By TraderVox.com
Tradervox (Dublin) – Last week ended with the dollar able to erase some of the losses; however, bad reports from the Jobless claims report and comments from Fed officials continued to pull the dollar market down. This week, Europe will be waiting from the German ZEW Economic Sentiment while the dollar is expected to be affected by the US retail Sales and unemployment claims.
Monday
US Retail Sales for March will be released on Monday at 12:30 GMT. The report is expected to show an increase of 0.4 percent with Core CPI expected to climb 0.6 percent. Another major event will be the US TIC Long-Term Purchases. This report will be released at 13:00 GMT and it is expected to show that US Treasury International Capital dropped after it had surged in January to $101.0 billion from $19.1 billion in December. Economists are expecting to see a drop to $41.3 billion.
Tuesday
Tuesday will be a busy day with three major reports expected. In Europe, the German ZEW Economic Sentiments report will be released at 9:00 GMT; this report is expected to show a decline to 20.2 from 22.3 registered the previous month. The same day at 12:30 GMT the housing industry will release US Building Permits. It is expected the report will show a decline to 710,000 from 717,000 registered in the previous month. Another major event on Tuesday is the BOC rate decision. This is expected at 13:00 GMT where traders and economist expect the BOC to keep the current rates.
Wednesday
Wednesday will be pretty quiet with only one major event expected. At 8:30 GMT, the UK labor department will release the UK employment data. People claiming unemployment benefits are expected to reduce to 6,600 from the 7,200 reported in February.
Thursday
This will be a busy day with three major reports expected from the US. The labor department will be releasing the US unemployment claims at 12:30 GMT. People applying for unemployment claims are expected to reduce from last week’s high of 380,000 to 370,000. Another major event is the US Existing Home Sales report that will be released at 14:00 and economists are expecting a higher value of 4.61 million units sold from 4.59 million. US Philly Fed Manufacturing Index will be the third major report to be released at the same time. A small decline to 12.1 is expected from the 12.5 registered in March.
Friday
Euro-zone German IFO Business Climate is forecasted to drop to 109.6 from 109.8 registered in March. It will be released at 8:00 and later Canadian Inflation Data will be released at 12:30. A decline to 0.3 percent is expected from 0.4 registered in March.
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