Forex Daily Outlook – August 20 2010

We finish the week with some interesting news in Canada CPI, Ric Battellino speech in Redcliffe and more. Let’s see what awaits us today.

In Canada, Core Consumer Price Index (CPI); the price of goods and services purchased by consumers, excluding the 8 most volatile items has decreased by 2% and Consumer prices account for a majority of overall inflation. Important to currency valuation since rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.

More in Canada, Consumer Price Index (CPI), the price of goods and services purchased by consumers decreased by 1%. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.

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

In Australia, Reserve Bank of Australia (RBA) Deputy Governor Ric Battellino speaks at the Moreton Bay Better Business Luncheon, in Redcliffe and his public engagements are often used to drop subtle clues regarding future monetary policy.

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

In New Zealand, Credit Card Spending, the total spending facilitated with a credit card has stabilized on 4.5% and it’s correlated with consumer spending and confidence – rising debt levels are a sign that lenders feel comfortable issuing loans, and that consumers are confident in their financial position and eager to spend money.

That’s it for today. Happy forex trading!

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