Forex Daily Outlook – May 10 2011

  Import Price Index in the US and Business Confidence in Australia are the main events lined up.  Let’s see what awaits us today.

In the US, Import Price Index, measuring changes in the rates of imported products. An indicator of inflation, reduce of 0.9% is expected for the monthly report and rise of 0.8% in the yearly.

More in the US, Wholesale Sales Inventories can affect the total inventory profile which can influence the GDP prediction. 0.1% is forecasted now.

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

In Switzerland, Trade Balance, measuring the difference between the value of import and export. A positive figure indicated a trade surplus while a negative one shows a trade deficit. Reduce rise of 0.426 Billion is expected.

More in Switzerland, CPI (Consumer price index) measures the cost of living by comparing basket of goods and services including volatile components, is likely to reduce by 0.1% on the Monthly report and 0.4% on the yearly.

In Australia, National Australia Bank Business Confidence, monthly marker based on a survey of businesses asked about their outlook for the next twelve months. It is a strong early indicator of future economic conditions. positive growth with 9 points is expected.

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

That’s it for today. Happy forex trading!