Personal Consumption Expenditures in the US and Economic Confidence in Europe are the major events this day. Here is an outlook on the market-movers awaiting us.
In the US, Personal Consumption Expenditures Similar to Consumer Price Index measuring changes in prices of consumer supplies and services is expected to reduce by 0.1% to 0.5%, and to 1.8% on the Price Index. Meanwhile the Core Personal Consumption is expected to rise by 1% both here and on the Price Index.
More in the US, Pending Home Sales measuring the number of contract activity in houses sold including prices affecting mortgage rates. A major indicator of economic conditions. reduce of 6.1% and -1% is expected now.
Later in the US, Personal Income, measures an individual’s total annual gross salary earnings an indicator of consumer spending is about to reduce by 0.1% and 0.4% is expected now.
Finally in the US, University of Michigan Consumer Sentiment Index, evaluates consumer confidence in personal funds, business conditions and consumption based on surveys. Conducted by the University of Michigan. The major indicator of consumer sentiment, rise of 2.6 points and 7.8 points are expected now.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Economic Confidence a monthly marker of the Euro-zone consumer confidence based on a survey of customers on economic conditions an indicator of future economic trends. 106.2 points are forecasted.
More in Europe, Industrial Confidence (Euro-zone) Measuring of industrial sector confidence in the Euro-zone based on a survey among industrial management asking about production expectations an indicator of economic conditions. 58 points are forecasted.
Also in Europe, Consumer Price Index (CPI) measures the cost of living by comparing basket of goods and services including volatile components, is likely to reduce by 0.2% on the monthly report. and be 2.4% on the yearly.
Finally in Europe, M3 Money Supply, measures the entire amount of currency circulating in the country an indicator of inflation. Is due to rise by 0.2% to 2.5%.
For more on the Euro, read the EUR/USD forecast.
In Great Britain, Nationwide Housing Price Index (HPI), the UK monthly average houses prices with mortgage. Affects directly the GBP as positive (bullish) with 1% after a rise of 0.2% on the monthly report and negative (bearish) with -1.3% on the yearly.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, KOF Leading indicator (Economic Barometer) Measuring the level of a composite index comprised of 25 economic indicators an indicator of future trends in the economy. 2.24 points are expected now.
That’s it for today. Happy forex trading!Get the 5 most predictable currency pairs