We start the week with interesting news in the Us, ISM Manufacturing PMI, Manufacturing PMI in Great Britain and more exciting events. Let’s see what awaits us today.
In the US, The Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI), Monthly Survey of about 400 purchasing managers to rate the relative level of business conditions, indicates industry expansion although its reduction of 0.2 points. While the ISM Manufacturing Prices will rise by 0.2 points,
Later in the US, Core Personal Consumption Expenditures (PCE) price Index, the price of goods and services purchased by consumers, excluding food and energy, is 1% like on the previous month.
More in the US, Personal Spending, the monthly value of inflation-adjusted expenditures by consumers is 0.4% like on the previous month, while the Personal Income, value of income received from all sources by consumers will reduce by 2%. Income is correlated with spending.
Finally in the US, Construction Spending, builders spent on construction projects will decreases by 9%.
For more on USD/CAD, read the Canadian dollar forecast.
In Great Britain, Halifax House Price Index (HPI), the price of homes financed by Halifax Bank of Scotland (HBOS) will rise by 7.6%. Leading indicator of the housing industry’s health since rising house prices attract investors and spur industry activity.
Finally in Britain, Manufacturing PMI, Monthly Survey of about 600 purchases managers to rate the relative level of business conditions. Indicates industry expansion although the 0.2 points reduction.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Schweizerischer Verband fur Materialwirtschaft und Einkauf (SVME), Purchasing Managers’ Index (PMI); Monthly Survey of about 200 purchasing managers to rate the relative level of business conditions, indicates industry expansion although the 0.2 points reduction.
In Australia, House Price Index (HPI);, the selling price of homes in the nation’s 8 state capitals is about to droop down by 2.1% , rising house prices attract investors and spur industry activity.
More in Australia, Commodity Prices remain 52.4% similar to the previous month. It’s a leading indicator of the nation’s trade balance with other countries because rising commodity prices boost export income.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Labor Cost Index, the quarterly price businesses pay for labor, excluding overtime is about to rise by 1%.
More in New Zealand, Australia and New Zealand Banking Group (ANZ); Commodity Prices, global monthly price of exported commodities remain 2.9% similar to the previous month and Tends to have a muted impact.
In Japan, Average Cash Earnings, the monthly value of employment income collected by workers is about to rise up by 1%. The more disposable income consumers have, the more likely they are to increase spending.
More in Japan, It’s a detailed record of the BOJ Policy Board’s meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.
Finally in Japan, Monetary Base is about to decrease by 0.2% it is positively correlated with interest rates – early in the economic cycle an increasing supply of money leads to additional spending and investment, and later in the cycle expanding money supply leads to inflation.
That’s it for today. Happy forex trading!
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