Important International Events And Data Releases For The Week 16th July-20th July,2012:

Important events and data releases for the week starting from 16th July are as follows:

Important Events From United States:

• Retail Sales:It is important data release.It measures the change in total value of inflation-adjusted sales at retail levels.Expected reading is 0.2% versus previous of -0.2%.Higher than expected reading is bullish for US dollar.This data will be released on July 16,Monday,13:30 GMT Or 8:00 PM IST.
• Core Retail sales:It is also high important data and it measures the change in total value of sales at the retail level,excluding automobile industry.It will be released along with Retail sales above.Higher than expected data is bullish for US dollar.
• Fed Chairmans testification before US Congress:The speech of Fed Chairman can create volatility in currency market due to remarks on current economic situations.Fed chairman will be testified on Tuesday and Wednesday,15:00 GMT,7:30 PM (IST).
• Inventory Releases: Crude Oil  and Natural Gas inventory will be released on Wednesday and Thursday respectively,, 15:30 GMT OR 08:00 PM IST.Both releases have immediate impact on crude oil / Natural Gas prices.
• Core CPI:The Core Consumer Price Index is an imp release and measures the changes in the prices of Goods and services , excluding food and energy.Expectations are of slightly increase in the index from 2.2 to 2.3%.Higher than expected reading will be positive for USD.The core CPI will be released on Tuesday,July 17,13:30 GMT or 8:00 PM IST.
• Housing Starts And Building Permits:Both of the releases are of medium importance and measures strength of housing sector in US.Better than expected reading is positive for USD.Both datas will be released on Wednesday,18th July,13:30 GMT or 8:00 PM IST.
• Initial Jobless Claims:This is of high importance data release and will be released on Thursday,19th July 2012,13:30 GMT Or 8:00 PM IST.It measures the number of individuals who filed for unemployment insurance for the first time during the past week.Expectations are of increase in numbers to 370 K than previous 350K.
• Existing Home Sales:This is of high importance and will be released on Thursday, 15:00 GMT Or 9:30 PM IST.Expectations are of slightly increase in the number of sales to 4.64M from previous 4.55M.

Important Events From EuroZone:

There are not much important events for this week from Euro Zone except Euro Consumer Price Index (CPI) on Monday,16 July and German economic sentiments on Tuesday.

Traders from currency and commodity markets should keep track of important international events since these releases tends to create volatility across the markets and which can prove good earning opportunity.