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Forex Daily Outlook – June 29 2011

Pending Home Sales in the US and Core CPI in Canada are the main events today.   Here is an outlook on the market-movers awaiting us

In the US, Pending Home Sales, Pending Home Sales, Monthly measurement of homes with active agreement to be sold, not including new building, a significant rise is expected from -11.6% on May to 1.3% this month.

Later in the US, Crude Oil Inventories, barrels measurements on the last week for oil held in inventory by money-making companies, is due to remain -1.7% similar to the previous month.

Finally in the US, Sarah Bloom Raskin, member of the Board of Governors of the Federal Reserve System is scheduled to speak.

In Canada, Consumer Price Index (CPI); monthly measurement to value the price of services and goods bought by costumers, is about to reduce from 0.3% on May to 0.2% this time. Meanwhile the Core CPI without the value of food and energy is due to remain 0.2% like on the previous report.

For more on USD/CAD, read the  Canadian dollar forecast.

In Great Britain, Net Lending to Individuals, monthly measurement to value the amount of new credit cards that were issued over the last month to customers, 1.2 billion is expected like on the previous report.

Later in Great Britain, GfK Consumer Confidence, monthly survey of 2000 customers, to value of previous and upcoming economic condition, continue with the pessimism reduce from -21 points to -23 points.

More in Great Britain, Mortgage Approvals, monthly report to measure the amount of new house mortgages approvals on the passing month, about to rise to 46K.

Also in Great Britain, M4 Money Supply, monthly indicator to value the all amount of domestic currency in bank flow, about to rise to 0.3%.

Finally in Britain, Index of Services, monthly report to value the amount of Gross Value Added (GVA) in private and management services sectors

Read more about the Pound in the  GBP/USD forecast.

In Switzerland, KOF Economic Barometer, monthly index to forecast the economy direction on the 6 upcoming months based on 12 financial indicators, is about to reduce from 2.30 points on May to 2.23 points this month.

More in Switzerland,

Read more about the Swiss franc in the USD/CHF forecast.

In New Zealand, Building Consents, report Released monthly to measure the number of Building Permits that were supplied; -1.6% is expected like on the previous month.

For more about the kiwi, see the NZD/USD forecast.

In Japan, Manufacturing Purchasing Managers’ Index (PMI); monthly survey of 300 managers to value the business conditions including in the manufacturing industry, indicate growth with 51.3 points, similar to the previous month.

Read more about the yen in the USD/JPY forecast.

Happy forex trading

Anat Dror

Anat Dror

Anat Dror Senior Writer I conceptualize, design and create multi-lingual websites. Apart from the technical work, my projects usually consist of writing content for these sites in English, French and Hebrew. In the past, I have built, managed and marketed an e-learning center for language studies, including moderating a live community of students. I've also worked as a community organizer