Forex Daily Outlook – May 13 2011

CPI in the US and GDP in Europe are the major events this day. Here is an outlook on the market-movers awaiting us.

In the US, CPI (Consumer price index) measures the cost of living by comparing basket of goods and services including volatile components, is likely to rise by 0.1% both in the monthly and yearly reports. Meantime Core CPI excluding two volatile components food and energy provides a stable figure at the cost of disregarding two important sectors in the economy; this index figure is expected to rise by 0.1% in the monthly report and 0.4% in the yearly.

Later in the US, Reuters / Michigan Consumer Sentiment Index, evaluates consumer confidence in personal funds, business conditions and consumption based on surveys. Conducted by the University of Michigan. The major indicator of consumer sentiment. Shows positive growth with 70 points.

In Canada, Motor Vehicle Sales, measuring the total amount of vehicle sales in the Canada, indicator for the total financial climate, is expected to remain 3.2% similar to the previous month.

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

In Europe, Gross Domestic Product (GDP), the broad measure of the Eurozone, total value of all goods and services produced by the Eurozone. Is expected to rise by 0.2% on the yearly report and by 0.4% on the quarterly. And the in Germany a rise of 0.5% is forecasted.

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

In Switzerland, Producer and Import Prices consumer price inflation indicator that measures imported goods cost and affect that they will have on inflation. Is forecasted to remain 0.4% on the monthly report and 0.1% on the yearly.

That’s it for today. Happy forex trading!