Here are the key factors to keep in mind today for Euro trades:
- Eurozone Current Account Surplus: Forex traders should look for a strong current account surplus out of the Eurozone. Economists expected the current account surplus to increase to €18.4 billion in February from January’s current account surplus of €8.2 billion. The Eurozone may struggle on the economic front, but despite this the finances seem to be in order as the Eurozone continues to print twin surpluses in both its current account as well as its trade balance.
- Eurozone CPI: Economists expected the CPI to show an increase of 1.1% in March. Forex traders can compare this to the 0.6% increase reported in February. This would be a very bullish sign for the Euro during today’s trading session. The final reading for the annualized CPI is expected to remain unchanged and show a contraction of 0.1%. The final reading for the annualized core CPI is also expected to remain unchanged and show an increase of 0.6%. The European Central Bank will keep a close eye on inflation data as it started to interfere in the Eurozone bond market.
Here are the key factors to keep in mind today for British Pound trades:
- UK Employment Change: Expectations call for the addition of 170,000 jobs in the three-month-over-three-month period which ended February while the ILO unemployment rate is expected to decrease by 0.1% to 5.6%. Forex traders can compare this to the addition of 143,000 jobs in the three-month-over-three month period which ended January when the ILO unemployment rate stood at 5.7%.
- UK Jobless Claims Change: Economists expect jobless claims to have decreased by 29,500 in March while the claimant count rate is expected to come in at 2.3%. Forex traders can compare this to the data in February which showed that jobless claims contracted by 31,000 and the claimant count rate was reported at 2.4%.
- UK Average Weekly Earnings: Expectations call for average weekly earnings to have risen by 1.8% in the three-month-year-over-year period which ended February while average weekly earnings excluding bonuses are expected to have risen by 1.7%. Forex traders should compare this to the 1.8% increase reported in average weekly earnings for the three-month-year-over-year period which ended January and to the 1.6% increase reported in average weekly earnings excluding bonuses.
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