Forex Daily Outlook February 28 2013

Prelim GDP in the US and CPI in the UK are the major market-movers. Let see what awaits us today.

In the US, Prelim Gross Domestic Product (GDP), yearly valuation of all goods and services that were produced by the economy, rise up to 0.5% is expected from the -0.1% on the last quarter.

Later in the US, Unemployment Claims, weekly report to value the individuals that filed for unemployment insurance for the first time; rise of 1K is due from the past week up to 363K.

More in the US, Chicago Purchasing Managers’ Index (PMI) Survey to rate the business conditions such as employment, new orders, supplier deliveries and inventories, drop down to 54.6 points is likely from 55.6 points of January.

Also in the US, Charles Evans, Federal Reserve Bank of Chicago President, is due to speak in Des Moines.

Finally in the US, Sarah Bloom Raskin, Federal Reserve Governor is due to speak in Atlanta.

In Canada, Current Account value the difference between imported and exported goods, investment income, and current transfers, -16.9B is likely now from -18.9B on the previous quarter.

Later in Canada, Raw Materials Price Index (RMPI), value the manufacturers’ price change of raw materials, rise up to 1.4% is calculated now from -2.0% on January.

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

In Europe, Consumer Price Index (CPI), value the consumers price change of goods and services, remain 2.0% similar to the previous time. Core CPI (not including food, energy, alcohol and tobacco), 1.5% is due to remain. And on the German Prelim CPI rise up to 0.7% from -0.5% on January is calculated now.

Later in Europe, German Unemployment Change shows the unemployed people over the previous month, -5K is due from -16K on the last month.

Finally in Europe, French Consumer spending value all goods expenditures by consumers, reduce down to -0.1% is expected now.

For more on the Euro, read the Euro to dollar forecast.

In Switzerland, Gross Domestic Product (GDP), value all the economy production of goods and services, reduce of 0.6% is likely from January.

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

In Japan, Household Spending value all the consumers’ expenditures, rise up to 0.4% is expected now from -0.7% on January.

Later in Japan, Capital Spending, measures all the capital expenditures that were made by businesses, reduce down to -7.0% is forecasted from 2.2% on the last quarter.

Finally in Japan, Tokyo Core Consumer Price Index (CPI), the Tokyo consumer’s price change of goods and services (not including fresh food), -0.6% is likely now from -0.5% on January.

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

Trade well


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

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