The dollar gained back some of the losses amid a light calendar. Also today, there aren’t any huge events, but there are some indicators that will move currencies. Let’s see what’s up for today.
British BRC Retail Sales Monitor began the day with a rise of 2.2%. This can hint about the official retail sales figure. The RICS House Price Balance was quite disappointing with a drop to 17%, half the expectations. More regions are reporting a drop in house prices. Lastly, Trade Balance widen unexpectedly against a forecast of 6.9 billion. For more on the Pound, read the GBP/USD forecast.
Australia’s ANZ Job Advertisements were excellent, rising by 19.1%. This is a volatile release (it fell by 8.1% last month), but the outcome gives a lot of hope for the official employment figures later in the week. Also in Australia, the NAB Business Confidence rose from 15 to 19 points, also good for the Aussie. On the other side of the day, Westpac Consumer Sentiment will show how Australian consumers feel about the economy. For more on the Australian dollar, read the AUD/USD forecast.
In Japan, Leading Indicators jumped to 97.1%, exceeding expectations. Later in Japan, Core Machinery Orders are predicted to drop by 3.8% after a leap of 20.1% last time.
In Europe, the only indicator is French Trade Balance. The Euro/Dollar continues the range trading. For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In the US, the only figure is IBD/TIPP Economic Optimism which is expected to rise. We have more interesting events tomorrow. Check out the forex weekly outlook for more.
That’s it for today. Happy forex trading!
Yohay Elam is the owner of Forex Crunch, a blog about the foreign exchange market. It includes tutorials, basics of the forex market, daily and weekly forex analysis, technical analysis, forex software posts, and whatever is related to Forex.
Article copyrighted by Yohay Elam. Content published with author's permission.
