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Forex Daily Outlook July 18 2012

Building Permits in the US and MPC) Meeting Minutes 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 Testifies in Washington DC.

In theUS, Building Permits, the new residential building permits that were issued on the last month, is due to reduce by 0.2M down to 0.76M now. While on the Housing Starts rise of 0.3 is expected up to 0.74M this month.

Later in the US, Crude Oil Inventories, weekly indicator to measure the number of commercial crude oil barrels that are held in inventory, -4.7M is likely similar to the previous month.

Finally in the US, Beige Book, scheduled 8 times per year, and analysis is used by the FOMC to help make their next interest rates decisions.

In Canada, Bank of Canada (BOC) Monetary Policy Report, provides valuable insight on the bank’s view regarding monetary conditions and inflation.

Later in Canada, Bank of Canada (BOC) Press Conference, primary method that the BOC uses to communicate with investors regarding monetary policy.

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

In Great Britain, Claimant Count Change, unemployment benefits that were claiming over the last month, due to reduce from 8.1K on June down to 7.4K.

Later in Great Britain, Monetary Policy Committee (MPC) Meeting Minutes, Bank of England (BOE) MPC; most recent meeting to show the economic conditions that influenced on where to set interest rates, now change is due from the last time.

More in Great Britain, Unemployment Rate, value by percentage all the unemployed that and actively looking for jobs on the last 3 months, 8.2% is expected with no change from the last report.

Finally in Great Britain, Average Earnings Index is due to remain 1.4% similar to the last month report.

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

In Switzerland, Zentrum fur Europaische Wirtschaftsforschung (ZEW) Economic Expectations, Survey to value the 6-month economic outlook for Switzerland, -43.4 is forecasted similar to the last month.

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

In Australia, MI Leading Index, composite index that is based on 9 financial indicators, is due to remain 0.5% similar to Jun’s report.

For more on the Aussie, read the  AUD/USD 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