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Forex Daily Outlook May 2 2013

Unemployment Claims in the US and Construction PMI in the UK are the major market-movers. Let see what awaits us today.

In the US, Unemployment Claims, weekly indicator to value the individuals who filed for unemployment insurance for the first time, 346K is due now from 339K on the last time.

Later in the US, Trade Balance, value the difference between imported and exported goods and services, -42.1B is predicted now from -43.0B on the reported month.

More in the US,   Prelim Nonfarm Productivity, shows the change in labor efficiency when producing goods and services (not including farming industry), rise up to 1.8% is likely this month from -1.9% on April.

Finally in the US, Prelim Unit Labor Costs calculate the price change of businesses payment for labor (without the farming industry), 0.8% is due now from 4.6% on the last month.

In Canada, measures the difference value between imported and exported goods, -0.7B is estimated now from -1.0B on the previous report.

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

In Europe, ECB Press Conference, primary method that the European Central Bank (ECB) uses to communicate with investors on monetary policy and provides clues for future monetary policy. meanwhile the Minimum Bid Rate is likely to drop down to 0.50% from 0.75% on the previous time.

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

In Great Britain, Construction PMI Purchasing Managers’ Index (PMI); Survey to rate the business conditions like employment, new orders, supplier deliveries and inventories, rise up to 48.1 points is due from  47.2 points on the last time.

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

In Switzerland, Schweizerischer Verband fur Materialwirtschaft und Einkauf (SVME) Purchasing Managers’ Index (PMI), Survey to value the business conditions such as employment, new orders and inventories, 49.1 points are likely from 48.3 points on April.

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

In Australia, Building Approvals, shows the new building approvals issued, drop down to 1.2% from 3.1% on the last month is likely now.

Later in Australia, Import Prices, the price change of goods purchased by importers, -0.5% is forecasted this quarter  from 0.3% on the last report.

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

In Japan, Monetary Policy Meeting Minutes, the Bank of Japan (BOJ) detailed record of the Policy Board’s meeting that provides insights on the economic conditions and interest rates decision.

Later in Japan, Monetary Base value the total quantity of domestic currency that is circulated and deposited at the Bank of Japan (BOJ), 19.8% is likely from April.

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