Last week, the U.S. market reported an increase in retail sales which supports the growing trend of the last nine months. The rise in commodity and oil prices continues to threaten CPI but at a moderate level. OPEC announced that they weren’t going to increase efforts to drill higher volumes of oil to offset the rising prices in gas. BOC decided to maintain an overnight target rate of 1% while UK inflation showed a reverse trend of the last eight months by dropping .4%. UK unemployment still remains at an undesirably high rate therefore major changes in market trends ought not to be expected.There are 6 tradable news events for this week:
.. 1. Tue April 19, 2011- 7:00 am EST- CAD Core CPI m/m
.. 2. Wed April 20, 2011- 4:30 am EST- GBP MPC Meeting Minutes
.. 3. Wed April 20, 2011- 10:00 am EST- USD Existing Home Sales
.. 4. Thu April 21, 2011- 4:30 am EST- GBP Retail Sales m/m
.. 5. Thu April 21, 2011- 8:30 am EST- CAD Core Retail Sales m/m
.. 6. Thu April 21, 2011- 10:00 am EST- USD Philly Fed Manufacturing Index
.. This week, we want to pay close attention to the BOE as the vote count and conclusions from the MPC minutes meeting are released. The Canadian and British retail numbers will hope to project an upward trend while the U.S. clings anxiously to news concerning unemployment claims.
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