American CB Consumer Confidence and a lot of British figures dominate the scene today. Will EUR/USD recover from the plunge it made this week? Let’s see what’s up for today.
Note: After a ten day vacation, I’m glad to back, and I’;m catching up what I’ve missed in the forex scene.
Swiss UBS Consumption Indicator scored 0.66, less than last month’s 0.75 points.
In Europe, German Import Prices rose by 1.3%, almost double the expectations of 0.7%. This adds to the rising CPI. Is Europe getting out of deflation? Later in Europe, Consumer Confidence is expected to stay at -21, similar to last month.
In Britain, Current Account is predicted to show a deficit of 7.7 billion, less than last month’s 8.5 billion. Net Lending to Individuals is expected to turn positive, and print 0.3 billion, after it fell last month. Mortgage Approvals are predicted to remain almost unchanged, at 51K.
The more interesting figure is the final GDP, which is predicted to be revised upwards, to a fall of 0.6%, less than the previous read of 0.7%. Some countries have posted growth in the second quarter. Britain is currently behind.
The most important British figure for today is very important: CBI Realized Sales are expected to rise from -16 to -15. Where is GBP/USD going?
And at night, GfK Consumer Confidence is expected to be quite stable and quite negative, at -24.
In the US, S&P/CS Composite-20 HPI is expected to show an improving situation in home prices: an annual average of a 14.3% fall is expected, continuing a positive trend.
Later in the US, CB Consumer Confidence is expected to move forward, rising from 54.1 to 57 points, also continuing the positive trend.
In Japan, Prelim Industrial Production usually impacts the Yen. After rising by 2.1%, it’s expected to rise by 1.9% this time.
That’s it for today. After returning from my vacation, I’m back with the regular writing schedule.
