Forex Daily Outlook – September 27 2011
US CB Consumer Confidence is the major event lined up. Let’s see what awaits us today.
In the US, The Conference Board (CB) Consumer Confidence, monthly survey to rate the level of present and forthcoming monetary conditions, small rise from 44.5 points on August to 46.4 points is expected.
Later in the US, Standard & Poor’s (S&P) / Case-Shiller (CS) Composite-20 House Price Index (HPI); measures the change in households selling price on 20 urban areas, rise from -4.5% up to -4.4% is forecasted this month.
Finally in the US, Richmond Manufacturing Index, monthly survey to rate the business conditions, a rise from -10 points on August to -8 points is forecasted.
In Canada, Tiff Macklem, Bank of Canada (BOC) Senior Deputy Governor is about to speak inVancouver.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, M3 Money Supply measuring total domestic currency in circulation increased in 2.0% in July, below the2.2% gain predicted and following an increase of 1.95 in the previous month. Another 2.0% rise is expected now.
More in Europe, GfK German Consumer Climate measuring consumer sentiment decreased to 5.2 in August after 5.3 in July, in line with expectations. Another drop to 5.1 is predicted now.
Also in Europe, Private Loans gained 2.4% I n July, less than the 2.65 increase predicted and following 2.5% increase in the previous month. A rise to 2.5% is expected now.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain, Nationwide HPI measuring the purchase price of houses with mortgages, decreased by 0.6% in August, contrary to the 0.1% gain anticipated by analysts and following 0.3% increase in the previous month. A gain of 0.2% is predicted now.
More in Great Britain, CBI Realized Sales measuring industrial vending plunged to -14 in August following -5 in the previous month. This reading was worse than the -10 predicted by analysts.
Finally in Britain, MPC Member Adam Posen is scheduled to speak inBerlin.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, UBS Consumption Indicator are consumer related indicators reflecting economic conditions dropped to 1.29 in July from 1.52 in June.
Read more about the Swiss franc in the USD/CHF forecast.
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