Very busy day ahead of us, with existing news, FOMC Meeting Minutes, Existing Home Sales in the US, and much more .Let’s see what awaits us today.
In the US, Federal Open Market Committee (FOMC) Meeting Minutes, that is scheduled 8 times per year. A detailed record of the FOMC’s most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates.
Later in the US, Gross Domestic Product (GDP) all goods and services produced by the economy is about tot rise by 0.3%, and the Prelim GDP Price Index (services included in GDP) will remain 2.3% like on the previous month. It’s the broadest measure of economic activity and the primary gauge of the economy’s health.
More in the US, Existing Home Sales that is reported in an annualized format on buildings that were sold during the previous month, excluding new construction will reduce to 4.51M similar to the previous report and triggers a wide-reaching ripple effect.
Finally in the US, Richmond Manufacturing Index, Monthly Survey of about 100 manufacturers in the Richmond area which to rate the relative level of business conditions including shipments, new orders, and employment is about to rise by 1 points and indicates improving conditions.
In Canada, Consumer Price Index (CPI), price of goods and services purchased by consumers, is about to remain 0.2% like on the previous month, while the Core CPI (excluding the 8 most volatile items) is about to reduce by 0.1%. Rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate;
More in Canada, Retail Sales, sales at the retail level is about to rise by 0.3%, while no change in the Core Retail Sales (excluding automobiles). Primary gauge of consumer spending, which accounts for the majority of overall economic activity.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Flash Services Purchasing Managers’ Index (PMI), Survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories. Businesses economic health leading indicator is about to remain similar to the previous month. Europe rise to 53.2 points, Germany reduce to 55.9 points and France rise to 55 points.
Also in Europe, Flash Manufacturing Purchasing Managers’ Index (PMI), Survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Businesses economic health leading indicator is about to remain similar to the previous month. Europe reduces to 54.4 points, Germany rise to 57 points and France remaining 55.2 points.
Finally in Europe, GfK German Consumer Climate, Survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions, including personal financial situation, climate for major purchases, and overall economic situation is about to rise by 0.2%.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Bank of England (BOE),Monetary Policy Committee (MPC) Adam Posen Due to speak at the Center for Business and Policy Studies Conference, in Stockholm. Affects the nation’s key interest rates, and drop subtle clues regarding future monetary policy.
More in Great Britain, British Bankers’ Association (BBA); Mortgage Approvals, new mortgages approved for home purchase by BBA-represented banks during the previous month; is due to remain 31.3K similar to the previous month. Excellent gauge of how many qualified buyers are entering the market.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Swiss National Bank (SNB) Governing Board Chairman Philipp Hildebrand Due to deliver a speech titled “Monetary policy challenges: Swiss exports in a globalized world” at the Mission Suisse, in Brussels.
In Australia, The Conference Board (CB) Leading Index based on 7 economic indicators will remain 0.2% like on the previous month. This index is designed to predict the direction of the economy.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Inflation Expectations, Percentage that business managers expect the price of goods and services to change annually during the next 2 years, is due to remain 2.6% like on the previous quarter. Expectations of future inflation can manifest into real inflation, primarily because workers tend to push for higher wages when they believe prices will rise.
In Japan, Bank of Japan (BOJ) Governor Masaaki Shirakawa due to speak in Hong Kong. He controls short term interest rates, and has important influence over the nation’s currency value.
That’s it for today. Happy forex trading!
Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.
Share
