Traders Await The US Trade Balance

Despite appreciation which the dollar experimented over the last days it changed its direction after the publication of the Meeting Minutes of the FOMC, from September 9. Yesterday, there were no important news events in the US ,however today we expect the Trade Balance, which measures the difference in value between imported and exported goods and services, and the forecast is a little down from the last figure of -59.3B .Thus ,we foresee an anxious trading day brewing . At the same time, The Import Price Index is due to be published, which is supposed to come up at 1.0% leaving negative territory of -0.3% that may have a positive influence on the USD ,and also at 12:30 GMT The Unemployment Claims is expected to released at 315K with a previous figure of 317K as traders hope to get a “message” from the US economy regarding jobs employment which may have implications on a possible recovery of the economy after the last strong NFP which some analysts translated as a signal of the USD recovery that will start the appreciation of the Greenback against the majors and especially against the EUR .

Later on, we have the Crude Oil Inventories and after all the data traders will expect to hear an implications on the future monetary policy from the Fed Governor Kroszner .