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Forex Daily Outlook July 2 2012

We began the week with Manufacturing PMI both in the US and the UK as the main highlights on today’s outlook. Let’s see what awaits us today.

In the US, The Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI); monthly survey to rate the Business conditions including such as production, prices and inventories, is likely to rise up from 52.1 points on June to 53.5 points this time. while on the ISM Manufacturing Prices reduce is predicted from 47.5 points   on June down to 45.8 points   now and on the Final Manufacturing PMI rise from 52.9 points on June up to 53 points is estimated.

Later in the US, John Williams, Federal Reserve Bank of San Francisco President, is due to speak in San Francisco.

Finally in the US, Construction Spending, measures the total amount that constructors spent on building projects over the last month, 0.3% is forecasted like on the June.

In Europe, Unemployment Rate, value by percentage the unemployed that are looking form employment on the last month, rise of 0.1% is predicted from June up to 11.1% now.

Later in Europe, Final Manufacturing Purchasing Managers’ Index (PMI), now change is due from June and 44.8 points are likely to remain.

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

In Great Britain, Manufacturing Purchasing Managers’ Index (PMI), Monthly Survey to value the level of business conditions like employment, new orders and supplier deliveries, rise is predicted from 45.9 points on June to 46.7 points this month.

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

In Switzerland, Retail Sales, consumer spending important indicator to value the sales at the retail level (not including autos and gas stations), rise from 0.1% on June up to 0.9% is calculated.

Later in Switzerland,   Schweizerischer Verband fur Materialwirtschaft und Einkauf (SVME) Purchasing Managers’ Index (PMI); Survey to value the   business conditions like   production, new orders, and inventories, is about to reduce from 45.4 points on June down to 44.6 points now.

Read more about the Swiss franc in the USD/CHF forecast.

In Australia, Australian Industry Group (AIG) Manufacturing Index is due to indicates contraction 42.4 points similar to the last Monthly Survey.

Later in Australia, Melbourne Institute (MI) Inflation Gauge, the consumer’s price change for goods and services, no change is likely from the Jun’s report.

Finally in Australia, Commodity Prices, nation’s trade balance indicator that is due to remain -9.9% like on June.

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

In Japan, Tankan Manufacturing Index, Manufacturer’s Quarter Survey to rate the general business conditions, -4 points are expected like on the last survey, while on the Tankan Non-Manufacturing Index rise of 1 point is forecasted up to 6 points.

Later in Japan, Monetary Base, correlated with interest rates and due to rise up from 2.4% on June up to 3.6% now.

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