Forex Daily Outlook – August 17 2011
PPI in the US and MPC Meeting Minutes in the UK are the main events today. Here is an outlook on the market-movers awaiting us
In the US, Producer Price Index (PPI), monthly report to measure the finished goods and services prices, is about to rise by%. While in the Core PPI (excluding food
and energy) reduce is expected from 0.3% on July to 0.2% this month.
Later in the US, Crude Oil Inventories, weekly report to value the change crude oil, further reduce is estimated from -5.2% on the last Inventory to -0.4% this time.
In Canada, Foreign Securities Purchases, the Whole value of local stocks, bonds etc. reduce from 15.40B on July to 10.33B this month is anticipated.
For more on USD/CAD, read the Canadian dollar forecast.
InEurope, Consumer Price Index (CPI) monthly measurement to value the price of services and goods bought by costumers, 2.5% is anticipated with no change from the previous report, meanwhile the Core CPI measurement without the value of food and energy, is about to rise by 0.1% to 1.7%.
More in Europe, Current Account, measuring the values of current businesses, interest costs, services and goods, is due to slightly rise from -5.2B on July to -3.6B.
For more on the Euro, read the Euroto dollar forecast.
In Great Britain, Claimant Count Change, value of the benefits related to unemployment on the prior month, reduce from 24.5K on July to 20.1K this time is likely.
More in Great Britain, Monetary Policy Committee (MPC) Meeting Minutes releases the minutes from the last Monetary Policy Committee meeting where interest rate is set. The minutes provide the reasons leading to this decision. In the Previous minutes 2 voted to raise rates against 0 voting to reduce it and 7 to hold the rates, this month no chance is expected.
Later in Great Britain, Average Earnings Index, important indicator to measure the price labor payed by the industry and government 2.3% is forecasted with no change from the last month.
Finally in Britain, Unemployment Rate 7.7% is expected with no change.
Read more about the Pound in the GBP/USD forecast.
In Australia, Melbourne Institute (MI) Leading Index, a compilation of 9 financial indicators intended to forecast -0.1% is expected now similar to the previous time.
More in Australia, Wage Price Index, value of the labor payment for industry and government, a rise of 0.1% is forecasted to 0.9%.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Trade Balance, measuring the price of export and. Import to determine trade surplus or deficit, slightly rise is expected from -0.19T on July to -0.12T this month.
More in Japan, Read more about the yen in the USD/JPY forecast.
Happy forex trading
