Forex Daily Outlook March 6 2012

Halifax HPI in the UK and Ivey PMI in Canada are the main events lined up.  Let’s see what awaits us today.

In Canada, Ivey Purchasing Managers’ Index (PMI); Monthly Survey to rate the business conditions such as employment, new orders, supplier deliveries and so on, industry growth is expected with 62.2 points, 1.9 points less than on the last month.

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

In Europe, Revised Gross Domestic Product (GDP), no change is predicted from the last quarter and -0.3% is due to remain.

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

In Great Britain, Halifax House Price Index (HPI), housing industry’s top indicator to value the price change of homes financed by Halifax Bank of Scotland (HBOS); reduce from 0.6% on February down to 0.3% is predicted.

More in Great Britain, British Retail Consortium (BRC) Retail Sales Monitor, value the Change in the sales at the retail level of the same-store, due to remain -0.3% similar to February report.

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

In Australia, Reserve Bank of Australia (RBA) Rate Statement, value the monthly overnight deposit’s Interest rate. While on the Cash Rate no change is predicted and 4.25% is due to remain.

More in Australia, Philip Lowe, Reserve Bank of Australia (RBA) Deputy Governor is about to speak in Sydney.

Moreover in Australia, Current Account, measures the difference between imported and exported goods, income, and so on over the last quarter, due to further reduce from -5.6B down to -7.9B.

Finally in Australia, Australian Industry Group (AIG) Construction Index due to indicates industry contraction with 39.8 points similar to the last month report.

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

In Japan, Average Cash Earnings, monthly indicator to value the employment income that is collected by workers, reduce is predicted from 0.1% down to -0.3% this month.

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

That’s it for today.

For more events later in the week, check out the Live Forex Calendar


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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