Forex Trading: Weekly Outlook

Major economic events to affect the forex markets for the week ending February 3rd, 2012 are as follows:

On Monday, in euro zone, data on German consumer price index was released. Data on consumer confidence and business climate indicator was also released in the euro zone.

In United States, data on personal consumption expenditure was published while in United Kingdom report on home track housing survey was published.

Today on Tuesday, data on unemployment rate and retail sales was published in euro zone while in United Kingdom report on M4 money supply, mortgage approvals and net consumer credit was published.

In United States, data on consumer confidence was published while in Canada official data on Gross Domestic Product was released. Japan reported its data on housing starts along with data on construction orders and small business confidence. In Australia, reports on private sector credit and business confidence were published.

On Wednesday, February 1st, 2012, German purchasing managers’ index on manufacturing sector is to be published in the euro zone with separate data on purchasing managers’ index for manufacturing and consumer price index for the single currency region. France and Italy will also their separate data on purchasing manager index for manufacturing sector.

In United States, data on employment change by ADP is to be released while US Department of Energy will report its weekly data on crude oil, gasoline and distillates inventories. ISM’s manufacturing index is also expected on Wednesday. Moreover data on construction spending will also be published in United States.

In United Kingdom, data on house prices is to be reported. In Japan, official data on reserve assets and labor cash earnings is to be reported while Australia released its data on house price index.

On Thursday, February 2nd, 2012, euro zone will publish its data on producer price index while in Switzerland data on country’s trade balance will be reported. In United States, several economic indicators will be released which will include data on domestic and total vehicle sales, RBC Consumer outlook index, nonfarm productivity, weekly data on jobless claims, EIA data on natural gas supplies and data on job cuts. Moreover, US Federal Reserve’s Chairman Ben Bernanke will give his statement before House Budget Committee on Thursday.

In United Kingdom, purchasing managers’ index will be released while in Switzerland official data on country’s trade balance will be reported. Australia will also release its data on country’s trade balance while in Japan, report on monetary base will be published.

On Friday, February 3rd, 2012, in euro zone, purchasing managers’ index for services sector will be reported while Italy, France and Germany will release their separate reports on services sector PMI. Euro zone will also release its data on retail sales.

In United States, data on average hourly earnings, non-farm payrolls, unemployment rate and data on factory orders will be published while Institute of Supply and Management will publish its report on non manufacturing sector.

In United Kingdom data on purchasing managers index for services sector and country’s official reserves will be reported.

Canada will report its data on participation rate, employment change and unemployment rate. In Australia, AIG Performance of services Index will be released.

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