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Forex Daily Outlook August 8 2012

In the UK BOE Inflation Report and Employment Change in New Zealand are the main events today.   Here is an outlook on the market-movers awaiting us

In the US, Prelim Nonfarm Productivity, the annualized labor efficiency for goods and services (without the farming industry), rise is forecasted from -0.9% on the last quarter up to 1.5% this time.

Later in the US, Prelim Unit Labor Costs, value the annualized price change for labor by businesses (not including the farming industry, reduce is predicted from 1.3% on the last quarter down to 0.4% now.

Also in the US, Crude Oil Inventories, weekly measurement to value the commercial crude oil barrels that are held in inventory by firms,   -6.5M is due similar to the last time.

Finally in the US, 10-y Bond Auction shows the 10 year bonds that the government sold at auction, and the bid-to-cover ratio of the auction.

In Europe, German Industrial Production, value the manufacturers, mines, and utilities output production over the last month, is about to drop down from 1.6% on July to -0.7%.

Also in Europe, German 10-y Bond Auction, values the bonds the government sold at auction on the last 10 year, and the bid-to-cover ratio of the auction.

Finally in Europe, Trade Balance, value the difference in between imported and exported goods, in Germany decrease is due from 15.0B on July down to 14.9B. And in France rise of 0.1B is expected to -5.1B,

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

In Great Britain, Bank of England (BOE) Inflation Report that provides the quarterly insight of the bank’s view of economic conditions and inflation with their interest rate decisions.

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

In Switzerland, State Secretariat for Economic Affairs (SECO Consumer Climate, monthly survey to rate the level of previous and forthcoming financial conditions, rise of 4 points are anticipated to -8 points this time.

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

In Australia, Home Loans, new loans that were granted for owner occupied homes over the last month, rise is forecasted from -1.2% on July up to 2.1% now.

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

In New Zealand, Employment Change, measures the number of employed people on the last quarter, 0.4% is due to remain similar to the previous report.

Later in New Zealand, Unemployment Rate, value by percentage the unemployed that are seeking employment, reduce of 0.2% is likely from the last quarter.

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

In Japan, Core Machinery Orders, value of new manufacturer’s private-sector purchase orders, rise from -14.8% on July up to 11.3% is predicted this time.

More in Japan, Economy Watchers Sentiment, is about to rise up by 0.7 points to 44.5 this month.

Finally in Japan, M2 Money Stock is Likely to rise up by 0.1% from July to 2.3%

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