U.S. Long-Term Purchases on Tap
March 15th, 2010 Posted in Daily Forex News
Following a disappointing U.S. Consumer Sentiment result on Friday, the most significant trends in the market seem to be the bearish crude oil and the drop of the Dollar against the Euro. Today, several publications are expected from the U.S. economy, and have the potential to extend the trends or to reverse them. Traders are also advised to follow every report regarding the potential Euro-Zone’s rescue plan for the Greek economy. If the Euro-Zone will declare a final plan, this is likely to boost the Euro, as an act of confidence in the European economies.
Here are today’s leading publications:
• 08:15 GMT, Swiss Producer Price Index (PPI) – This report measures the change in the price of goods and raw material purchased by manufacturers. If the end result will reach above 0.3%, it has potential to support the CHF.
• 13:00 GMT, U.S. Long-Term Purchases – This indicator measures the difference between foreign long-term securities purchased by U.S. citizens to securities purchased by foreigners. A result above the expected 50.3B will show the foreign investors have confidence in the U.S. economy, and the Dollar might rise as a result.
• 13:15 GMT, U.S. Industrial Production – It is a leading indicator of economic health. Production is highly correlated with consumer conditions such as employment levels and earnings, and thus tends to have a large impact on the Dollar. A negative figure could drop the Dollar once again today.
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Tags: EUR, EUR/USD, Forex Trading, U.S. Long-Term Purchases
