Here are the key factors to keep in mind today for Euro trades:
- Eurozone Confidence Data: Forex traders will receive key confidence data out of the Eurozone today. Economists expected Eurozone Services Confidence to come in at 8.8, down 0.1 point in August from July where it stood at 8.9. Eurozone Industrial Confidence is expected to come in at -3.2, down 0.3 points in August from July where it stood at -2.9. Eurozone Economic Confidence is expected to come in at 103.8, down 0.2 points in August from July where it stood at 104.0. Eurozone Consumer Confidence is expected to come in at -7.0, down 0.1 points in August from July where it stood at -6.9. The Eurozone Business Climate Indicator is expected to come in at 0.34, down 0.05 points in August from July where it stood at 0.39.
- German CPI: The German CPI is expected to decrease by 0.1% in August monthly and increase by 0.1% annualized. Forex traders can compare this to July’s increase of 0.2% monthly and 0.2% annualized. The German EU Harmonized CPI is expected to decrease by 0.1% in August monthly and increase by 0.1% annualized. Forex traders can compare this to the 0.3% increase monthly and 0.1% increase annualized which was reported for July.
Here are the key factors to keep in mind today for British Pound trades:
- UK GDP: Forex traders will get the preliminary second-quarter GDP report today and economists predict the confirmation from the previous look which showed a quarterly increase if 0.7% and an annualized increase of 2.6%.
- UK Index of Services: Good news is expected from the Index of Services report for June which is expected to increase by 0.4% monthly. This can be compare to May’s increase of 0.3%. The three month period ending June is expected to increase by 0.7%. Forex traders can compare this to the 0.4% increase reported in May.
- UK Lloyds Business Barometer: The Lloyds Business Barometer for August is expected to be reported at a level of 50. Forex traders can compare this to the level of 50 which was reported in June.
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