Trading Week Outlook: February 7 - 11, 2011
All Things Forex submits: Following a couple of busy trading weeks for the euro and the U.S. dollar, the lighter-on-economic-data week ahead will shift currency traders’ focus to the pound sterling ahead of the Bank of England interest rate announcement, coupled with industrial production and wholesale inflation reports from the U.K. In preparation for the new trading week, here is the outlook for the Top 10 spotlight economic events that will move the markets around the globe. 1. AUD- Australia Retail Sales, an important gauge of consumer spending measuring sales at retail establishments, Sun., Feb. 6, 7:30 pm, ET. Despite of the floods, consumer spending in Australia is expected to register another month of increase, with retail sales rising by 0.5% m/m from 0.3% in the previous month. 2. EUR- Germany Industrial Production, the main gauge of industrial activity measuring the output of factories, mines and utilities, Tues., Feb. 8, 6:00 am, ET. After the 0.7% m/m drop in November, industrial activity in the Euro-zone’s largest economy is forecast to rise by 0.1% m/m in December.3. USD- U.S. Federal Reserve Chairman Testimony for the House Budget Committee on economic conditions and monetary policy, Wed., Feb. 9, 10:00 am, ET.Chairman Ben Bernanke’s testimony is expected to echo the statement issued at the latest FOMC monetary policy meeting, highlighting the reasons behind the Fed’s decision to stay the course and continue its ultra-accommodative monetary policy of near 0% interest rates, coupled with the $600 billion quantitative easing program of Treasury bond purchases. 4. AUD-Complete Story »
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