By Dan, ForexYard – A return to risk taking has caused currencies like the Australian and Canadian Dollars to make gains against the greenback. A relatively slow news day today will likely be interrupted by several important events. Whether or not the Dollar can make up its losses today is yet to be seen, but the potential is definitely there.
Here is a roundup of the days main economic events.
08:30 GMT GBP Claimant Count Change
– Change in the number of people claiming unemployment-related benefits during the previous month.
– Employment data is one of the most important figures, largely because it is the earliest monthly indicator. Last month’s figure shocked investors by showing a drop of 32,300 unemployed people. A smaller drop is predicted this time – 7,600 and will probably support the GBP/USD pair.
14:15 GMT USD Fed Chairman Bernanke Speaks
– The chairman of the Federal Reserve doesn’t always say something meaningful or related to the economy, but his speeches are closely watched and any small hint can shake the USD vs. its major counterparts.
14:30 GMT USD Crude Oil Inventories
– Change in the number of barrels of crude oil held in inventory by commercial firms during the past week. If we have bearish statistics showing an increase in inventories, we could see a return to a downtrend for oil.
Forex Market Analysis provided by Forex Yard.
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