This week brings a busy economic calendar starting on Monday with US durable goods orders. Durable goods orders reflects the total value of new orders for long lasting products. Investor will be expecting a lower reading compared to the previous period. The national association of realtors will also release its pending home sales report.
Japan retails sales are also expected to have decreased. But it shouldn’t add much pressure to the Japanese currency, unless that the reading is lower than expected. The Japanese Yen have been trading higher recently after the bank of Japan announced that it will fight deflation.
On Wednesday, the US market will await a much expected grow domestic product announcement. The stock market would like to see a healthy economic growth, as well as US currency traders. The US interest rate shall remain stable.
Thursday’s main topic will be the US jobless claim. Which would have probably increased compared to the previous week. Canada’s GDP and German CPI would also be announced along with German and Greece retail sales.
Friday’s focus will turn to the European zone. Italia, France, German and Spain will report their manufacturing purchasing managers index. While in the US the new home sales report will be released.