Watch out for today’s events:

8:30 GMT: GBP -Claimant Count Change

- This is the most important release of the week for the British pound. This is the earliest employment figure in Britain.

- The British Pound made attempts to rise in the past week, but finished lower. All in all, the Pound is trading in a range defined by two lines: 1.5720 supports from below and 1.6130 from above.

- The number of people claiming unemployment benefits has been on the rise since April 2008. In the last three months, the rise has stabilized at about 24K. This time, it’s expected to rise to 25K, not so hopeful.

- The number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor conditions

9:00 GMT: EUR – Industrial Production

- It’s a leading indicator of economic health – production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings.

- The EUR/USD had a good week, regaining the losses of the previous week, and closing higher up its trading range. The pair made a nice and steady rise during the week. It climbed up to 1.4764, easily breaking the minor resistance line of 1.4720.

- After falling in the last two months, Europe’s industrial production is expected to rise neatly – 0.9% this time. Expectations are built on the German and French releases that were made earlier

12:30 GMT: USD – Retail Sales

- This is the earliest and broadest look at vital consumer spending data.

- It’s the primary gauge of consumer spending, which accounts for a majority of overall economic activity.

- A positive figure here could increase risk appetite and continue the USD’s bearishness.