These are the most important events from economic calendar that can move the forex market today:
European session
- France Business Confidence
Time: 06:45 GMT
Business Confidence is important as it reflects the level of optimism that businesses have for the economy, with a rising reading being positive for the French economy and the Euro, as it can lead to higher business spending, higher rate of employment and higher economic growth.
- UK BBA Mortgage Approvals
Time: 08:30 GMT
The British Bankers’ Association Mortgage Approvals reading measures the new mortgage approvals during the previous month, providing important information on the state of housing market. Rising readings are positive for the British Pound and the British economy indicating a robust housing market. The forecast is for a reading of 41.7K in August, higher than the previous reading of 41.58K.
- France Unemployment Benefit Claims
Time: 16:00 GMT
The figure for the Unemployment Benefit Claims is positive for the French economy and the Euro when it is declining, or is lower than expected, as less people file for unemployment benefits. In a robust economy that is expanding this should be the normal condition, although seasonality may affect the actual numbers during some months.
American Session
- US S&P/Case-Shiller Home Price Index
Time: 13:00 GMT
The Case–Shiller Home Price Index is reported monthly by Standard and Poor’s. The index is a measure of residential real estate prices and tracks values both nationally and in 20 key metropolitan areas. Higher than expected or rising readings indicate a strong housing market and is positive for the US Dollar. The forecast for the month of July is for a reading of 5.8% on a yearly basis, higher than the previous reading of 5.7%, while on a monthly basis the forecast is for an unchanged reading of 0.7%.
- We have 3 speeches for Fed officials
At 13:30 GMT, 16:30 GMT and at 16:45 GMT, with the most important one the last one as it is the Chair of the Fed, Janet Yellen.
- US New Home Sales
Time: 14:00 GMT
Another important number that shows the monthly state of the US housing market, with rising or higher than expected figures being both supportive and positive for the US Dollar, reflecting a strong housing market and higher consumer spending and future economic growth. For the month of August the forecast is for a reading of 585K, higher than the previous reading of 571K, and on a monthly basis the forecast on percentage basis is a reading of +3.3%, much higher than the previous reading of -9.4%.
- US CB Consumer Confidence
Time: 14:00 GMT
The Conference Board Index for the month of September is forecasted to show a reading of 120.0, lower than the previous reading of 122.9. Higher readings of consumer confidence are positive for the US Dollar, as they reflect higher optimism for the economic outlook, higher consumer spending and higher economic growth.
- US API Weekly Crude Oil Stock
Time: 20:30 GMT
The weekly report from the American Petroleum Institute provides useful insights on the US demand for oil and gasoline, and any significant surprise can move the oil prices.
