Forex Daily Outlook – July 4 2011

We start the week with Construction PMI in the UK and RMPI   in Canada as the main highlight on today’s outlook. Let’s see what awaits us today.

In Canada, Raw Materials Price Index (RMPI) monthly measurement to value the price change of raw supplies acquired by manufacturers, after a rise to 6.8% on the last month this time reduce to -2.5% is expected. And in the Industrial Product Price Index (IPPI) reduce of 0.5% is expected this time.

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

In Europe, Sentix Investor Confidence, monthly survey of about 2,800 analysts to value the relative 6-month economic view for the Eurozone over the last 6 months, a drop to 1.1 points from the last time.

More in Europe, Producer Price Index (PPI), monthly measurement to show the price change of services and finished goods traded by manufacturers, I likely to reach -0.1%.

For more on the Euro, read the  Euro to dollar forecast.

In Great Britain, Construction Purchasing Managers’ Index (PMI), survey of about 170 acquiring managers released monthly to measure the comparative level of business conditions, is about to be 53.6 points, similar to 54 points on the June.

More in Great Britain, Housing Equity Withdrawal, quarterly report to measure the value of the house sector, non-used credits for home purchases or developments, is likely to reduce to 6.2 billion.

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

In Switzerland, Retail Sales, monthly report to value the total trades excluding cars and gas stations; is about to reduce from 7.5% on June to 4.6% this month.

More in Switzerland, Philipp Hildebrand, Swiss National Bank (SNB) Governing Board Chairman is due to speech in Edinburgh.

Read more about the Swiss franc in the USD/CHF forecast.

In Australia, Building Approvals, report to measure the number of new Change in the number of new house approvals that were give out over the passing month, a rise from -1.3% on June to -0.4% is expected this time.

More in Australia, Australia and New Zealand Banking Group (ANZ) Job Advertisements, monthly report to show the jobs advertisement in the capital cities’ main media, is likely to remain -6.5% similar the last report.

Later in Australia, Retail Sales, index to value the amount of retailed sales over the last month, a reduction is expected from 1.1% on June to 0.3% this month.

Also in Australia, AIG Services Index, survey of 200 service providers to value the business condition on the passing month, 49.9 points is expected, similar to the previous time.

Finally in Australia, Melbourne Institute (MI) Inflation Gauge, report to show the services and goods price change on the passing month, 0.2% is expected like on the last time.

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

In New Zealand, New Zealand Institute of Economic Research (NZIER) Business Confidence, survey of around 3500 businesses to value the economic outlook over the past 6 month, -27 points is expected this time, that is similar to the previous month.

More in New Zealand, Australia and New Zealand Banking Group (ANZ) Commodity Prices, report to value the price of exported merchandises.

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

For more events later in the week, check out the Live Forex Calendar