U.S. Non-Farm Employment Change, Unemployment rate and Canadian Employment data are the highlight of this day .Here is a review of the coming events.
In the US, Non- farm payrolls, Monthly report that measures the number employees of all non-agricultural industries added 216,000 new jobs in March and is expected to decrease to 196,000.
Later in the US, Unemployment Rate the percentage of people actively seeking employment affecting consumer spending and indicating economic conditions dropped in March to 8.8%. It is expected to remain the same now.
Later on in the US, Credit Card Spending, measuring credit card expenditure indicating economic conditions increased to $7.62 billion in February and is expected to drop to 5 Billion.
Finally in the US, Average Weekly Hours indicator of labor cost inflation and markets, is expected to remain 34.3 while on the Hourly Earning is expected rise by 0.2% after being flat In March and on the yearly Earning 1.8% increase is forecasted following 1.7% increase in March.
In Canada, Net Change in Employment, measuring change in the number workers in Canada decreased 1,500 jobs in March and is expected to gain 20,000 new positions this time.
More in Canada, Unemployment Rate the percentage of people actively seeking employment affecting consumer spending and indicating economic conditions decreased to 7.7% in March and is expected to maintain this rate.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Industrial Production, Measures changes of output in mining, manufacturing, construction and energy sectors in Germany a strong indicator of industrial conditions gained 1.6% in February and is expected drop 1.1% to 0.5%. On A yearly base there was an increase of 14.8% in February and it is predicted to drop by 4.5% to 10.3%.
For more on the Euro, read the EUR/USD forecast.
In Great Britain, Producer Price Index (Input), based on a monthly survey measuring change in costs of products made by UK manufacturers and an indicator of inflation increased 0.9% in March, excepted to drop 0.2% to 0.7%. On a yearly base gained 5.4% and is predicted to drop 0.4% to 5.1%. Meantime Producer Price Index (Output), based on a monthly survey measuring change of prices of finished goods affecting retail prices climbed 3.7% in March and is forecasted a smaller gain of 1.6%. On a yearly base PPI increased 14.6% and is expected a further increase of 16.4%.
Finally in Great Britain, Mervyn King BOE governor is scheduled to speak in Helsinki. His words may affect the market.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Unemployment Rate measuring the percentage of people actively seeking employment and an indicator of economic conditions dropped to 3.4% in March. A further decrease to 3.3% is expected now.
In Australia, RBA Monetary Policy Statement examines economic and financial settings, determines the right monetary policy looking at risks to its long-term goals of price stability and keeping economic growth.
For more on the Aussie, read the AUD/USD forecast.
That’s it for today. Happy forex trading!
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