US Building Permits, and Housing Starts, US Federal Reserve Chairman Ben Bernanke speech in Fairfax and Canadian Rate decision are the major events on this busy day. Here is an outlook on the market moving events ahead. In the US, Building Permits an indicator of future activity is expected to stay low following 0.57M permits issued in the previous month. A small increase to 0.58M is expected now. More in the US, Housing Starts reached a better than expected 0.60M in August despite the recession in the market. A small drop to 0.59M is expected now. Later in the US, Federal Reserve Governor Janet Yellen participates in a panel discussion at the at the Fifth ECB Conference on “Central Bank statistics: What did the financial crisis change?,” in Frankfurt. Her words may have direct impact on the market. Finally in the US, Federal Reserve Chairman Ben Bernanke delivers opening remarks at the Junior Achievement Finance Park, in Fairfax. In his last speech in Boston he explicitly justified the logic for another round of quantitative easing administered in November. His words rock the market. Canadian Rate decision and Rate statement: September’s inflation rate was 1.00% following 0.75% in June. This month’s inflation rate is expected to remain 1.00%. A gradual increase is inflation rate will provide backing to the Canadian growing economy. For more on USD/CAD, read the Canadian dollar forecast. In Europe, German ZEW Economic Sentiment: Pessimistic forecasts by analysts on the European economy caused this index to collapse reaching a negative -4.3 in September contrary to predictions of 10.7. A further drop to -7 is expected now. More in Europe, Current Account deficit is expected to decrease drastically this month reaching 1.9B following 3.8B in July. This is certainly a good sign for the European economy. More in Europe, ZEW Economic Sentiment dropped to 4.4 in the previous month from 14.9 a further plunge below the zero line to -2.0 is expected now indicating pessimism among the analysts. Later in Europe, ECB President Jean-Claude Trichet speaks at the Fifth ECB Statistics Conference on “Central Bank statistics: What did the financial crisis change?,” in Frankfurt. Over the weekend, ECB President Jean-Claude Trichet rejected a call by Bundesbank President Axel Weber, a member of the ECB Governing Council, to bring the central bank’s bond-buying program to a close. He may elaborate his views on this matter during the upcoming speech. Finally in Europe, Deutsche Bundesbank President Axel Weber speaks today in Munic and may also refer to the central bank’s bond-buying program policy. In Great Britain, BOE Governor Mervyn King speaks at the Black Country Chamber of Commerce, in Dudley. He may give information on the possibility of expand the central bank’s 200 billion pounds ($319 billion) bond purchase program to give stimulus to the market. More in Great Britain, CBI Industrial Order Expectations released monthly a leading indicator of economic health suffers from a negative reading with a disappointing -17 in the previous month. This survey of 550 manufacturers is expected to further decline to -19. Read more about the Pound in the GBP/USD forecast. In Australia, Monetary Policy Meeting Minutes, The Australian dollar reached parity with the US dollar late on Friday night, for the first time since the currency was floated in December 1983. The RBA has been trying not to raise rates given the global economic environment despite inflation pressures. Tomorrow’s monetary policy meeting minutes will be very interesting. More in Australia, MI Leading Index designed to predict the direction of the economy was up 0.4% following a flat reading in June. A similar rise is expected now. For more on the Aussie, read the AUD/USD forecast. In New Zealand, Alan Bollard Governor of the Reserve Bank of New Zealand testifies on the central bank’s annual report before Parliament’s Finance and Expenditure Select Committee, in Wellington. His words can affect the kiwi. 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. Anat Dror Anat Dror Anat Dror Senior Writer I conceptualize, design and create multi-lingual websites. Apart from the technical work, my projects usually consist of writing content for these sites in English, French and Hebrew. In the past, I have built, managed and marketed an e-learning center for language studies, including moderating a live community of students. I've also worked as a community organizer Anat's Google Profile View All Post By Anat Dror Daily Look share Read Next EUR/USD October 19 – Consolidating Under 1.40 Yohay Elam 12 years US Building Permits, and Housing Starts, US Federal Reserve Chairman Ben Bernanke speech in Fairfax and Canadian Rate decision are the major events on this busy day. Here is an outlook on the market moving events ahead. In the US, Building Permits an indicator of future activity is expected to stay low following 0.57M permits issued in the previous month. A small increase to 0.58M is expected now. More in the US, Housing Starts reached a better than expected 0.60M in August despite the recession in the market. A small drop to 0.59M is expected now. 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