After a lot of important economic data in the beginning of week Wednesday will be calm. Of course it doesn’t mean that trading today will slow down. Investors wait for UK data which can have influence for the Pound.

Asian session was not really interesting – we just got to know Australian wage price index. It was a little weaker than expectation – 0.4% vs 0.5%. We should not connect AUDUSD reaction with this report, pair just reached upper bound of the consolidation from last few days and bears were activated next to 0.7570. Currently pair is after test of lower bound of consolidation at 0.7523 and is raising again.

What are we still waiting for?

Today we wait mostly for two things. Firstly, in less than an hour there will be publication about UK’s job market. We will know unemployment rate, claimant count change and average earnings index.

Another interesting point of the day will be after noon, at 1:30 PM (GMT). First we will know American Producer Price Index which should stay unchanged at 0.2%. According to the markets Canadian manufacturing sales will get weaker and drop to 0.1%.

At 3:30 PM EIA will publish weekly report about oil stocks change. Markets expect decrease to the level of 1.48M what should raise oil price: