Forex Daily Outlook – June 14 2010
We start the week with a speech by James Bullard, New Motor Vehicle Sales, Retail Sales in New Zealand and more; let’s see what awaits us this today..
In the US, Federal Reserve Bank of St Louis President James Bullard, delivers a speech titled “The Global Recovery and Monetary Policy” at the Institute of Regulation and Risk, in Tokyo. And drops subtle clues regarding future monetary policy;
In Canada, New Motor Vehicle Sales, data that is released monthly and measuring the change in number of new cars and trucks sold domestically, is about to rise by 0.5% and It’s a sign of consumer confidence.
For more on USD/CAD, read the Canadian dollar forecast.
Moving to Europe, Industrial Production, data that is released monthly and measuring the change in the total inflation-adjusted value of output produced, is about to rise by 0.4%. It’s a leading indicator of economic health and tends to have a relatively mild impact because Germany and France that account for about half of the Eurozone’s economy.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, External Bank of England (BOE), Monetary Policy Committee (MPC); Member Adam Posen participates in a panel discussion at the Barclays Capital Annual Global Inflation-Linked Conference 2010, in New York. And impact on the future monetary policy.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, the Producer Price Index (PPI) is about to rise in 0.6%, data that is released monthly and measuring the change in the price of goods and raw materials purchased by manufacturers.
In New Zealand, Retail Sales, the earliest and broadest look at vital consumer spending released monthly data that measures the change in the total value of sales at the retail level, is about to droop down by 0.7% and accounts for the majority of overall economic activity.
More in New Zealand, Retail Sales Ex Autos is about to droop down from 1.1% to -0.4%, data that is released monthly and measures the change in the total value of sales at the retail level, excluding automobiles. Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend.
In Japan, Business Survey Index (BSI) manufacturing index shows and optimistic result of 7.8. This survey is used to predict the Bank of Japan (BOJ) Tankan Survey.
Later in Japan, Revised Industrial Production, released monthly data that measures the change in the total inflation-adjusted value of output produced by manufacturers. is about to rise by 1% and production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings.
That’s it for today. Happy forex trading!
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