The day before Thanksgiving also brings a crowded calendar. Revised GDP in Britain and Durable Goods Orders in the US stand out. Let’s see what’s up for today:
Australia starts the day with the amount of construction work. Construction Work Done is predicted to rise by 0.1% in Q3, after a drop of the same scale in Q2. For more on the Aussie, read the AUD/USD forecast.
A day after the Ifo Business Climate, Germany publishes the GfK Consumer Climate which is predicted to edge up from 4 to 4.3 points. For more this popular pair, check out Casey Stubbs’ technical analysis and my EUR/USD forecast.
After Germany and the US, it’s Britain’s turn to publish an updated version of Q3 GDP. The UK is still in recession according to the preliminary release, and this isn’t expected to change, only edge up from -0.4% to -0.3%.
For more on the Pound, read the GBP/USD forecast.
Loonie traders, note the Corporate Profits release in Canada, which is a quarterly indicator. For more on USD/CAD, check out the Canadian dollar forecast.
Many American releases before Thanksgiving
Durable Goods Orders are predicted to rise by 0.5%, less than last month’s rise. Core Durable Goods Orders, no less important, are predicted to post a neat rise of 0.8%.
Weekly Unemployment Claims, which haven’t budged in the past few weeks, are published early due to the holiday, and are expected to remain stable at 500K.
American Personal Spending fell last month, and is now predicted to rise by 0.6%. The Personal Income, which has stalled last month, is predicted to rise by 0.2%. Core PCE Price Index is predicted to edge up by 0.1%, like last month.
The University of Michigan is expected to show a better figure in the revised Consumer Sentiment – 67.2 points. After Existing Home Sales made a huge surprise on Monday, New Home Sales are predicted to only make a small move upwards – from 402K to 408K. A surprise to the upside is very possible.
Near the end of the day, Japan’s Monetary Policy Meeting Minutes are released, and might shed some light on the cautious optimism that was expressed by the BOJ.
That’s it for today. Happy forex trading!
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