Forex Daily Outlook – August 16 2010

We start the week with interesting development in US Treasury International Capital (TIC) Long-Term Purchases, Rightmove HPI in Great Britain, some interesting development regarding the Prelim GDP in Japan and more updates; let’s see what awaits us today.

In the US, Treasury International Capital (TIC) Long-Term Purchases is about to rise by 0.9B. This data represents the balance of domestic and foreign investment and measures the value between foreign long-term securities purchased by US citizens and US long-term securities purchased by foreigners during the reported period;

Later in the US, Empire State Manufacturing Index, Survey of about 200 manufacturers in New York state which asks respondents to rate the relative level of general business conditions, is about to rise by 3.1 points, It’s a leading indicator of economic health that measures the diffusion index based on surveyed manufacturers in New York state.

More in the US, Mortgage Delinquencies, Percentage of Mortgage Bankers Association (MBA) represented mortgages which were at least one payment late during the previous quarter, stabilizes on 10.06%, it’s generally viewed as a lagging indicator, the number of delinquencies can be an important signal of the housing market’s health because it’s correlated with home inventories.

Finally in the US, National Association of Home Builders (NAHB) Housing Market Index, Survey of about 900 home builders which asks respondents to rate the relative level of current and future single-family home sales will rise by 1 points but still indicates a negative outlook on home sales.

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

In Europe, Consumer Price Index (CPI) stabilized on 1.7%, It’s the Eurozone’s most important inflation data because it’s used as the central bank’s inflation target. Consumer prices account for a majority of overall inflation.

More in Europe, Core CPI The Core data has a mild impact relative to other countries because overall CPI is the central bank’s mandated inflation target and measures the price of goods and services purchased by consumers, excluding food, energy, alcohol, and tobacco; and it is about to rise by 1%.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.

In Great Britain, Rightmove House Price Index (HPI), stabilizes on 0.6^,  this is the UK’s earliest monthly report on housing inflation that measures the price of homes for sale

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

In Australia, New Motor Vehicle Sales a monthly report that indicates a sign of consumer confidence – rising demand for expensive durable goods shows that consumers are confident in their future financial position and feel comfortable spending money.

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

In Japan, Prelim Gross Domestic Product (GDP), measures the inflation-adjusted value of all goods and services produced by the economy, it decrease from 1.2% to 0.6%. There are 2 versions of GDP released about a month apart – Preliminary and Final. The Preliminary release is the earliest and thus tends to have the most impact.  And the Prelim GDP Price Index is about to decrease by 1% and It’s the broadest measure of inflation, encompassing all activities included in GDP, and is a primary instrument that the central bank uses to assess inflation.

More in Japan, Tertiary Industry Activity is about to rise up by 0.9%. It’s a leading indicator of economic health – businesses are quickly affected by market conditions, and changes in their spending can be an early signal of future economic activity such as hiring, earnings, and investment.

That’s it for today. Happy forex trading!

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