Durable Goods Orders in the US and GfK Consumer Confidence in Europe are the main events today. Here is an outlook on the market-movers awaiting us
In the US, Durable Goods Orders, by the US Census Bureau that measures manufacturers’ orders price of durable goods is about to reduce by 1% while the Core Durable Goods Orders (ex-Transportation) is forecasted to reduce by 0.4% now.
Later in the US, MBA Mortgage Applications, weekly index measures home loan demand a leading indicator of home sales is expected now to remain 7.8%.
Finally in the US, EIA Crude Oil Stocks Change (Energy Information Administration), inventories and indicator of oil demand and rates.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, GfK Consumer Confidence based on a survey of consumers inquiring about economic activity a good indicator of economic strength 5.7 points is expected now.
More in Europe, Jean-Claude Trichet, President of the European Central Bank is about to deliver a speech.
For more on the Euro, read the EUR/USD forecast.
In Great Britain, Gross Domestic Product (GDP), the broad measure of the UK economic activity, total value of all goods and services produced by the Eurozone. Is expected to be 1.5% on the yearly level and -0.5% on the quarterly.
Later In Great Britain, Total Business Investment measuring the total quantity of capital expenses made by private businesses in the UK. 12.2% is expected now on the yearly report and 2.4% on the quarterly.
More in Great Britain, BBA Mortgage Approvals (British Bankers’ Association), a leading gauge of UK Housing Market affecting overall economy condition is expected now to rise to 32.2K.
Read more about the Pound in the GBP/USD forecast.
In Australia, Consumer Inflation Expectation, measuring the consumer prospects of future inflation for the next 12 months. 3.5% is forecasted now.
More in Australia, Construction Work Done, Australian key construction indicator to measure the work done by construction in the last month. 1.5% is likely now
Finally in Australia, Conference Board Australia leading Index measuring upcoming trends of economic activity containing employment data, housing data and stock prices forecasting economic growth.0.6% is expected now.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Masaaki Shirakawa, Band of Japan Governor is due to deliver a speech.
More In Japan, Corporate Service Price Index, measuring prices of services bought by companies considered a major indicator of inflation, a rise of 0.2% is expected now.
Finally in Japan
That’s it for today. Happy forex trading!Get the 5 most predictable currency pairs