By TraderVox.com
Tradervox.com (Dublin) – Last week, we saw a resurgence of fears about the Euro zone progress and worries about global economic growth escalated. This pushed the US dollar higher against major currencies as the US economy showed some signs of improvement. Here is a brief analysis of major events this week.
Tuesday 14
At 0830hrs GMT, the UK Inflation data will be published in London. June’s data showed a drop in inflation, which touched 2.4 percent from a 2.8 percent registered in May. The market is expecting another drop to 2.3 percent. At nine o’clock, the Euro zone German ZEW Economic Sentiments report will be published, where a small improvement to negative 18.7 is expected. The economic sentiments among Germans dropped on July to minus 22.3 percent. The US Retail Sales and PPI will be released at 1230hrs GMT, where the US Retail Sales is predicted to increase by 0.4 percent and the Core Sales to gain by 0.5 percent. The US PPI will increase further, adding 0.3 percent to the 0.2 percent gained in May.
Wednesday 15
The first report at 0830hrs GMT will be the UK Employment Data. In June the people claiming for unemployment benefits increased by 6,100 while the total number of unemployment people in the country reached 2.58 million in the same month. The market is expecting an increase to 6,600 for the number of people claiming unemployment benefits. Further, US Inflation Data report will be released at 1230hrs GMT. The market expects the prices to increase by 0.3 percent in US.
Thursday 16
Two reports from the US will be released at 1230hrs on this day. The US Building Permits and the US Unemployment Claims data are the two major reports from the US. The Housing Permits are expected to rise to 777,000 from the 755, 000 registered in June. After an unexpected drop to 361,000, the number of people claiming for unemployment benefits in US is expected to rise to 365,000 this time round. Another major event in the US will be the US Philly Fed Manufacturing Index which will be released at 1400hrs GMT. The index was at minus 12.9 points in July from minus 16.6 in May. The market expects another improvement to minus 3.7 point in June.
Friday 17
The first major event for the day will be the Canadian Inflation data which will be published at 1230hrs GMT. The CPI and Core CPI dropped by 0.4 percent in the previous reading for June; this time the market expects both indices to rise to 0.3 percent. The other report is the US UoM Consumer Sentiment which will be released at 1355hrs. The Market expects a small increase to 72.3.
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