The new week starts with American Personal Spending among other figures from all over the world. Will EUR/USD resume the downtrend? Let’s see what will move the markets today:
Japan starts the day with Retail Sales. Thy’re predicted to rise by 1.7% (annualized), slower than last month’s 2.3% figure. On the other side of the day, Japan’s Household Spending will probably rise by 1.5% (annually), slower than 1.7% last time.
Japan’s unemployment rate isn’t expected to move from 4.9% that was reported last month. The last release in Japan is somewhat more important – the preliminary industrial production figure. This is expected to dip by 0.4% after rising by 2.7% last time.
In Germany, the different states will release the preliminary version of CPI during the day. Germany’s prices are expected to rise by 0.3%, less than last month’s 0.4% rise. Also in Europe, Consumer Confidence is expected to remain unchanged, at -17, exactly as last month.
In Britain, Net Lending to Individuals will probably ease to 1.8 billion after last month’s surprising rise to 2 billion. This figure usually moves the Poud.
Later in Britain, MPC member Spencer Dale will make a public appearance and might give some hints on next week’s rate decision. For more on the Pound, read the GBP/USD forecast.
In the US, Personal Spending is expected to rise by 0.4%, slightly slower than last month’s 0.5% rise. The personal income is predicted to rise by 0.1%, exactly like the previous month.
Also in the US, Core PCE Price Index will probably edge up by 0.1%. Treasury Secretary Timothy Geithner in a conference in Washington and might say something about the economy.
Another speech is due in Canada -BOC Senior Deputy Governor Paul Jenkins will speak in Toronto and might relate to USD/CAD parity, a subject that many Canadian officials like to refer to.Read more about the loonie in the Canadian dollar forecast.
Near the end of the day, New Zealand’s Building Consents are released. After a drop of 2.8% last month, a small rise is predicted this time. This will probably push the kiwi higher.
That’s it for today. Happy forex trading!
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