Dukascopy Economic Calendar 310809 Louise McCauley

Hello and welcome to the economic calendar broadcast covering this business weeks first day August 31st. Louise McCauley in Dukascopy TV Center with a summary of the few potential market influences.
Eurozones Flash HICP for August is reported at 9 AM. Year on year reading posted in July was revised point 1% up, with the month on month change in core data at 1.3%. As current expectations are for recession to cease sooner than previously feared and further deflation is seen as an unlikely prospect, ECB could start devoting more attention to inflationary pressures.
Two remaining events both come from North America and are both likely to move the rates. 2nd Quarter Canadian GDP is published at 12:30, along with the monthly change for August. In the last release, the countrys annual GDP contraction came in at 5.4%, which was less steep than predicted. The monthly change was point 5% in the red, with closure of auto factories dragging the manufacturing sector lower. Weak spending hampered both sides of the trade balance, with imports falling 7.4% faster than exports.
Chicago PMI for August, which is out at 1:45 GMT, is the last item on agenda. A rise in the index lead to forecasts for growth firmly establishing itself in the second half of the year. This was further supported by details of the report, including expectations for a large rebound in vehicle production, as well as other macro-economic data.
That concludes Mondays calendar. Join us next time for Tuesdays list of events, important for the currency traders.

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