Retail sales in the UK and a meeting of European Union leaders in focus today.
1. European session today begins with data on the trade balance at 09:00 from Switzerland where he is expected to keep the level of 3.26 billion. At the same time expect the prices of exports and imports, it does not expect any changes from the previous, respectively 4.7% for exports and 2.7% for imports. The data will have limited impact on the market.
2. At 11:00 follows IFO business climate in Germany, which is expected to improve to 105.5 compared to 104.7 for the previous period. At the same time and the results will come for business conditions, forecasts are for an increase to 110.8 compared to 110.0 for the previous period, while business expectations, which are also from 11:00 forecast to increase to 100.5 compared to 99.7 points. Better data are likely to enhance the euro.
3. At 11:30 the attention of investors will focus on retail sales in the UK, where it is expected to decrease 0.4% to 0.8% for the previous reporting period for monthly and 4.4% compared to 4.3% in annual basis. Decrease is expected in retail sales without cars, where forecasts are for 0.3% to 0.8%. Expected increase in the volatility of the pound and the possible reduction of the currency if the forecasts come true.
4. 12:00 anticipated results for the orders in the construction sector in the Eurozone. Estimates are for preserving levels of -1.8% to -1.7% monthly and annual basis. The results will have a limited impact on the market.
5. The balance of payments is expected at the same time in Italy, and the results of previous period showed 636M
6. American session starts with US data for applications for unemployment benefits, where he is expected to keep the level of 294K. Change data will increase the volatility of the market, it will affect the movement of the dollar after Release.
7. At 16:45 will turn our attention to the PMI index in the services sector, which is expected to rise to 56.3 points compared to 56.2 last month, which could support the dollar.
8. At 17:00 we expect index data of the Federal Reserve in Philadelphia, which is expected to drop to 26.0 points compared to 40.8 points, if you meet the expectations we may see a slight decrease in the dollar.
9. At 17:00 was the meeting of leaders of the European sayuzh in Brussels, where he will decide important issues on the development of the Union and the future economic and political paths. Expected increase in volatility in the euro at the time.
10. Also at 17:00 are data index of leading indicators in the US which is expected to weaken to 0.5% from 0.9% in the previous reporting period.
11. Important news ends at 17:30 from USA, when data on stocks of natural gas. In the previous period results showed -51 points, they are expected to continue.