Forex Daily Outlook – August 18 2010

Some existing News in New Zealand regarding the PPI Input, in the US updates regarding the Crude Oil Inventories and more. Let’s see what awaits us today.

In Great Britain Monetary Policy Committee Meeting Minutes, It’s a detailed record of the Bank of England (BOE), MPC’s most recent meeting providing in-depth insights into the economic conditions that influenced their vote on where to set interest rates, and offering clues on the outcome of future votes.

In the US, Crude Oil Inventories, the number of barrels of crude oil held in inventory by commercial firms during the past week stabilizes on -3.0M. It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods.

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

In Australia, Melbourne Institute (MI) Leading Index, the level of a composite index based on 9 economic indicators is 0.2%.

More in Australia, Wage Price Index, the price businesses and the government pay for labor, excluding bonuses is 0.9, when businesses pay more for labor the higher costs are usually passed on to the consumer;

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

In New Zealand, Producer Price Index (PPI) Input the price of goods and raw materials purchased by manufacturers. When manufacturers pay more for goods the higher costs are usually passed on to the consumer stabilized on 1.3% and the PPI Output, the price of goods sold by manufacturers (Only includes goods produced domestically;), is stabilized on 1.8%.

That’s it for today. Happy forex trading!

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