Housing Starts in the US and CPI in the UK are the main events lined up. Let’s see what awaits us today.
In the US, Housing Starts, by the US Census Bureau and Housing Corporation that measures the amount of new buildings or homes that were built. Reduction of 21 K is expected now.
Later in the US, Building Permits, measuring the number of licenses for new building projects indicating future trends in the construction sector. Reduction of 4 K is expected now.
More in the US, Capacity Utilization, rate or operating rate exemplifying a percentage out of the 100% of potential output if the rate of production nears full capacity inflation rises. A rise of 0.2% is expected now.
Finally in the US, Industrial Production, measures changes of output in mining, manufacturing, construction and energy sectors in the US a strong indicator of industrial conditions. 0.4% is forecasted.
In Canada, Canadian investment in foreign securities, measuring the investments activities (cash market, shares and bonds) that are invested into foreign safeties, is about to be -2.55 billion. Meanwhile the Foreign investment in Canadian securities is due to rise by 1.87 billion.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, ZEW Economic Sentiment, (Zentrum für Europäische Wirtschaftsforschung), , a marker of the Euro-zone consumer confidence based on a monthly Survey of customers on economic conditions an indicator of future economic trends, . In Europe is about to be 17.9 points, in Germany 4.4 points and on the ZEW Current Situation is about to remain 87.1 points.
Finally in Europe, EcoFin Meeting (Economic and Financial Affairs Council) European Union Council key organization, for the main porpoise of covering, corresponding economic measures and their relation to the Euro and EMU.
For more on the Euro, read the EUR/USD forecast.
In Great Britain, CPI (Consumer price index) measures the cost of living by comparing basket of goods and services including volatile components, is likely to remain 0.3% on the monthly report and rise by 0.1% on the yearly level Meantime Core CPI excluding two volatile components food and energy provides a stable figure at the cost of disregarding two important sectors in the economy; this index figure is expected to rise by 0.2%.
More in Great Britain, House Price Index (HPI), measuring process of residential housing in the US indicating trends in prices and mortgages, is due to rise by 0.2% to 0.9%.
Later in Great Britain, Nationwide Housing Price Index (HPI), the UK monthly average houses prices with mortgage. Affects directly the GBP as positive (bullish) or negative (bearish). Is due to rise by 5 points.
Also in Great Britain, Retail Price Index, measuring the value of goods and services sold by manufacturers providing a major gauge of consumption and consumer confidence. 0.5% is expected on the monthly index and 5.3% on the yearly.
Read more about the Pound in the GBP/USD forecast.
In Australia, RBA Meeting Minutes (Reserve Bank of Australia), releases the minutes from the last Monetary Policy Committee meeting where interest rate is set. The minutes provide the reasons leading to this decision.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Producer Price Index (PPI) issued by the Australian Bureau of Statistics measures changes in prices of finished products a good indicator of consumer inflation. A rise of 0.3% to 0.5% is expected on the Output PPI and reduces of 0.3% to 0.6% is expected on the Input PPI.
In Japan, Tertiary Industry Index, by the Ministry of Economy, measures the domestic service sector in Japan. Reduction of 6.2% is forecasted now.
That’s it for today. Happy forex trading!
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