Following yesterday’s heavy news day, currency values appear to be experiencing wide swings in value. The US went bullish versus most of its currency rivals, while the euro experienced mixed results. As this week reaches its mid-point, the rest of this week’s busy calendar events appear poised to continue pushing forex values into volatile price shifts.
Here is a roundup of today’s leading events:
GBP: Claimant Count Change – 9:30 GMT
Previous: 2.4K. Expected: 1.2K.
Britain’s Claimant Count Change figure is a measure of the number of people claiming benefits related to unemployment for the first time over the previous month. Although it is considered a lagging indicator, it still carries high relevance for valuing consumer spending as this report represents an early glimpse into the employment situation of the British economy. A better than expected release could help the GBP recover some of its recent losses.
USD: PPI – 12:30 GMT
Previous: 0.8%. Expected: 0.7%.
The monthly release of the Producer Price Index (CPI) represents the change in price of finished goods and services in the United States. It is one of the primary inflationary gauges used by the Federal Reserve to determine whether or not interest rates should be raised. A drastically different figure than what the forecast 0.7% could affect the USD greatly, but direction is unclear at this point given the risk-averse environment.
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Anton Eljwizat is a Currency Analyst with ForexYard. His experience in writing technical analyses for trading companies such as ForexYard has helped Anton stand out among other analysts. His understanding of technical indicators and chart analysis helps him provide some of the most groundbreaking analysis in the market today. His writings have been published on the ForexYard Trading Blog and affiliate websites. Anton holds a degree in Business Management from Ryerson University as well as a degree in Finance from Centennial College in Canada.
