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Forex Daily Outlook June 12 2013

Employment data in the UK an Australia as well as rate decision in New Zealand are the highlights today. Here is an outlook on the market-movers awaiting us.


In the US, Crude oil barrels in stock declined last week by 6.3 million following a 3 million surplus in the preceding week. Analysts expected a smaller drop of 800,000 barrels.

Later in the US 10-y Bond Auction Treasury 10-year note yields climbed to a four weeks high selling $24 billion of the securities in May. The yield  fell three basis points to 1.75%.

More in the US Federal Budget Balance describes the difference between the US Gov. income and spending reached an unexpected surplus of $ 112.9 billion in April following a106.5 billion in March. A deficit of 110.2 billion is forecasted now.

In Europe, Industrial Production edged up 1.0% in March after posting a smeller rise of 0.3% in February. The reading was well above the0.6^ gain expected by analysts. A drop of 0.2% is anticipated this time.

More in Europe German WPI. German wholesale prices declined 0.2% in April. A bot less than the 0.3% fall expected by analysts and following the same decline in March. Another 0.2% drop is expected now.

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

In Great Britain, Claimant Count Change. The number of Britons claiming unemployment benefits contracted by 7,300 in April, much better than the 3,100 reduction expected by economists. A further drop of 6,300 is anticipated.

Later in Great Britain, Unemployment Rate declined to 7.8% in March from 7.9% in February, better than the 7.9% anticipated by analysts. No change is expected this time.

More in Great Britain, Paul Fisher speaks. BOE Executive Director Paul Fisher will speak at a business conference in London. Future Monetary policy trends could be revealed.

Finally in the UK, BOE Quarterly Bulletin will be released today revealing commentary on market developments as well as economic data.

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

In Switzerland, producer Price Index  increased more than expected in April, rising 0.2% after a flat reading in March. A rise of 0.1% is projected now.

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

In New Zealand, Rate decision will be released today. Rates were maintained at 2.5% at the last RBNZ   meeting in April. Rates are expected to remain unchanged this time as well.

Later in NZ, RBNZ Monetary Policy Statement includes important economic data upon which the RBNZ made the rate decision as well as data on future inflation targets and monetary policy for the next five years.

Finally in NZ, Graeme Wheeler speaks. RBNZ Governor Graeme Wheeler will speak in Wellington. His words could cause volatility in the market.

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

In Australia, Employment Change. Australian job market gained a surprising 50,100 new jobs in April, well above market expectations, following a 31,100 job contraction in March. A further decline of 9,800 jobs is expected this time.

Later in Australia, Job gains in April pushed down unemployment rate to 5.5% following 5.6% in March. A rise to 5.6% is forecasted now.

Finally in Australia, MI Inflation Expectations. Melbourne Institute inflation projection for April increased by 0.1% to 2.3%. A similar rise is anticipated this time.

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