Overnight, the UK CPI came out much higher than expected at +3.0% year on year.  This will keep the UK on hold with regard to rates in June just when the growth side of the economy could use the stimulus – especially in the housing sector.  The Retail Price Index also had strong increases, with the YoY measure rising to 4.2%.  The high inflation coupled with expected weak economy sent GBP pairs lower this morning.   

In the US today, the Retail Sales will be reported along with the Import Price Index at 8:30 AM.  Then at 10:00 the Business Inventories will be announced.  Throughout the day, varies Fed Officials will also be speaking including Bernanke at 8:20 AM..  "

Later this evening there are some economic releases out of Japan and Australia. "

Click on the attached PDF file to get a preview of the economic releases for the day. Thank you for choosing FXDD and have a profitable day trading.