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Forex Daily Outlook – January 13 2011

Very busy day, In the US Chairman Bernanke Speaks in Arlington, MPC Rate Statement in the US and much more exciting news ahead us. .Let’s see what awaits us today.

In the US, Federal Reserve Chairman Ben Bernanke, Due to deliver a speech titled “Overcoming Obstacles to Small Business Lending” at the Federal Deposit Insurance Corporation Forum, in Arlington. Audience questions expected. Can often subtle clues regarding future monetary policy.

Later in the US, Trade Balance, imported and exported goods and services during the reported month is about to rise by 2.1 B. Export demand and currency demand are directly linked.

Later on in the US, Unemployment Claims, individuals who filed for unemployment insurance for the first time during the past week; is about to reduce by 4 K. important signal of overall economic health because consumer spending is highly correlated with labor-market conditions

More in the US, Producer Price Index (PPI), price of finished goods and services sold by producers, excluding food and energy; is about to remain 0.8% similar to the previous month, while the Core PPI (excluding food and energy;) is about to reduce by 0.1|%.  leading indicator of consumer inflation.

Finally in the US, Treasury Currency Report, It provides a detailed review of global exchange rate policies, economic conditions, and central bank and government actions around the world. Most importantly, the report outlines counties that the Treasury deems currency manipulators.

In Canada, Trade Balance, value between imported and exported goods during the reported month is about to reduce by 0.3 B.

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

In Europe, Minimum Bid Rate, Interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system is about to remain 1% like the previous time.

Also in  Europe, European Central Bank (ECB) Press Conference, It’s the primary method the ECB uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy;

For more on the Euro, read the  EUR/USD forecast.

In Great Britain, Manufacturing Production, total inflation-adjusted value of output produced by manufacturers is about to reduce by 1%.

More in Great Britain, Asset Purchase Facility, Total value of money the BOE will create and use to purchase assets in the open market is to remain 200 B.

Finally in Britain, Official Bank Rate, Interest rate at which banks lend balances held at the BOE to other banks is to remain 0.50%.

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

In Switzerland, Producer Price Index (PPI, price of goods and raw materials purchased by manufacturers; leading indicator of consumer inflation is about to by 0.6%.

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

In New Zealand, ANZ Commodity Prices, global price of exported commodities is due to remain 4.5% similar to the previous month.

In Japan, Core Machinery Orders, total value of new private-sector purchase orders placed with manufacturers for machines, excluding ships and utilities; is about to rise by 3.5%.

That’s it for today. Happy forex trading!

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