American Core Durable Goods Orders will be in the limelight today, but there are many more important releases around the globe: German Ifo Business Climate, British CBI Realized Sales and American Home Sales will also draw attention. Let’s review all the events.
New Zeland starts the day with Westpac Consumer Sentiment. Last quarter, it stood on 101.3. NZD/USD showed great strength lately. Later in Australia, RBA Governor Glenn Stevens will speak about the financial system.
In Europe, the German Ifo Business Climate will get a lot of attention. Expectations are for a stable figure of 82.2 after last month’s 82.6. This will significantly impact the EUR/USD.
Also Britain brings a strong figure: CBI Realized Sales is expected to drop to -35, from -25. A bad figure could knock the Pound back down, after its recent gains.
At 12:30 GMT, the main release of day happens: Ameican Core Durable Goods Orders are expected to fall by 2% showing more trouble for the American economy. Also the non Core figure, Durable Goods Orders is expected to fall by 2.2%.
An hour and a half later, New Home Sales are officially expected to show a figure of 305K, similar to last month’s 308K. After Monday’s good Existing Home Sales, a better figure won’t be a big surprise.
Federal Reserve Bank of San Francisco President Janet Yellen will talk about economy and policy, and might shed light on the next moves of the Federal Reserve, that has been very active.
Near the end of the day, New Zealand’s Current Account will be published. It’s expected to show a deficit of $4 billion.
And just before the day ends, Australia’s monthly CB Leading Index will be published.
Happy Forex Trading!
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