In Europe, there are a few figures: Final Services PMI is expected to stay stable at 44.7. PPI is expected to fall by 0.9%. Deflation rules in Europe. Revised GDP is predicted to show no change from the initial call, and remain at a fall of 2.5%. Since this is a late figure, it won’t have too much influence.
In Britain, Services PMI is expected to rise from 48.7 to 49.4. If the figure surprises and passes the 50 mark, this means optimism in the UK.
For a special coverage of the Pound read: Britain’s Got Talent.
In the US, ADP Non-Farm Employment Change is expected to fall by 525K jobs, somewhat worse than last month’s fall of 491K. This figure swings a lot, and despite its importance, it’s not really an indicator for the NFP on Friday.
ISM Non-Manufacturing PMI is predicted to rise cautiously from 43.7 to 45.1 This is the complementary release to the Manufacturing PMI published earlier this week and was better than expectations. Will this surprise as well?
The PMI release will be overshadowed by a testament by Ben Bernanke. What will he tell the House? Will he be optimistic or pessimistic? His careful words will be closely watched.
Also in the US, Factory Orders are predicted to turn positive, and rise by 0.7%. Well, this is optimistic…
Just before midnight GMT, Japanese Capital Spending is expected to drop by 27.1%. It’s hard to get good news from Japan these days.
Happy forex trading!
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