This week has a strong start, with Japan’s GDP, just as the market opens. A rate decision in Japan will follow during the week. Later, CPI will be released on Tuesday in Britain, and on Friday in Canada and in the US. German ZEW Economic Sentiment, Anerican Building Permits and TIC Long-Term Purchases are notable. Let’s dive in…
Sunday, Februray 15th: Yes, forex trading occasionally begins with news on Sunday. New Zealand’s quarterly PPI is expected to be almost unchanged, rising 0.2%.
Also Japan provides serious economic data, at 23:50 GMT: Prelim GDP is expected to fall by 3.1%, a very bad figure. Lowering interest rates probably didn’t help the Japanese economy.
Monday, February 16th: As usual, not too many economic indicators on Monday. In Britain, Rightmove HPI is of interest to cable traders. In Canada, Manufacturing Sales is expected to show a sharp fall. In the US and Europe, the only events are speeches by Jean Claude Trichet and by FOMC member Elizabeth Duke.
Tuesday, February 17th: In Australia, Monetary Policy Meeting Minutes will be the highlight, after last month’s interest rate slash. In Britain, CPI data will impact trading, even though inflation isn’t in the limelight these days.
In Europe, German ZEW Economic Sentiment is highly respected figure that impacts the Euro. US data begins to mount with the TIC Long-Term Purchases. It will show big money movements, just before Obama’s stimulus package rolls.
Wednesday, February 18th: British CBI Industrial Order Expectations will be of interest, as also the MPC minutes regarding the historic 1% rate decision.
In the USA, lots of data is due: Building Permits, Housing Starts, and Housing Starts amongst others. Also the FOMC Meeting Minutes and a speech by Ben Bernanke will be absorbed by traders.
Thursday, February 19th: Japan’s BOJ is expected to set the interest rate unchanged, at 0.1% in the wake of Thursday. In Switzerland, ZEW Economic Expectations will be of interest. British Public Sector Net Borrowing is closely watched.
And in the US, PPI will be in the scene, as well as the weekly Unemployment Claims, expected to stay above 600K for another week. The Philly Fed Manufacturing Index is also notable.
Friday, February 20th: Flash Manufacturing PMI and Flash Services PMI will be first published in Germany and France, the main axis of Europe, and then in the whole of the Euro zone. In Britain, monthly Retail Sales will shake the pound.
And in North America, the week will end with a blast: CPI and Core CPI will be published both in the US and in Canada. American Core CPI is expected to rise by a tiny 0.1%, while Canadian data is expected to fall.
That’s it. Happy Forex Trading!