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It’s Memorial Day in the US, so forex trading will start quite slowly.  German Ifo Business Climate and the  BOJ Monthly Report will stand out. Let’s see what’s up today.

The monthly  All Industries Activity figure will be released in Japan. It’s expected to deepen the fall, and plunge by 2.3%.

BOJ Governor Masaaki Shirakawa will speak today and might shed some light on the suffering Japanese economy. Last week, the BOJ expressed cautious optimism at the BOJ Press Conference. Will the positive outlook remain? Maybe the  BOJ Monthly Report will have answers.

In Germany,  Ifo Business Climate is an excellent indicator for the economic mood of the whole continent. It’s expected to rise from 83.7 to 84.9 points, continuing a nice and steady rise.

Also note a speech from  Deutsche Bundesbank President Axel Weber, which is a voting and influential member of the ECB.

Trade Balance is expected drop to 280 million from 324 million. The economy in New Zealand is somewhat fragile…

That’s it. The rest of the week features many other indicators. Check out the Forex Weekly Outlook.

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