Here are the key factors to keep in mind today for Euro trades:
- German PPI: The German PPI is predicted to decrease by 0.2% in October monthly and and by 2.0% annualized. Forex traders can compare this to the September PPI which decreased by 0.4% monthly and by 2.1% annualized. The ECB may find it difficult to manage monetary policy properly as deflation continues to expand throughout the Eurozone economy.
- Eurozone Consumer Confidence: Eurozone Consumer Confidence for November is predicted at -7.5. Forex traders can compare this to October Eurozone Consumer Confidence which was reported at -7.7. Overall consumer confidence has been depressed in the Eurozone.
Here are the key factors to keep in mind today for Canadian Dollar trades:
- Canadian Retail Sales: Canadian Retail Sales are predicted to rise by 0.1% in September monthly. Forex traders can compare this to August Canadian Retail Sales which increased by 0.5% monthly. Canadian Retail Sales Less Autos are predicted to decrease by 0.4% in September monthly. Forex traders can compare this to August Canadian Retail Sales Less Autos which were flat at 0.0%. The Canadian economy has struggled with the aftermath of the commodity rout which puts less money in the pockets of consumers dependent on jobs from the commodity sector. This could explain the expected slump in Canadian Retail Sales and Canadian Retail Sales Less Autos.
- Canadian CPI: The Canadian CPI for October is predicted to rise by 0.1% monthly and by 1.0% annualized. Forex traders can compare this to the Canadian CPI for September which decreased by 0.2% monthly and rose by 1.0% annualized. The Canadian core CPI for October is predicted to rise by 0.2% monthly and by 2.0% annualized. Forex traders can compare this to the Canadian core CPI for September which increased by 0.2% monthly and by 2.1% annualized. The seasonally adjusted Canadian CPI for September is predicted to increase by 0.2% monthly and the seasonally adjusted Canadian core CPI is predicted to increase by 0.2% monthly. Forex traders can compare this to the seasonally adjusted Canadian CPI in August which decreased by 0.2% monthly and to the seasonally adjusted Canadian core CPI which increased by 0.2% monthly.
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
