Forex Traders Keep Your Eyes Open - A Bevy of Currency Data Tomorrow

May 19, 2008

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Tomorrow will be one of those fun days to watch the ticker, as a slew of data will be coming from around the world. I always love watching the morning ticker while at the gym on these days. Keeps my emotions in check, and on rare occasion I met another investor/trader when I see faces reacting with glee/horror to the latest report.

Anyways, the reports. Overnight, the Japanese Central bank will meet and decide on rates. They are expected to hold steady at 0.5%. A shocker, eh?

Also overnight, the German ZEW sentiment will be reported. Some traders think a positive report will lead the Euro out of the $1.53 - $1.56 range. Interestingly, Trichet came out today warning that the Credit Crunch is still ongoing, but inflation remains the top concern. Combine that with France's weak GDP number (0.3% expected for Q2, half of Q1) and methinks things may not look rosy for the Germans. Of course, the fine folks at Barclay's disagree, and the UK actually saw a rise in home prices (wtf?!).

And finally, the US producer price index will be released tomorrow. The German ZEW and US PPI can definitely move things, so watch for any break through of the Euro range!
Bank of Japan, ZEW Survey, PPI, interest rates, BOJ