These are the most important economic news for today, which can move the forex market. The most important economic reading is the US Consumer Confidence for the month of July. The pair that could see more volatility in the price action is the EUR/USD.
German IFO Business Climate (July)
Time: 08:00 GMT
An important monthly economic indicator about the business conditions and expectations in German with higher or rising readings indicating a better business outlook, and a more optimistic economic outlook and increased economic growth. Higher readings are positive for the German economy and the Euro. The expectations are for a reading of 114.9, a bit lower than the previous reading of 115.1.
US House Price Index (May)
Time: 13:00 GMT
Higher readings indicate a strong housing market with increased demand and also inflationary pressures, and are positive for the US Dollar. The expectations are for a reading of 0.5%, lower than the previous reading of 0.7%.
US S&P/Case-Shiller Composite-20 (May)
Time: 13:00 GMT
Another popular economic indicator which measures the change in housing prices in 20 US Metropolitan areas will also provide information about the health of housing market. But in this economic reading the expectation reading of 5.75% is higher than the previous reading of 5.67%. Any positive surprise will indicate a stronger than expected housing market and demand and is supportive for the US Dollar.
US Consumer Confidence (July)
Time: 14:00 GMT
A very important economic reading which can move the US Dollar if there are positive or negative surprises. Higher reading for the Consumer Confidence are positive for the US Dollar reflecting increased optimism for the future economic outlook, and probably higher consumer spending, leading to higher economic growth in terms of GDP. The expectations are for a reading of 116.0, lower than the previous reading of 118.9
BOE Chief Economist Haldane Speech
Time: 17:00 GMT
A speech from any central bank officials is always important, as there may be statements on the state of economy, Brexit or hints for a possible change in the monetary policy, important factors that have the potential to have an impact on the GBP/USD pair.
