USD : On the US front this week it all starts with Existing Home Sales data for the month of December. On Tuesday we see the release of Consumer Confidence data. The Conference Board index has the largest pooling sample of any U.S. measure of consumer confidence. Consumer Confidence levels are generally linked with consumer spending; we should see some volatility with the USD upon this data release. All eyes will be on the Wednesday's FOMC rate decision. The forecast is that the Federal Reserve will leave rates at 0.25%. On Thursday is the release of Durable Goods data for the month of December, this figure serves as an excellent forecast of U.S. output to come. Also on Thursday is the release of US New Home Sales data for the Month of December. Finally on Friday the University of Michigan's Consumer Confidence data should provide some interesting trading patterns for the Big Dollar against the other majors. Click here to view a live chart

AUD : There is a bucket of data out this week which should provide traders with a closer insight into the current economic situation in Australia. It all starts with the release of the Producer Price Index for Quarter Four and the NAB Business Confidence report for the Month of December. All eyes will be on the NAB Business Confidence report as it is a leading indicator into the current state of the business sector in Australia. On Wednesday is the release of Consumer Price Index for quarter four. Wrapping up this week with Thursday's release of Conference Board Leading Index. This data is used to forecast short to mid-term growth in the Australian economy. Click here to view a live chart

NZD : The only significant data out of New Zealand this week which will have an impact on the Kiwi Dollar will be Thursdays Reserve Bank of New Zealand rate decision. Currently the official cast rate is at 5.00% with a forecast that the RBNZ will further cut rates by 1.00% to 4.00%. With the interest rate differential between the New Zealand and the remainder of the world slowly eroding there is no doubt that the bias towards Kiwi Dollar selling will continue. Click here to view a live chart

GBP : On the data front this week in Australia is fairly light. The only significant data out of the UK this week which will have an impact on the Sterling will be Thursday's release of Nationwide House Prices data for the month of January. This data is a measure of the housing Market in the United Kingdom. On Friday is the release of GFK Consumer Confidence Survey for the Month of January. Also the release of Mortgage Approval data which is forecast to be down from the previous month from 27K to 26K. Click here to view a live chart

EUR : Another week dominated with the release of German economic data. It all starts on Tuesday with the release of German IFO Expectations and Current Assessment. On Wednesday we see the release of German Consumer Price Index for the month of January. This data this is considered extremely high amongst traders as it is a key indicator towards inflation. Also out on Wednesday is German GFK Consumer Confidence Survey. On Thursday is the release of German Unemployment data for the month of January. With the forecast for the unemployment figure to increase from 7.6% to 7.7% is generally not a good sign for their economy. On Friday is the release of German Retail Sales data for the month of December. The forecast is for an increased percentage up from 0.7% to 1.0%. Click here to view a live chart

JPY : On the data front this week in Japan we start with some high key releases, beginning on Monday with the release of Japanese retail Trade for the month of December. The report serves as a direct indicator of consumption and consumer confidence. On Thursday is the release of the Tokyo Consumer Price Index, forecast is expected to be down from last month from 0.7% to 0.6%, which should see more weakness in the Yen. Click here to view a live chart

CAD : Canadian data is fairly thin this week and the Canadian Dollar will no doubt take direction from offshore events and announcements. There are 2 key events this week that will provide direction for the Canadian Dollar starting on Thursday with the release of Raw Materials Price Index for the month of December. On Friday we see the release of Canadian Gross Domestic Product data. This data is a significant report in the foreign exchange market, serving as one of the primary indicators of a country's overall economic health. The forecast is for a continued deterioration of the economy with a negative reading from -0.1% to -0.5%. Click here to view a live chart

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