|09.30||EUR||HIGH||ECB President Draghi Speaks|
|14:00||EUR||Medium||German Buba President Weidmann Speaks|
|14:30||USD||HIGH||Building Permits (Oct)||1.247M||1.225M|
EXPLANATION OF THE ECONOMIC NEWS
1. Mario Draghi (born 3 September 1947) is an Italian banker and economist who has been governor of the Bank of Italy and succeeded Jean Claude Trichet as President of the European Central Bank starting November 2011. As head of the ECB, which controls short term interest rates, he has more influence over the EUR value than any other person. His comments may determine a short-term positive or negative trend.
2. Deutsche Bundesbank (Buba) president Jens Weidmann is to speak. As president of the Bundesbank and a member of the ECB, which controls key short term interest rates, Weidmann has some influence over the EUR value. His comments may determine a short-term positive or negative trend.
3. Building Permits measures the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.