US CPI is expected to rise, the US, Federal Open Market Committee Meeting Minutes is released and Canada’s Wholesale Sales are also on the rise.Let’s see what awaits us today.
In the US, unlike the decrease of PPI index yesterday the CPI is expected to rise from 0.1% to 0.2% as well as the Core CPI which is foreseen to increase by 0.1% from 0.0% last month.
Later in the US, Federal Open Market Committee Meeting Minutes is released with a detailed record of the FOMC’s most recent meeting, providing in-depth insights into the economic conditions. This affects interest rates.
Also in the US, Crude Oil Inventories is expected a sharp drop from 1.9M last month to 0.6M which should affect inflation rates.
Finally in the US, Mortgage Delinquencies released quarterly, showing the number of mortgages delinquent with foreclosures is supposed to remain 9.47%.
In Canada, continuing the positive news from Canada, Wholesale Sales are expected to edge up from -1.2% to 0.3% indicating an increase in consumer’s spending.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, ECB President Jean-Claude Trichet speaks at the ceremony laying the foundation stone of the New ECB Premises, in Frankfurt. Will affect the Euro currency and provide clues for future monetary policy.
Later in Europe, Deutsche Bundesbank President Axel Weber speaks about the G20 agenda on financial regulation, in Berlin which will affect currency rates.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, MPC Meeting Minutes voted 9-0 to maintain rates the same vote of past months.
More in Great Britain, Chancellor of the Exchequer George Osborne speaks at the CBI Annual Dinner, in London used to signal policy shifts to the public and foreign governments.
Read more about the Pound in the GBP/USD forecast.
In Australia, RBA Assistant Governor (Economics) Dr. Malcolm Edey speaks at the Australian Retail Deposits Conference, in Sydney. Will affect the Euro currency and provide clues for future monetary policy.
More in Australia, Westpac Consumer Sentiment is expected to remain around -0.1% as in the previous month.
Later in Australia, Wage Price Index is expected to move up from 0.6% to 0.9% which is bound to affect inflation rates.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Prelim GDP measuring the change in the inflation-adjusted value of all goods and services produced by the economy is expected to rise from 0.9% to 1.4% indicating a healthy market activity while the Prelim GDP Price Index measuring the change in the price of all goods and services included in GDP is about to decrease from -2.8% to -2.9% indicating low inflation rates.
More in Japan, Revised Industrial Production is expected to rise from 0.3% to 0.4%,
That’s it for today. Happy forex trading!
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