Forex Daily Outlook – February 21 2011

We start the week with very interesting events such as German Ifo Business Climate In Europe and much more .Let’s see what awaits us today.

In Europe, German Information and Forschung (Ifo) Business Climate, Survey of about 7,000 businesses which asks respondents to rate the relative level of current business conditions and expectations for the next 6 months, is due to remain 110.3 points. This survey is highly respected due to its large sample size and historic correlation with German and wider Eurozone economic conditions.

Also in  Europe, Flash Manufacturing Purchasing Managers’ Index (PMI); Survey of about 600 purchasing managers to rate the relative level of business conditions, purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy, is about to remain similar to the previous month in Europe 57.3 points, in German 60.3 points and in French 55 points.

more in Europe, Flash Services Purchasing Managers’ Index (PMI), Survey of about 600 purchasing managers to rate the relative level of business conditions, is about to remain similar to the previous month in Europe 56 points, in German 60.3 points and in French 58 points.

Finally in Europe GfK German Consumer Climate, Survey of about 2,000 consumers to rate the relative level of past and future economic conditions, is about to rise by 1 point and accounts for a majority of overall economic activity.

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

In Great Britain, Rightmove House Price Index (HPI), price of homes for sale; UK’s earliest report on housing inflation and due to remain 0.3%.

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

In New Zealand, Inflation Expectations, Percentage that business managers expect the price of goods and services to change annually during the next 2 years is due to remain 2.6%.

Later in New Zealand, Credit Card Spending, total spending facilitated with a credit card due to remain 2% and correlated with consumer spending and confidence.

In Japan, All Industries Activity, total value of goods and services purchased by businesses; is about to rise by 0.2%.

That’s it for today. Happy forex trading!