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Forex Daily Outlook – July 28 2011

Unemployment Claims & Pending Home Sales in the UK are the major market-movers. Let see what awaits us today.

In the US, Unemployment Claims, weekly valuation of the new unemployed that were asking for insurance, droop down from 418K last week to 413K this week is expected.

Later in the US, Pending Home Sales, important report that is released monthly to value new build households before they are been sold, a significant drop down is expected this time from 8.2% on June to -1.5%.

Finally in the US, Natural Gas Storage is due to reach 38B.

In Europe, German Unemployment Change, measures the monthly change in the number of unemployed, due to further reduce from -8K on June to -15K now.

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

In Great Britain, Confederation of British Industry (CBI) Realized Sales, Survey (around 160 retail and wholesale companies) to measure the  current sales volume, is about to rise from -2 points to 1 this month.

More in Great Britain, GfK Consumer Confidence, Monthly Survey (around 2,000 customers) to value the current and upcoming financial conditions, further reduce from -5 points on June to -6 this time is expected.

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

In New Zealand, Building Consents, important and main monthly measurement to value new building approvals issued, due to remain 2.2% that is similar to the previous month.

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

In Japan, Prelim Industrial Production important monthly measurement to value the output produced by manufacturers, about to reduce to 4.6% this time from 6.2%.

More in Japan, Tokyo Core Consumer Price Index (CPI), measurement to value the price of services and goods acquired by clients in Tokyo (excluding fresh food), due to rise to 0.2% this time from 0.1% on the last month.

Later in Japan, Household Spending, account for the Consumer spending over the previous month, is due to further reduce to 1.9% on June to -2.2% this month.

Also in Japan, Manufacturing Purchasing Managers’ Index (PMI) 50.7 points are forecasted with no changes from the passing month.

Furthermore in Japan, National Core CPI is due to reduce to 0.5%

Finally in Japan, Unemployment Rate is about to rise to 4.7%.

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

Trade well

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