Forex Daily Outlook – December 6 2010
Daily Look

Forex Daily Outlook – December 6 2010

Interesting news regarding Building Permits in Canada, and Fed Chairman Bernanke Speaks in the US, these are just a few of the important events this week. Let’s see what awaits us today.

In the US, Federal Reserve Chairman Ben Bernanke, due to speak about monetary policy in his televised interview, on CBS. The interview was conducted a week earlier. Can affects the short term interest rates.

Later in the US, Treasury Currency Report (Twice per year), it provides a detailed review of global exchange rate policies, economic conditions, and central bank and government actions around the world. Most importantly, the report outlines counties that the Treasury deems currency manipulators.

In Canada, Building Permits, value of new building permits issued is about to reduce by 17.4%, excellent gauge of future construction activity.

More in Canada, Ivey Purchasing Managers’ Index (PMI); Survey of about 175 purchasing managers, selected geographically and by sector of activity to match the economy as a whole, to rate the relative level of business conditions, indicates industry expansion like on the previous month with 56.7 points.

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

In Europe, Sentix Investor Confidence, Survey of about 2,800 investors and analysts which asks respondents to rate the relative 6-month economic outlook for the Eurozone indicates pessimism with 13.8 points.

For more on the Euro, read the  EUR/USD forecast and Casey Stubbs’  latest analysis.

In Great Britain, Halifax House Price Index (HPI), price of homes financed by HBOS is about to reduce by 1.5%. Rising house prices attract investors and spur industry activity.

More in Great Britain, BRC Retail Sales Monitor value of same-store sales at the retail level is about to be 0.8 similar to the previous month.

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

In Australia, ANZ Job Advertisements, jobs advertised in the major daily newspapers and websites covering the capital cities is about to be 0/6% similar to the previous month.

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

In Japan, Leading Indicators, composite index based on 12 economic indicators is about to reduce by 1%. Combined reading of 12 economic indicators related to employment, production, new orders, consumer confidence, housing, stock prices, money supply, and interest rate spreads.

That’s it for today. Happy forex trading!

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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