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Forex Daily Outlook – September 21 2011

US Existing Home Sales and FOMC Statement are the major market-movers. Here is an outlook on the important events lined up for us todat.

In the US, Federal Open Market Committee (FOMC) Statement, key tool used by the FOMC that affects the investors regarding the monetary policy & the financial outlook. And the Federal Funds Rate remains with no change from the previous months 2.5%.

Later in the US, Existing Home Sales, important monthly indicator to value the number buildings that were sold, a rise from 4.67M on August to 4.76M this time is predicted.

Finally in the US, Crude Oil Inventories, expected to remain -6.7M like on the last week.

In Canada, Consumer Price Index (CPI), measures the consumers price difference regarding goods and services, is about to droop down to 0.1% from 0.2% on August. Meanwhile the Core CPI (excluding 8 volatile items) is about to remain 0.2% like on the previous month.

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

In Great Britain, Monetary Policy Committee (MPC) Meeting Minutes, the latest Bank of England (BOE) MPC’s meeting record that provides the financial conditions and insights into the outcome of future votes.

More in Great Britain, Public Sector Net Borrowing, the Difference between spending and income, is about to rise from -2B to 11.3B.

Finally in Britain, Spencer Dale, Bank of England (BOE) Chief Economist is about to deliver a speech inSouth Shields.

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

In Australia, MI Leading Index a combination of 9 leasing indicators aimed to provide future insight to the economy, increased by 0.1% in June following a drop of 0.1% in the previous month. The same rise is expected now.

More in Australia, Ric Battellino speaks: RBA Deputy Governor Ric Battellino is scheduled to speak inNew York.

Later in Australia, Philip Lowe speaks; RBA Assistant Governor Philip Lowe is scheduled to speak inSydney.

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

In New Zealand, Credit Card Spending surged 7.3% in July following another increase of 4.6% in the previous month. A smaller increase is expected.

More in New Zealand, GDP, the Gross domestic product increased by 0.8% in the first quarter following 0.5% increase in the   last quarter of 2010. Another increase of 0.5% is predicted now.

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

In Japan, All Industries Activity. The commercial value of goods and services increased by 2.3% in June compared to 1.8% increase in the previous month in line with predictions. A smaller increase of 0.9% is expected.

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