Currency Trading Outlook for the Week Ending May 18th

Major economic events which could affect the forex market around the globe for the week ending May 18th, 2012 are as follows:

On Monday, May 14th, 2012, Germany reported its wholesale price index while France came up with data on its current account. Italy released its consumer price index along with official data on general government debt. Italy also sold its 10-year bonds on Monday. Spanish Treasury department offered its treasury bills in an auction while the single currency region reported its separate data on industrial production.

In Switzerland, data on producer and import prices was released. Australia came up with its data on home loans and investment lending while Japan reported its domestic corporate goods price index.

Today on Tuesday, Greece, France and Germany released their official figures on gross domestic product. Greece auctioned its 91-day treasury bills while Germany came up with data on ZEW economic survey. Portugal reported its data on GDP while euro zone released its separate figure on gross domestic product. EFSF also auctioned treasury notes today.

In United States, data on retail sales, consumer price index, business inventories, NAHB housing market index and net long term TIC flows was reported. In United Kingdom, data on trade balance was published.

In Australia, new motor vehicle sales were published while Reserve Bank of Australia released minutes of its latest monetary policy meeting. In Japan data on consumer confidence was reported.

On Wednesday, May 16th, Italy will report its data on country’s gross domestic product while euro zone is to release its data on consumer price index and trade balance. In Switzerland, ZEW economic survey will be released.

United Kingdom is expected to report its data on claimant count rate, unemployment rate, average weekly earnings and jobless claims change while the Bank of England will publish its inflation report. In United States, data on housing starts, building permits, manufacturing production, capacity utilization, industrial production, MBA mortgage foreclosures, mortgage delinquencies and inventories data for crude oil, gasoline and distillates will be announced. US Federal Reserve’s official Bullard will address at an event in Kentucky while US Fed will also release minutes of its latest monetary policy meeting.

Canada will report its data on manufacturing shipments on Wednesday. Australia reported its Westpac consumer confidence index while Japan is to report its machine orders and tertiary industry index.

On Thursday, in euro zone, Spain will report its gross domestic product growth rate while 10-year Spanish bonds will be auctioned. In United States, several reports will be published which include weekly data on initial jobless claims, continuing claims, index of leading indicators and natural gas inventories data by EIA. In Canada, data on wholesale sales and international securities transactions will be released while the Bank of Canada will publish its review collection of academic papers.

Australia will report its data on consumer inflation expectations, average weekly wages and Reserve Bank of Australia’s foreign exchange transactions while in Japan official figure on gross domestic product, housing loans, capacity utilization and industrial production is expected.

On Friday, May 18th, Germany will report its data on producer prices in the single currency region while in the United States, data on durable goods and factory orders will be reported. American Petroleum Institute will also publish its monthly report on Friday.

In Canada, data consumer price index will be released.


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