It is the retail sales figures that are possibly going to cause the value of GBP to move in one direct or the other today, and as such as somebody who is planning on placing any number of Forex and currency pairing trades on the value of UK Sterling, you are going to have to try and predict just what those figures will be.
Keep in mind that the last set of figures regarding UK retail sales showed a 0.50% drop, however it has been predicted that those figures will show an increase the time around of about 0.20%.
The only additional market events today from the UK will be the release of the CB Leading Index m/m, bit from a trading point of view all eyes will be on those retail sales figures, and they are going to be the only ones that traders will be keeping their eyes on and will already have made their minds up as to what they think those figures will reveal.
EU Data Released Today
There are going to be just two market events today regarding the EU and it will be the German WPI m/m and the EU Trade Balance figures that will be revealed, and I doubt there are going to be any major surprises in those figures that are going to make the markets nervous.
However, it is always going to be the case that it is what other countries data, facts and figures that will either see the EU gain in value today or possibly drop in value today instead.
US Market Events Today
There are going to be four sets of market data that will be released today over in the USA, and those facts and figures that will be revealed should make very interesting reading and when could with the additional market data released today’s by the UK and the EU as mentioned above, may just cause some currencies to move in value in one way or another.
The data that is being realised today in the US are the Building Permits and Housing Starts data, which is always very revealing, and also the Philly Fed Manufacturing Index data along with the current US Unemployment Claims figures.