July
10, 2010
(Allthingsforex.com)
– The
U.S. corporate
earnings, the
uncertainty
surrounding the
stress tests of
major EU banks,
and a sequence
of inflation,
industrial
activity and
consumer
spending data
from some of
the largest
economies in
the world will
be the main
factors driving
the trends for
equities,
commodities and
currencies in
the busy week
ahead.
In
preparation for
the new trading
week, here is a
list of the Top
10 spotlight
economic events
that every
currency trader
should pay
attention
to.
1.
GBP-
U.K. GDP- Gross
Domestic
Product,
the main
measure of
economic
activity and
growth, Mon.,
July 12, 4:30
am, ET.
The
final reading
of the U.K. GDP
should confirm
economic growth
in Q1 2010 at
0.3% q/q.
2.
GBP-
U.K. CPI-
Consumer Price
Index,
the main
measure of
inflation
preferred by
the Bank of
England, Tues.,
July 13, 4:30
am, ET.
The
U.K. inflation
is expected to
pull back to
3.2% y/y from
3.4% y/y in
May, but still
stubbornly
remaining above
the Bank of
England’s
3.0%
ceiling.
3.
EUR-
Germany ZEW
Economic
Sentiment
Index,
a leading
indicator of
economic
conditions and
business
expectations in
the
Euro-zone’s
largest
economy, Tues.,
July 13, 5:00
am, ET.
The ZEW
survey could
provide further
evidence of an
economic
slowdown in the
largest economy
in the
Euro-zone with
a reading of
25.3 compared
with 28.7 in
the previous
month.
4.
GBP-
U.K. Jobless
Claims and
Unemployment
Rate,
the main gauges
of employment
trends and
labor market
conditions,
Wed., July 14,
4:30 am, ET.
Another
month of
improvement in
the U.K. jobs
market could be
the outcome of
this report,
with forecasts
pointing to
lesser 20,300
jobless claims
in June than
the 30,900
claims in May,
as the
unemployment
rate remains
unchanged at
7.9%.
5.
EUR-
Euro-zone
Industrial
Production,
the main gauge
of industrial
activity
measuring the
output of
factories,
mines and
utilities, and
Euro-zone
HICP-
Harmonized
Index of
Consumer
Prices,
the main
measure of
inflation in
the Euro-zone
and the
European
Union’s
equivalent to
the CPI-
Consumer Price
Index, Wed.,
July 14, 5:00
am, ET.
Inflationary
pressures in
the Euro-zone
are expected to
remain flat at
1.4% y/y, while
the Core CPI
increases
slightly by
0.9% m/m from
0.8% in May.
The industrial
production is
forecasted to
rise by 1.2%
from 0.8% in
the previous
month.
6.
USD-
U.S. Retail
Sales,
an important
gauge of
consumer
spending
measuring the
total receipts
at retail
establishments,
Wed., July 14,
8:30 am, ET.
Last
week’s
better-than-expected
sales at some
major U.S.
retailers gave
a boost to the
markets, and
this report
could also show
signs of
improvement,
with sales at
retail
establishments
registering a
smaller decline
of -0.2% in
June from -1.2%
in May.
7.
USD-
U.S. FOMC-
Federal Open
Market
Committee
Meeting
Minutes,
a detailed
record of the
Fed’s
last monetary
policy meeting
that may
provide an
outlook on the
economy,
inflation and
the Fed’s
future monetary
policy, Wed.,
July 14, 2:00
pm,
ET.
The
minutes would
likely confirm
the Fed’s
cautiously
optimistic
outlook on the
economy and the
monetary policy
makers’
commitment to
keep rates at
their record
low level for
“extended
period”.
8.
JPY-
Bank of Japan
Interest Rate
Announcement,
Thurs., July
15, expected
around 12:00
am, ET.
The
Bank of Japan
is not expected
to make any
changes to the
current low
level benchmark
interest rate,
but traders
should watch
for the
bank’s
view on the
deflation
threat for the
Japanese
economy.
9.
USD-
U.S. Industrial
Production,
the main gauge
of industrial
activity
measuring the
output of
factories,
mines and
utilities,
Thurs., July
15, 9:15 am,
ET.
Manufacturing
activity, which
has been a
leader of the
U.S. economic
recovery, is
forecasted to
slow down with
industrial
output
flattening at
0.0% in June,
compared with
the 1.3%
increase in
May.
10.
USD-
U.S. CPI-
Consumer Price
Index,
the main
measure of
inflation in
the
world’s
largest
economy, Fri.,
July 16, 8:30
am, ET.
The
Fed’s
preferred PCE
inflation gauge
recently showed
subdued
inflationary
pressures in
the U.S., but
the
month-over-month
index of
consumer prices
could see an
increase by
0.2% from a
reading of
-0.2% in the
previous month,
while the Core
CPI is expected
to remain
unchanged at
0.1% m/m.
