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Forex Daily Outlook – August 10 2011

BOE Inflation Report in the UK and Crude Oil Inventories in the US are the main events today.   Here is an outlook on the market-movers awaiting us

In the US, Federal Budget Balance, monthly measurement to value the federal government’s salary and expenses, further reduce from -43.1B on July month to -140.3B this month.

More in the US, Crude Oil Inventories is measuring the weekly inventory of crude oil barrels, about to rise from 1M to 1.7M.

Finally in the US, Wholesale Inventories is about to reduce to 0.9%

In Europe, French Industrial Production, leading monthly indicator to value the manufacturers output production, is due to reduce to -0.1%.

More in Europe, German Final Consumer Price Index (CPI) is about to remain 0.4% with no change from the last time.

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

In Great Britain, Mervyn King Bank of England (BOE) Governor is about to speak in press conference in London.

Later in Great Britain, BOE Inflation Report that provides valuable insight of the bank’s view regarding economic conditions and inflation.

Finally in Great Britain, Nationwide Consumer Confidence, Survey of approximately 1,000 consumers to value the present and upcoming financial conditions, 51 points are forecasted.

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

In Australia, Westpac Consumer Sentiment, Survey of around 1,200 consumers that is released monthly a value the historical and forthcoming financial conditions, -8.3% is expected this time.

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

In New Zealand, Real Estate Institute of New Zealand (REINZ) House Price Index (HPI) value the selling price of all households is about to remain 1.3% like on the former month.

More in New Zealand, Business NZ Manufacturing Index is due to remain 54.3 points.

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

In Japan, Core Machinery Orders, monthly report to value the manufacturers’ orders for machine, is about to reduce from 3% on July to 1.9% this time.

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