U.S. Durable Goods, New Home Sales and Federal Reserve Chairman Ben Bernanke’s speech in Princeton are just a few of the market moving events on our calendar today. Here is an outlook on the major activities ahead closing another trading week.
In the US, Durable Goods Orders rose by 0.4% last month, however a 0.9% drop is expected now while Core durable goods orders, decreased by 3.7% last month expecting to recover with 0.9% rise.
Later in the US, Federal Reserve Chairman Ben Bernanke delivers a speech titled “Implications of the Financial Crisis for Economics” at the Conference Co-sponsored by the Center for Economic Policy Studies and the Bendheim Center for Finance, in Princeton As head of the central bank his words have great effect on the currency and information on future monetary policy may be revealed.
More in the US, New Home Sales resembling the existing home sales situation after dropping from 315K to 276K in the previous month 293K rise is expected now.
Finally in the US, Federal Reserve Governor Elizabeth Duke deliver opening remarks at the Public Hearing on the Home Mortgage Disclosure Act, in Washington DC may effect currency and provide information on future monetary policy.
In Europe, German Information and Forschung Business Climate based on a wide survey of 7,000 business reached 106.7 points last week a close figure of 106.3 is expected now .
Also in Europe, Italian Retail Sales released monthly predicted 0.4% drop following 0.3% rise in the previous month the figures are very volatile and inconsistent.
Later in Europe, German Import Prices experienced an unexpected drop of 0.2% in the previous month following months of rising figures. A 0.3% rise is expected now contributing to inflation in the German market.
In Switzerland, Swiss National Bank Quarterly Bulletin is released has a mild impact in the market since the information is released two weeks earlier.
In Japan, BOJ Governor Shirakawa Speaks at the financial forum organized by Kobe University, in Kobe according to his words the bank of Japan recognizes that Japan’s economy faces the critical challenge of overcoming deflation and returning to a stable growth path with price stability and may continue to provide monetary easing measures to attract investors. This could have considerable effect on the currency.
That’s it for today. Happy forex trading!
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