The forex market is still shaking from the FOMC statement that beat the US dollar. Today, A speech by Ben Bernanke will be closely listened to. In addition, there are a few other important indicators.
In Europe, Industrial Production is expected to fall by 3.8% after dropping 2.6% last month. A higher drop than expected could ease teh Euro’s gains. German PPI will be of interest – expcted to drop by 0.2%. In addition, Unemployment Rate in Italy will be watched.
In Canada, Retail Sales and Core Retail Sales are major to the loonie. Expectations are positive: a rise of 0.8% in Retail Sales, and of 0.4% in the Core figure. A bad figure could stop the fall of the USD/CAD.
At 16:00 GMT, Ben Bernanke, Chairman of the Federal Reserve, will speak about “The Financial Crisis and Community Banking“. This is the first speech he’ll give after shocking FOMC decision that spills money into the markets. This event, near the tiem that markets close, will close this mad week of price action in the forex market.
Happy Forex Trading!
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