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Unemployment Claims in the US and GDP in Canada are only a few of today’s exciting events. Let’s see what awaits us today.

 In the US, Unemployment Claims, individuals who filed for unemployment insurance for the first time during the past week is about to droop down by 3K. Consumer spending is highly correlated with labor-market conditions.

Later in the US, Chicago Purchasing Managers’ Index (PMI), Survey of purchasing managers in Chicago to rate the relative level of business conditions indicates expansion with 70.2 points.

Finally in the US, Factory Orders, new purchase orders placed with manufacturers; is about to reduce by 2%. rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.

In Canada, Gross Domestic Product (GDP), all goods and services produced by the economy is about to remain 0.5%. The broadest measure of economic activity and the primary gauge of the economy’s health

For more on USD/CAD, read the  Canadian dollar forecast.

In Europe, European Central Bank (ECBPresident Jean-Claude Trichet, due to participate in a panel discussion at the G20 Reshaping the International Monetary System Seminar Organised by France 2011 and the China Center for International and Economic Exchanges, in Nanjing.

Also in  Europe, German Retail Sales, excluding automobiles and gas station is due to remain 0.4%. Primary gauge of consumer spending, which accounts for the majority of overall economic activity.

More in Europe, German Unemployment Change, number of unemployed people during the previous month; is about to reduce by 29K.

Finally in Europe, Consumer Price Index (CPI) Flash Estimate, price of goods and services purchased by consumers is about to droop down by 0.1%.

For more on the Euro, read the  EUR/USD forecast.

In Great Britain, Nationwide House Price Index (HPI), selling price of homes with mortgages backed by Nationwide; is about to reduce by 0.4%.

More in Great Britain, BOE Credit Conditions Survey of bank and non-bank lenders which asks respondents to rate the relative level of credit conditions in the past 3 months and next 3 months.

Finally in Britain, GfK Consumer Confidence, Survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions including personal financial situation, climate for major purchases, and overall economic situation, indicates pessimism with -29 points.

Read more about the Pound in the  GBP/USD forecast.

In Switzerland, Retail Sales excluding automobiles and gas stations, the primary gauge of consumer spending, which accounts for the majority of overall economic activity is about to rise by 1.3%.

More in Switzerland, Schweizerischer Verband fur Materialwirtschaft und Einkauf (SVME), Purchasing Managers’ Index (PMI); Survey of about 200 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; indicates industry expansion with 62.2.

For more on the Aussie, read the  AUD/USD forecast.

In New Zealand, NBNZ Business Confidence, Survey of about 1,500 businesses which asks respondents to rate the relative 12-month economic outlook, indicates optimism with 34.5.

In Japan, Tankan Manufacturing Index, Survey of about 1,200 large manufacturers which asks respondents to rate the relative level of general business conditions; indicates improving conditions with 6 points.

Late in Japan, Tankan Non-Manufacturing Index, Survey of about 1,200 large businesses which asks respondents to rate the relative level of general business conditions, indicates improving conditions with 2 points.

Finally in Japan, Average Cash Earnings, total value of employment income collected by workers is about to rise by 0.1%.

That’s it for today. Happy forex trading!