Forex Daily Outlook – July 6 2011

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ISM Non-Manufacturing PMI in the US and Halifax HPIin the UK are the main events today.  Here is an outlook on the market-movers awaiting us

In the US, The Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI), monthly survey of about 400 managers to value the business, a small reduce from 54.6 points on June to 53.9 point this time.

Later in the US, Challenger Job Cuts, report to value the cutoff number in the job workflow, is about to remain -4.3% like on the previous month.

In Canada, Building Permits, report to measure the new building licenses that were issued over the passing month and can predict the upcoming construction activity, a rise from -21.1% on June to 5.1% this month is expected.

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

In Europe, German Factory Orders, measurement of new manufacturers’ orders on the passing month, reduction is expected from 2.8% to -0.5%.

More in Europe, Final Gross Domestic Product (GDP) is about to remain 0.8%.

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

In Great Britain, Halifax HPI, important indicator, is about to remain 0.1% similar to the previous month.

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

In Australia, Australian Industry Group (AIG) Construction Index is expected to be 396% with small change from the last report.

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

In New Zealand, Gross Domestic Product (GDP); main indicator to value services and goods made by the economy, a rise from 0.2% on June to 0.3% this month is expected.

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

In Japan, Core Machinery Orders, measurement of value of new manufacturers acquisition in the privet sector excluding boats and services; is about to rise from -3.3% on June to 3.1% this time.

More in Japan, Leading Indicators is about to reach 99.9%.

 Read more about the yen in the USD/JPY forecast.

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

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About Author

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

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