Forex Daily Outlook May 7 2012



We start this week with Presidential Election in Europe and RICS House Price Balance in the UK as the main highlights on today’s outlook. Let’s see what awaits us today.

In Canada, Building Permits, future construction activity brilliant gauge to value the all new building permits that were issued over the last month, is about to drop down from 7.5% on April to  2.3% now.

Later in Canada, John Murrayin, Bank of Canada (BOC), Deputy Governor, is about to speak in Vancouver.

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

In Europe, Elections for the 24th President of France, that is held every 5 years.

More in Europe, Greek Parliamentary Election, Hellenic Parliament elections, 300 members will be elected to form the government, it is held every 4 years.

Later on in Europe, German Factory Orders, value the entire new manufacturer’s purchase orders over the last month, rise is expected up to 0.5% now from 0.3% on April.

Finally in Europe, Sentix Investor Confidence, Monthly Survey to rate the 6-month Eurozone financial outlook, due to further drop down to -15 points from -14.7 points on April.

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

In Great Britain, Royal Institution of Chartered Surveyors (RICS) House Price Balance, housing inflation indicator that is because surveyors and have access to the latest price data, -10% is predicted with no change from the past month.

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

In Switzerland, Consumer Price Index (CPI), the consumer’s price change of goods and services, is about to reduce from 0.6% on April down to 0.2% this time.

Later in Switzerland, Foreign Currency Reserves, value all the foreign currency reserves that is held by the Swiss National Bank (SNB), 237.5B is forecasted, similar to the previous month.

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

In Australia, Building Approvals, future construction activity gauge, to value the number of new building approvals that were issued, rise from -7.8% on April up to 3.2% now is estimated.

Later in Australia, Retail Sales is likely to rise up by 0.1% to 0.3% this time.

Also in Australia, Australia and New Zealand Banking Group (ANZ) Job Advertisements, measures the jobs advertised in the major daily newspapers and websites in the capital cities, 1% is forecasted similar to the previous report.

Finally in Australia, National Australia Bank (NAB) Business Confidence, Monthly survey to rate the current business conditions, 3 points are likely to remain similar to April.

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

In Japan, Monetary Policy Meeting Minutes, Bank of Japan (BOJ) record of the Policy Board’s meeting regarding the economic conditions and interest rates decision.

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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