US ADP Non-Farm Employment Change and US Pending Home Sales are the main events today. Here is an outlook on the market-movers awaiting us
In the US, Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change, measures the number of employed people over the last month (without government & farming industry), rise is expected from 110K on October up to 131K.
More in theUS, Pending Home Sales, value the households that are build and about to be sold before closing transaction (without new construction), is about to rise from -4.6% on October up to 1.4% this month.
More over in the US, Narayana Kocherlakota, Federal Reserve Bank of Minneapolis President, due to lecture in Stanford.
Later in the US, Revised Nonfarm Productivity, change in employment efficiency in goods and services production (apart from the farming industry), reduce is expected from 3.1% down to 2.6% on this quarter,
Later on in theUS, Chicago Purchasing Managers’ Index (PMI); monthly survey of for managers inChicagoto rate the business conditions, is about to rise by 1 point from the last month up to 58.5 points.
Also in theUS, Crude Oil Inventories, weekly report to for the crude oil barrels number in inventory, is expected to remain -6.2M this time.
Finally in theUS, Beige Book is scheduled 8 times per year to assist FOMC make their next decision on interest rates.
InCanada, Gross Domestic Product (GDP), main measurement to value the all the economy production of goods and services, is due to remain 0.3% similar to the precious time.
More in Canada, Raw Materials Price Index (RMPI), manufacturers prices for raw materials, is about to drop down by 0.2% to 1.2% from the last month.
Finally inCanada, John Murray, Bank of Canada (BOC) Deputy Governor, is about to speak inPlattsburgh.
For more on USD/CAD, read the Canadian dollar forecast.
InEurope, Unemployment Rate, measures the unemployed (by percentage) that are looking for jobs on the past month, 10.2% is predictable with no change from the previous time.
More inEurope, German Unemployment Change, value the number of unemployed droop is expected from 10K on the past month to -6K now.
More over inEurope, German Retail Sales is due to reduce from 0.3% on October down to 0.1% this time.
Later inEurope, French Consumer Spending, main indicator for consumer spending, rise is forecasted from -0.5% on October up to 0.1% now.
Later on in Europe, Consumer Price Index (CPI) FlashEstimate, value the consumer’s goods and services prices, about to remain 0.3% similar to the last month.
Also in Europe, Mario Draghi , European Central Bank (ECB) President is about to speak inRome.
Finally inEurope, The Economic and Financial Affairs Council (ECOFIN) Meetings, the Eurozone’s widest monetary decision making body, Coordinates of 27 states. with effect Eurozone’s financial health.
For more on the Euro, read the Euro to dollar forecast.
InGreat Britain, GfK Consumer Confidence continued dropping to- 32 from30 inthe previous month in light of the ongoing debt crisis. Another decline to -33 is expected now.
More inGreat Britain, David Miles MPC member is scheduled to speak inLondon. His words may provide information on future monetary policy.
Read more about the Pound in the GBP/USD forecast.
InSwitzerland, KOF Economic Barometer, comprised of 12 economic indicators aimed to predict trends in the economy, dropped to0.80 inOctober after1.21 inthe previous month indicating growing pessimism in the market. A further drop to 0.65 is predicted.
Read more about the Swiss franc in the USD/CHF forecast.
InAustralia, Housing Industry Association (HIA) New Home Sales, measures the new built households sold over the past month, -3.5% is expected this time.
More in Australia, Private Capital Expenditure measuring private companies spending increased by 4.9% in the second quarter after a 7.7% gain in the previous quarter. The reading was above the 4.0% growth predicted indicating growing business activity. Another increase of 8.2% is forecasted now.
Finally in Australia, Private Sector Credit increased unexpectedly by 0.5% following 0.2% addition in the previous month indicating a growth trend in the private sector . Another increase of 0.4% is forecasted now.
For more on the Aussie, read the AUD/USD forecast.
InJapan, Average Cash Earnings remained unchanged in September after 0.4% drop in the previous month indicating a slight improvement in the market. No change is forecasted this time.
Read more about the yen in the USD/JPY forecast.
That’s it for today.
Happy forex trading!
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