Home Forex Daily Outlook – May 11 2010
Daily Look

Forex Daily Outlook – May 11 2010

U.S. IBD/TIPP Economic Optimism is expected to rise and the Wholesale Inventories indicate a rising demand in the market while Britain’s Manufacturing Production  and Industrial Production predicted to drop reflecting market deceleration. Here is today’s review.  

In the US, IBD/TIPP Economic Optimism is expected to rise in 0.5 points bringing more optimism to the market after Non -Farm Employment Change showed a rise of 35000 in the number of employed people in the market.

Later in the US, Wholesale Inventories released monthly is foreseen a drop of 0.1%    from 0.6% in the previous month which is another good sign for the market’s activity since a decline in Wholesale Inventories indicates that retailers are buying more goods to meet strong or rising demand.

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

In Europe German Final CPI released monthly, measuring the average price of a fixed market basket of goods and services purchased by consumers, and therefore give an overall read of Inflationary pressures is expected to remain of  -0.1%  indicating deflation and the German Wholesale Price Index  is also heading for a drop from 1.3% to 0.3% following the same tendency.

More in Europe, Switzerland’s SECO Consumer Climate is expected to edge up by 9 points from -7 in the previous month indicating a good business climate and a favorable insight on future consumer spending.

Finally in Europe, Deutsche Bundesbank President Axel Weber, delivers a speech about exit strategies in financial politics at the CER-ETH/KOF lecture, in Zurich. And will have impact on Eurozone’s key interest rates and future monetary policy;

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

In Great Britain, Manufacturing Production  is predicted to drop by 1% from the rise experienced in the previous month, indicating poor industrial production.  

More in Great Britain, Industrial Production  is also expected to fall to 0.3% from 1.0% in the previous month indicating market deceleration.

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

That’s it for today. Happy forex trading!

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.

Anat Dror

Anat Dror

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