Forex Daily Outlook March 5 2013



ISM Non-Manufacturing PMI in the US and Services PMI in the UK are the main events lined up.  Let’s see what awaits us today.

In the US, The Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI), Monthly Survey to value the business conditions such as employment, new orders, supplier deliveries and inventories, reduce of 0.2 points is due now down to 55.0 points.

Later in the US, Investor’s Business Daily (IBD) / TechnoMetrica Institute of Policy and Politics (TIPP) Economic Optimism, reduce of 1 point is due now down to 46.3 points.

In Europe, Retail Sales, value the value change of the total sales at the retail level, rise up to 0.3% is likely from -0.8% on February.

Later in Europe, The Economic and Financial Affairs Council (ECOFIN) Meetings, the Eurozone’s broadest financial making body for the 27 member states and their decisions affects the Eurozone’s economic health.

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

In Great Britain, Services Purchasing Managers’ Index (PMI), Survey to value the business conditions of employment, new orders, supplier deliveries and inventories, 51.5 points is due to remain from February.

Later in Great Britain, Halifax House Price Index (HPI), the price change of homes that are financed by Halifax Bank of Scotland (HBOS), 0.4% is likely from -0.2% on February.

Finally in Great Britain, BRC Retail Sales Monitor, value the sales at the retail level, 1.9% is likely now similar to the last report.

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

In Australia, Reserve Bank of Australia (RBA) Rate Statement, RBA primary tool to communicate with investors on monetary policy and discusses the economic outlook. On the Cash Rate no change is due and 3.00% is calculated now.

Later in Australia, Retail Sales, the total sales at the retail level, rise up to 0.4% is due from -0.2% on February.

Finally in Australia, Current Account, quarterly indicator to value the difference in between imported and exported goods, services and so on, -15.2B is likely now from -14.9B on the past month.

For more on the Aussie, read the AUD/USD forecast.

In Japan, Average Cash Earnings show the employment income that is collected by workers, -0.3%is likely now from -1.7% on the last time.

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

Trade well


About

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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