.
more in Canada, Wholesale Sales is about to rise by 0.1%. Retailers generally order more goods from wholesalers when they expect consumer sales to increase.
For more on USD/CAD, read the Canadian dollar forecast.
In Great Britain, Consumer Inflation Expectations, Survey of about 2,000 consumers, conducted by GfK, where they expect prices to be 12 months in the future; is due to be 3.9%. Expectations of future inflation can manifest into real inflation, primarily because workers tend to push for higher wages when they believe prices will rise.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Swiss National Bank (SNB Monetary Policy Assessment, the primary tool the SNB Governing Board uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it projects the economic outlook and offers clues on the outcome of future rate decisions.
Later in Switzerland, Libor Rate, London interest rate for 3-month Swiss franc deposits is due to remain 0.25%. Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future.
More in Switzerland, Industrial Production, value of output produced by manufacturers, mines, and utilities; is about to rise by 2.9%.
Finally in Switzerland, State Secretariat for Economic Affairs (SECO) Economic Forecasts, the federal government’s source of expertise for all core issues relating to economic policy and their forecasts are well respected by market participants.
In Japan, Monetary Policy Meeting Minutes, detailed record of the BOJ Policy Board’s meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates;
That’s it for today. Happy forex trading!
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