Daily Forex News – The day kicks off with the ZEW survey for April. This is a survey of analysts, not companies, and reflects their sentiment towards the economy. The expectations index, the more important of the two, is forecast to show the second consecutive improvement. With the DAX index up 0.8% since last month’s release and continued rises in employment, this seems likely to me. EUR-positive.
US housing starts and building permits for March are forecast to tell a mixed story: housing starts slightly lower, but permits (the more forward-looking of the two) higher. Against the background of Monday’s unchanged NAHB housing market index, which has been stuck at the same level for three months now, this mixed picture seems to accurately reflect the slow but consistent recovery in the housing market. USD-neutral.
After that, investors will be sitting back and listening to several central bankers speak. First is RBA Gov. Stevens, who will speak on “Observations on the Current Situation” at the Credit Suisse 2016 Global Macro Conference in New York. He’s talking after the minutes of the recent RBA meeting will have been released. I therefore wouldn’t expect any major revelations.
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