10:00 GMT: EUR – German Industrial Production:
- This indicator reflects the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
- It’s a leading indicator of economic health – production reacts quickly to ups and downs in the business cycle.
- This release is expected to be lower than its previous figures.
- This means the EUR/USD could show bearishness today if it comes inline with expectations.
14:30 GMT: USD – U.S Treasury Secretary Geithner Speech
Due to testify on his department’s budget before the Senate Appropriations Committee in Washington DC
His speeches are often used to signal policy shifts to the public and foreign governments.
His speeches have had a very strong impact on the forex market lately.
However, he is not expected to say anything that could create a lot of volatility today; will likely be a muted impact.
Crude Oil tips:
- Crude Oil was trading lower during yesterday’s trading session, extending Friday’s losses as the dollar strengthened.
- As for today, crude oil might continue this downward correction.
- Target price may be as low as $67.
