A Busy Day Ahead
Skerdian Meta • 2 min read
Good morning to all of you FXML followers. I hope you guys are following our forex signals because we are having a great start of the day today after waking up this morning to find two winning forex signal in EUR/USD, one of which we opened during the night.
Yes, the start was great, but forex not a sprint game, it´s more like a long marathon and you have to do your homework every day such as analyzing the economic data or analyzing the charts. So let´s have a look at what´s on the economic calendar today.
Early in the morning, the Chinese yearly consumer and producer inflation numbers (CPI and PPI) posted some decent gains. The Kiwi and the Aussie took advantage of the good Chinese numbers and are now higher from last night, unlike the other major currencies. The British construction data plunged again which shows that this sector is in contraction after resurfacing and breaking even last month. This is the fifth month of contraction out of seven, so you do the math.
That´s just the beginning though. Later today the US producer inflation (PPI) and the retail sales are up on the calendar. We will see whether the US consumer is translating the better confidence into more high street sales. The PPI data is likely to get overshadowed by the retail sales, unless it really shocks the forex market.
That´s not all, the UoM (University of Michigan) consumer sentiment is due at 14:00 GMT. We have central bankers as well on the schedule today, the BOE governor Mark Carney will be up at the Future Forum in Birmingham, UK at some time in the afternoon, while FED´s Rosengren and Yellen will follow. I´m a bit sceptic about the effect that Yellen´s comments will have on the USD, but we will be back with an analysis on how this can affect the Buck later today, so stay tuned fellows.