Home Forex Daily Outlook – July 20 2011
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Forex Daily Outlook – July 20 2011

Existing Home Sales in the US and MPC Meeting Minutes in the UK are the main events today.   Here is an outlook on the market-movers awaiting us

In the US, Existing Home Sales, very important indicator to value the number of new sold buildings on the passing month, is about to rise to 4.93M this time from   4.81M on June.

Later in the US, Crude Oil Inventories, weekly measurement to value crude oil barrels for commercial businesses, is about to remain 3.1M similar to the previous month.

In Canada, Bank of Canada (BOC) Monetary Policy Report, Quarterly report to show financial conditions and inflation and effect on the future of monetary. It’s followed by BOC Press Conference.

More in Canada, Wholesale Sales, important indicator to value consumer spending, a rise to 0.2% is expected to -1% on June.

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

In Europe, German Producer Price Index (PPI), monthly measurement to value the price of goods sold by builders, a rise to 0.1% is expected.

More in Europe, Consumer Confidence is expected to remain -10 points that is similar to the previous month.

For more on the Euro, read the  Euro to dollar forecast.

In Great Britain, Monetary Policy Committee (MPC) Meeting Minutes releases the minutes from the last Monetary Policy Committee meeting where interest rate is set. The minutes provide the reasons leading to this decision. In the Previous minutes 2 voted to raise rates against 0 voting to reduce it and 7 to hold the rates, this month the expected score is 2-0-7.

More in Great Britain, Nationwide Consumer Confidence, Monthly Survey of about 1,000 customers to value the existing and upcoming financial conditions, about to reduce to 51 points from 55 points on the last month.

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

In Australia, MI Leading Index, a compilation of 9 economic indicators intended to forecast, 0.2% is expected that is similar to the previous month.

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

In New Zealand, Visitor Arrivals is expected to remain -0.3%.

For more about the kiwi, see the NZD/USD forecast.

In Japan, Trade Balance, monthly report to measure the chance from exported and imported goods, -0.25T is expected this time in compeer to -0.47T on June,

Read more about the yen in the USD/JPY forecast.

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