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Forex Daily Outlook – August 2 2011

Personal Spending in the US and Halifax HPI in the UK are the main events lined up.  Let’s see what awaits us today.

In the US, Personal Spending, monthly measurement for the total Spending value, is about to rise to 0.2%. Meanwhile on the Personal Income no change from 0.3% is forecasted.

Later in the US, Core Personal Consumption Expenditures (PCE) Price Index, month report to value what consumers  spent on services and goods (excluding food and energy), small reduce is expected from 0.3% last month to 0.2%.

Finally in the US, Total Vehicle Sales shows consumer confidence with 11.9M.

In Europe, Producer Price Index (PPI), monthly indicator that about to rise to 0.1%.

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

In Great Britain, Halifax House Price Index (HPI), important indicator to value the price of households, 0.1% is expected now, reduce from 1.2% on the previous index.

More in Great Britain, Construction Purchasing Managers’ Index (PMI); Survey of around 170 managers to value the business conditions on the last month, about to slightly reduce from 53.6 points on the previous month to 53.3 points this time.

Later in Great Britain, British Retail Consortium (BRC) Shop Price Index is about to remain 2.9% similar to the previous month.

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

In Australia, Building Approvals the main measurement of construction activity, a significant rise is expected from -7.9% on the last month to 3.2% this time.

More in Australia, Reserve Bank of Australia (RBA) Rate Statement, one of the main tools that the RBA Reserve Bank Board uses to communicate with investors regarding monetary policy.

Later in Australia, Cash Rate, indicator of Interest rate for instant money market credits, 4.75% is expected with no change from the previous months.

Also in Australia, House Price Index (HPI), due to slightly rise from -1.7% on the last month to -0.9% this time.

Further mote in Australia, Commodity Prices, measures the exported supplies price on the last month, 28.2% is expected similar to the previous month.

Finally in Australia, AIG Services Index, measures the business conditions over the past month, 48.5 points are forecasted this time.

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

In Japan, Average Cash Earnings, monthly measurement for the total value of employment salary collected by workers; about to reduce from 1% to 0.4%.

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

Trade well

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