Forex Daily Outlook – February 14 2011

We start the week with Mortgage Delinquencies In the US and ECB President Jean-Claude Trichet deliver a speech in Liege .Let’s see what awaits us today.

In the US, Mortgage Delinquencies, Percentage of MBA-represented mortgages which were at least one payment late during the previous quarter is due to remain 9.13%. An important signal of the housing market’s health because it’s correlated with home inventories. Lower inventories will spur homebuilders to start new construction.

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

In Europe, ECB President Jean-Claude Trichet; Due to deliver a speech titled “Perspectives and Risks for the Belgian and European Economies” at the University, in Liege.

Later In Europe, Industrial Production, total inflation-adjusted value of output produced by manufacturers, mines, and utilities is about to reduce by 1.5%. production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings.

For more on the Euro, read the  EUR/USD forecast.

In Australia, Monetary Policy Meeting Minutes, It’s a detailed record of the RBA Reserve Bank Board’s most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.

Later in Australia, Home Loans, new loans granted for owner-occupied homes; is about to reduce by 0.7%. It’s a leading indicator of demand in the housing market – most homes are financed, so it provides an excellent gauge of how many qualified buyers are entering the market.

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

In New Zealand, Retail Sales, is about to reduce by 1.8%. while the Core Retail Sales (excluding automobiles) is about to rise by 0.1%. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

In Japan, Prelim Gross Domestic Product (GDP);   the broadest measure of economic activity and the primary gauge of the economy’s health; is about to reduce by 1.6%, while the Prelim GDP Price Index (goods and services included in GDP) is about to rise by 0.9%.

That’s it for today. Happy forex trading!