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Forex Daily Outlook March 21 2012

In the US Fed Chairman Bernanke Testifies and Annual Budget Release in the UK are the main events today.   Here is an outlook on the market-movers awaiting us

In the US, Ben Bernanke, Federal Reserve Chairman is about to Testify in Washington DC.

More in the US, Existing Home Sales, monthly report to value the buildings that were sold on the past month (not including new construction), due to rise up from 4.57M on February up to 4.61M this time.

Later in the US, Crude Oil Inventories, weekly report to measure the number of commercial firm’s crude oil barrels in inventory, no change is expected this time and 1.8M is likely to remain.

Finally in the US, Daniel Tarullo, Federal Reserve Governor is about to lecture in Washington DC.

In Canada, Wholesale Sales, consumer spending top indicator to rate value of sales at the wholesale level over the passing month, decline is predicted from 1.0% on February down to 0.4% now.

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

In Great Britain, MPC Meeting Minutes, Bank of England (BOE) Monetary Policy Committee (MPC) latest meeting, that provides with insights regarding the monetary conditions interest rates decisions.

More in Great Britain, Annual Budget Release, value the economy impact from Local government spending and borrowing levels, can affects the work for contractors and creates jobs, and also impact the nations credit rating.

Finally in Great Britain, Public Sector Net Borrowing, value the difference between spending and income for public corporations, central and local government on the previous month, growth is predicted from -10.7B on February up to 5.2B now.

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

In Australia, Guy Debelle, Reserve Bank of Australia (RBA) Assistant Governor (Financial Markets) is about to speak in Sydney.

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

In New Zealand, Gross Domestic Product (GDP), the largest measure of financial activity and the economy’s health primary gauge to value all goods and services economy production over the last quarter, reduce of 0.2% is predicted down to 0.6% this time.

More in New Zealand, Credit Card Spending is due to remain 3.1% similar to February report.

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

In Japan, Trade Balance, value the difference between imported and exported goods, about to growth from -0.61T on the last month up to -0.34T now.

More in Japan, All Industries Activity is due to drop down from 1.3% on the last month to -0.5% on the coming report.

Read more about the yen in the USD/JPY 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