US Consumer Confidence is expected to continue its rise as well as Composite-20 HPI. US, Federal Reserve Bank of St Louis President James Bullard delivers a speech in London and House Price Index is expected to rise. Let us see what awaits us today.
In the US, CB Consumer Confidence is expected to continue its rise by 1.2 additional points following the remarkable score of 57.9 points in April which exceeded the forecast. Apparently US economic recovery is gaining pace.
Later in the US, S&P/CS Composite-20 HPI measuring the change in the selling price of single-family homes in 20 metropolitan areas is expected to increase by 2.5% following April’s increase of 0.6% means good news for investors and the housing industry.
More in the US, Federal Reserve Bank of St Louis President James Bullard delivers a speech titled “The Road to Economic Recovery Following the Financial Crisis” at the European Economics and Financial Center, in London. Expected to affect interest rates and may provide hints on future monetary policy.
Finally in the US, House Price Index is expected to reach 0.0% after April’s decrease of -0.2% and Richmond Manufacturing Index is foreseen a drop of 5 points from 30 points in April.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Industrial New Orders are hoped to increase by 2.3% following 0.8% more than in April.
Also in Europe, Italian Retail Sales are expected to remain 0.1% as in April.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Revised Gross Domestic Product, released monthly, is expecting an annualized growth of 0.3%, 0.1% more than in the previous quarter which is a hopeful sign for the British market.
More in Great Britain, BBA Mortgage Approvals are also hoped to increase by 3400 compared to 34.9 K in April indicates a rise in the housing market demand.
Finally in Britain, Index of Services measuring the change in the total Gross Value Added of the private and government services sectors is predicted to drop by 0.2% from 0.4% in April.
Read more about the Pound in the GBP/USD forecast.
In New Zealand, Inflation Expectations are assumed to remain unchanged from 2.7% in the previous quarter.
In Switzerland, UBS Consumption Indicator is also believed to remain around 1.71 points
In Japan, Monetary Policy Meeting Minute is released and shedding light on economic conditions that influenced interest rates decisions.
More in Japan, Corporate Services Price Index is expected to remain -1.1%.
That’s it for today. Happy forex trading!
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