The forex market economic calendar today has economic data about the economies of UK, Eurozone, US and Australia. High volatility is expected for the GBP/USD currency pair.
These are the main economic events for today in the forex market:
- Euro Finance Week 2017
Time: 07:30 GMT
The 20th EURO FINANCE WEEK takes place in Frankfurt, Germany from 13-17 November 2017, with important and interesting discussions, topics, ideas, forums on financial markets.
- UK Claimant Count Change, Unemployment Rate, Average Earnings Including Bonus
Time: 09:30 GMT
Claimant Count Change measures the change in the number of unemployed people in the UK, who are filing for unemployment benefits but at the same time are seeking for a new job. Declining or lower than expected readings are positive for the British Pound and the economy of UK, reflecting a strong labor market, which is closely associated high increased consumer spending and economic growth. The forecast is for a figure of 2.3K, higher than the previous figure of 1.7K, the unemployment rate is expected to remain unchanged to 4.3%, and average earning which reflect also consumer spending are expected to decline slightly.
- Eurozone balance of Trade, ECB Praet Speech
Time: 10:00 GMT
The balance of trade is the difference of the value of a country’s exports of goods and services from the value of its imports. Higher number of exports compared to imports lead to a trade surplus, which is positive for the local currency, reflecting increased demand for goods and services paid in the local currency, which in economic theory should lead to the appreciation of the currency over time.
- Fed Evans Speech, Inflation Rate, Core Inflation Rate, NY Empire State Manufacturing Index, Retail Sales
Time: 08:00 GMT, 13:30 GMT
The inflation rare in the US economy on a yearly basis is expected to decline to 2.0%, lower than the previous figure of 2.2%, while core inflation which excludes the volatile prices of food and energy is expected to remain unchanged to 1.7%. Rising readings of inflation rate, retail sales and NY Empire State Manufacturing Index are all considered positive and supportive for the US Dollar, signaling increased consumer spending, economic growth and improved business conditions.
- US Business Inventories, EIA Crude Oil Stocks Change and Gasoline Stocks Change
Time: 15:00 GMT, 15:30 GMT
Business inventories measure the change of goods held as inventories from manufacturers or retailers, with a lower than expected reading indicating strong consumer demand, a positive factor for the US Dollar. Any surprise in the readings of the Crude Oil Stocks and Gasoline Stocks Change can have a large impact on oil prices and the USD/CAD pair price action. If there is a lower increase in the number of crude oil inventories compared to the expectation, then there is a strong demand for oil, and this is supportive or positive for the oil prices.
- US Overall Net Capital Flows, Net Long-Term Tic Flows, Foreign Bond Investment, Fed Rosengren Speech
Time: 21:00 GMT
Net Treasury International Capital Flows include all net foreign acquisitions of short and long-term securities, as well as banking flows. The metric demonstrates nearly all the flows into and out of the national economy. An inflow of money into the country will most certainly signify growth prospect. Conversely, when the national economy can be expected to contract, investors will pull money out. In general rising figures for all these economic releases reflect the level of demand for assets in US Dollars, being positive for the appreciation of the US Dollar due to greater demand.
- Australia Wage price Index
Time: 00:30 GMT
Wage Price Index measures the increase in wages, with rising or better than expected figures being positive for the Australian Dollar reflecting a robust economy and strong labor market. In a booming and expanding economy we should expect higher wages over time, leading to both inflationary pressures abut also to higher economic growth as a result of increased consumer spending. The forecast is for an increase of the Wage Price Index both on a quarterly and a yearly basis, which should be supportive and positive for the Australian Dollar.Trade now