European M3 Money Supply Figures Today!
December 30th, 2009 Posted in In-Depth Analysis
9:00 GMT EUR M3 Money Supply
- Change in the total quantity of domestic currency in circulation and deposited in banks.
- The amount of money in circulation has grown very slowly in recent in months. Not only has it slowed down, it fell short of expectations in the past 4 months, reaching a rock bottom 0.3% growth rate last month.
- A lower than expected result may cause more trouble for the Euro.
14:45 GMT USD Chicago PMI
- It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.
- Survey of purchasing managers in Chicago which asks respondents to rate the relative level of business conditions. Above 50.0 indicates expansion, below indicates contraction. The Purchasing Managers’ Index (PMI) gained to 55.2 in December from 53.6 in November, adding to economic recovery signs in the U.S.
- The Dollar may gain against the EUR for a 3rd day if the actual result comes in line or higher than expected. Should the EUR/USD fall below $1.43, the greenback will probably extend gains before meeting support at $1.4220 and $1.3980
15:30 GMT USD Crude Oil Inventories
- Change in the number of barrels of crude oil held in inventory by commercial firms during the past week. It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods.
- Oil increased for a fifth day as heating oil rose to a two month high, raising hopes that Oil demand is recovering. Although this indicator has no consistent effect in the market, with the greenback strengthening against the euro and holiday illiquidity, spot crude may be looking to test key $80 resistance today.
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Tags: currency trading, daily forex tips, dollar, Euro, euro support levels, Forex Trading, m3 money supply, Pound, spot crude oil
