28 May, 2013
The early part of this week has seen and will see very little major data released largely due to Spring bank holiday in the UK and memorial day in the US. This morning the only data in the Euro-zone has seen the Swiss trade balance come in worse than expected at CHF 1728B, although employment levels have come in higher than at this stage last year up to 4.152m from 4.116m.
This afternoon will see US consumer confidence data released, giving us an idea as to whether collective individuals in the US have enough positivity to help an upturn in the US economy or whether they will decide to keep their dollars in their wallets. This is especially important, not only for the US Dollar strength but also the Euro (the economic see-saw) and thusly, the Pound. A positive outcome for US confidence will weaken the Euro rate against both the Pound and the USD.
Aside from that, we have retail data due late tonight from Japan and sales information from the country’s larger retailers, followed shortly afterwards at 0:00GMT on Wednesday, by Haruhiko Kuroda, Bank of Japan Governor’s speech and press conference about monetary issues in Tokyo.
Wednesday does see a lot of very important data released including employment levels and CPI statistics from Germany, the Bank of Canada interest rate decision and rate statement. We also head back to the land of the rising sun for information on foreign investment in stocks and bonds in Japan.
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