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Forex Daily Outlook September 11 2013

UK and Australian employment data as well as New Zealand’s rate decision are the main event this day. Here is an outlook on the Forex events ahead.

In the US, Crude Oil inventories dropped by 1.8 million barrels to 360.2 million barrels last week. Economists expected a bigger decline of 1.9 million. Analysts expect another fall of 2.2 million barrels this time.

More in the US, 10-y Bond Auction. The US Treasury sold $24 million in 10 year notes in August in line with market rates amid tapering expectations. The high yield reached 2.62%, but the bid-to-cover ratio fell to 2.54.

In Great Britain, Claimant Count Change The number of Britons claiming unemployment benefits continued to fall in August, down by 29,200, far better than the 14,300 drop projected by analysts. This time, another decline of 21,200 is expected.

More in Great Britain, Average Earnings Index

Also in the UK, Unemployment Rate remained 7.8% in August, in line with market predictions. The rate is expected to remain unchanged.

Finally in the UK, MPC Member Miles Speaks. External BOE MPC Member David Miles is scheduled to speak in London. His words may influence the market.

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

In New Zealand, Official Cash Rate. The RBNZ kept their official cash rate at 2.50%, in line with market consensus. No change is expected now.

Finally in   New Zealand, RBNZ Gov Wheeler Speaks. RBNZ Governor Graeme Wheeler will speak in Wellington. His words may affect the market.

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

In Australia, MI Inflation Expectations measuring customer’s inflationary expectations decreased to 2.3% in August from 2.6% in July,  within RBA’s target.

More in Australia, Employment Change.   The Australian labor market unexpectedly shed 10,200 jobs in July, missing predictions of a 6.200 job addition.  This time a rise of 10,200 positions is expected.

Later in Australia, Unemployment Rate remained at 5.7% despite predictions for a 0.1% rise to 5.8%. Nevertheless,  Analysts expect unemployment rate to climb to 5.8% this time.

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

In Japan, Core Machinery Orders. private-sector purchase orders for machinery, excluding ships and utilities declined less than expected in June, down by 2.7%, following a 10.5 boost in the previous month. A rise of 2.5% is forecasted now.

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