News of the day. Wednesday 02.12.2015

December 2, 2015

Out of macroeconomic publications that traders need to pay attention to today, important releases are due from the US, Canada and the eurozone. Data on inflation is due at 12 pm (all times stated in GMT+2) in the eurozone. On a year-to-year basis, the Consumer Price Index is expected to grow from 0.1% to 0.2% against the previous month, while the Producer Price Index is expected to fall by 3.2% against the previous year, and from -0.3% to -0.4% against the previous month. The Producer Price Index has been falling for some time now, but it does not get critical for the economy of the eurozone yet. The ADP Employment Change is due at 3:15 pm in the US and the data should present a growth of 190 thousands new jobs, against the previous figure of 182 thousands, which will support the US Dollar if confirmed. The BoC Interest Rate Decision and BoC Rate Statement are due at 5 pm in Canada. The rate is expected to remain unchanged at 0.5%, while the statement will explain the factors affected the decision. Fed’s Yellen Speech is due at 6 pm, in which she will tell her view on the nearest future of the US economy and which might cause an increase in market volatility. The Fed’s Beige Book is due at 9 pm that contains data on economic conditions in 12 Federal districts in the US. Strong figures might support the USD. On Wednesday night at 3:30 am, October data on Exports, Imports and Trade Balance is due in Australia. A trade deficit is forecasted to increase from -2.317 to -2.665 billion AUD that could pressure the national currency if figures are confirmed. 

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