It appears that out of this week, today is the day with an abundance of economic news including rate decisions from the Eurpean Central Bank (ECB) and Royal Bank of England (BOE) as well as infromation on Retail Sales and Initial Jobless Claims in the United States.
Most experts anticipate that both central banks will leave rates unchanged at 0.5% for the UK and 1.0% for the European Union. Any deviation in those forecasts will have significant impact on the currencies. A move or talk indicating a move up should prove bullish and any move or talk in the opposite direction will increase the existing bearish sentiment.
Look for good Retail Sales information from the US and slightly higher than expected jobless claims which should cast a very slight bearish bias on the dollar.
Realizing I'm only correct a little more than half the time, I anticipate the euro and the pound to improve over last night's gain on the dollar as the yen continues to wallow waiting for Poppa to intervene.
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