Forex Daily Outlook – March 29 2011
CB Consumer Confidence in the US and Current Account in the UK are only a few of the highlights. Let’s see what awaits us today.
In the US, The Conference Board (CB) Consumer Confidence, Survey of about 5,000 households which asks respondents to rate the relative level of current and future economic conditions including labor availability, business conditions, and overall economic situation is due to be 64.9 points.
Later in the US, Standard & Poor’s (S&P) / Case-Shiller (CS) Composite-20 House Price Index (HPI); is about to reduce by 0.7%. Rising house prices attract investors and spur industry activity.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, GfK German Consumer Climate, Survey of about 2,000 consumers to rate the relative level of past and future economic conditions, is due to be 5.9 points. Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity.
Also in Europe, German Prelim Consumer Price Index (CPI), is about to droop down by 0.1%. Consumer prices account for a majority of overall inflation
Finally in Europe, French Consumer Spending, total value of inflation-adjusted goods expenditures by consumers is about to rise by 1.1%. The primary gauge of consumer spending, which accounts for the majority of overall economic activity
For more on the Euro, read the EUR/USD forecast
In Great Britain, Current Account is due to reduce by 0.7B. Directly linked to currency demand.
More in Great Britain, Final Gross Domestic Product (GDP); is due to remain -0.6%. It’s the broadest measure of economic activity and the primary gauge of the economy’s health.
Finally in Britain, Net Lending to Individuals, total value of new credit issued to consumers; is about to reduce by 0.3B. Correlated with consumer spending and confidence.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, UBS Consumption Indicator is about to be 1.68 points.
In New Zealand, Building Consents, number of new building approvals issued is about to be 9.6%. Leading gauge of future construction activity
In Japan, Prelim Industrial Production, total inflation-adjusted value of output produced by manufacturers, mines, and utilities is about to reduce by 1.3%.
That’s it for today. Happy forex trading!
