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Forex Daily Outlook – December 17 2010

Heads of State from Euro-zone countries are due to meet to discuss the Euro, and in the UK Nationwide Consumer Confidence are some of the highlights of today’s outlook. Let’s see what awaits us today.

In the US, The Conference Board (CB), level of a composite index based on 10 economic indicators is about to rise by 0.7%. Tends to have a muted impact because most of the indicators used in the calculation are released previously.

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

In  Europe, German Ifo Business Climate, Survey of about 7,000 businesses to rate the relative level of current business conditions and expectations for the next 6 months. Highly respected due to its large sample size and historic correlation with German and wider Eurozone economic conditions.

More in Europe, European Union Economic Summit (Day 2), Heads of State from Euro-zone countries are due to meet to discuss the Euro, the Euro-zone support fund, financial-market stresses and other economic issues, in Brussels.

Finally in Europe, value between imported and exported goods and services during the reported month; is about to rise by 0.5B.

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

In Great Britain, Nationwide Consumer Confidence, Survey of about 1,000 consumers which asks respondents to rate the relative level of current and future economic conditions due to be 52 points. Similar to the pervious one.

More in Great Britain, BOE Financial Stability Report, an assessment of potential risks to financial stability, and suggests ways the bank can promote and maintain a stable financial system in the future.

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

That’s it for today. Happy forex trading!

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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