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Forex Daily Outlook October 23 2012

In the UK BOE Gov King Speaks and Retail Sales in Canada are the main events lined up. Let’s see what awaits us today.

In the US, Richmond Manufacturing Index, Monthly Manufacturers’ Survey in Richmond area to rate the business conditions such as shipments, new orders and employment, 3 points are expected from 4 points on the last report.

In Canada, Retail Sales, value all the sales at the retail level, 0.4% is predicted from 0.7%, and similar reduce is likely on the Core Retail Sales (not including cars) with 0.2% now from0.4% on September.

Finally in Canada, Bank of Canada (BOC) Rate Statement, it is scheduled 8 times a year and used as the primary BOC tool to communicate with investors regarding monetary policy and discusses the financial outlook. Meanwhile no change is calculated on the Overnight Rate 1.00% is estimated now.

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

In Europe, Belgium National Bank of Belgium (NBB) Business Climate, Monthly Survey to value the current business conditions and expectations for the next 6 months, -10.8 is due now from -11.6 on September.

Later in Europe, Consumer Confidence is likely to remain -26 similar to the last month index.

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

In Great Britain, Mervyn King, Bank of England (BOE) Governor, is due to speak in Cardiff.

Later in Great Britain, British Bankers’ Association (BBA) Mortgage Approvals, measures the new mortgages for home purchase that has been approved by BBA-represented banks on the last month, 30.9K is forecasted now from 30.5K on September.

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

For more events later in the week, check out the Live Forex Calendar


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