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Forex Daily Outlook – March 30 2011

ADP Non-Farm Employment Change in the US and much more exciting events. Let’s see what awaits us today.

 In the US, ADP Non-Farm Employment Change, number of employed people during the previous month, excluding the farming industry and government is about to reduce by 11K, and accounts for a majority of overall economic activity.

Later in the US, Crude Oil Inventories, held in inventory by commercial firms during the past week is due to be 2.1M. It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods.

In Canada, Raw Materials Price Index (RMPI); price of raw materials purchased by manufacturers is about to reduce by 0.7%.

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

In Great Britain, Bank of England (BOE) Executive Director Paul Fisher, due to speak at the Manchester Economics Seminar, in London.

More in Great Britain, Confederation of British Industry (CBI) Realized Sales, Survey of about 160 retail and wholesale companies which asks respondents to rate the relative level of current sales volume, indicates lower sales volume with -1 points.

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

In Switzerland, KOF Economic Barometer, Combined reading of 12 economic indicators related to banking confidence, production, new orders, consumer confidence and housing; is due to be 2.16 points.

In Australia, Building Approvals, new building approvals issued, is about to rise by 20.2%. Obtaining government approval is among the first steps in constructing a new building. Construction is important because it produces a wide-reaching ripple effect.

More in Australia, Retail Sales is due to remain 0.4%. The primary gauge of consumer spending, which accounts for the majority of overall economic activity.

Finally in Australia, Private Sector Credit, new credit issued to consumers and businesses; is due to remain 0.3%.

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

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