News for Forex Trading

Some of the biggest news of the day comes from Canada as the country suffered a drop of 14% in their daily average turnover of foreign exchange products in October. It dropped from 61.2% in April to 54.4%. It was the first decline since April 2009.
The survey is conducted two times annually and is an indicator of the global foreign exchange market. It uses data conducted from eight major banks with large foreign exchange activity in Canada.
There has been plenty of other news that has impacted the markets. In the US, the news has been mostly good. Unemployment rates continue to drop while factory orders were up in December. For the coming week, no major reports will be released. However, consumer credit for December will be released on Tuesday.
Europe has much more going on to affect the Forex market this week. Talks in Greece are resuming today and the Greece Prime Minister has threatened to resign if his new financing plan is not backed.
The Netherlands and Germany will release inflation information from January on Tuesday. Germany wholesale prices from January may also be released sometime during this week.
The Governor of Japan, Masaaki Shirakawa, announced that Japan’s deflation is severe. The Economy Watcher’s report for January is expected to be slightly better than December’s report. This is due to the fact that businesses are experiencing weak demand. Unemployment news will also be released for Japan, which is expected to show some improvement as the ratio between jobs and those applying improves.
Due to a stronger market for cars, metal is expected to show a gain on Domestic Corporate Goods Price Index. The overall total should show an improvement.
Overall job ads for Australia showed an improvement, the largest since February 2010. Retails sales fell slightly but retail volumes rose.