European Inflation Data and ECB Speech to Drive Forex Trading
March 19th, 2010 Posted in Daily Forex News
Today’s trading could be influenced predominantly by the European markets. The Greek debt crisis has yet to be resolved as the major parties involved jockey for both a fitting solution to the problem and a political victory. European Central Bank President Jean-Claude Trichet will speak today, perhaps providing insight into the progress of the talks.
07:00 GMT EUR German PPI
- After a strong and surprising rise of 0.8% last month (double the expectations), Germany’s producer prices are expected to rise by 0.1% this time supporting the EUR further.
07:45 GMT EUR ECB President Trichet Speaks
As head of the ECB, which controls short term interest rates, he has more influence over the euro’s value than any other person. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues. His speech in will probably shake the EUR/USD, perhaps to the support level of 1.3510.
12:30 GMT CAD Core Retail Sales/ Retail Sales
Just 90 minutes after the CPI release, another important indicator is due. Retail sales are expected to rise by 0.6% after the 0.4% rise last time, and core retail sales are predicted to rise by 0.5%. Consumer confidence, seen in sales volume, is important for pushing the Canadian dollar higher to 1.0220.
Start trading with Natalie R. now:
Tags: EUR/USD, Forex Trading, German PPI, Retail Sales
