Forex Daily Outlook – November 19 2010

We end this week with Federal Reserve Chairman Ben Bernanke speech in Frankfurt and some more exciting news .Let’s see what awaits us today.

In the US, Federal Reserve Chairman Ben Bernanke; due to speak at the European Central Bank’s “Approaches to Monetary Policy Revisited – Lessons from the Crisis” Conference in Frankfurt. He controls short term interest rates and can affect the future monetary policy.

In Canada, Bank of Canada (BOC) Deputy Governor Jean Boivin, due to deliver a speech titled “Where the Economy and Finance Meet” at the Okanagan CFA Society, in Kelowna. Responsible for the nation’s key interest rates are can affect the future monetary policy.

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

In Europe, German Producer Price Index (PPI), price of goods sold by manufacturers is about to reduce by 0.1%. When manufacturers charge more for goods the higher costs are usually passed on to the consumer.

Also in  Europe, European Central Bank (ECB); President Jean-Claude Trichet; due to deliver a speech titled “Beyond Crisis Management” at the European Banking Congress, in Frankfurt. Controls short term interest rates and can affect the future monetary policy.

For more on the Euro, read the  EUR/USD forecast and Casey Stubbs’  latest analysis.

In Great Britain, Policy Committee (MPC) Deputy Governor Paul Tucker; due to speak at the European Banking Congress, in Frankfurt. Affects the interest rates and future monetary policy.

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

In New Zealand, Credit Card Spending, total spending facilitated with a credit card is about to be 4.1%, similar to the previous month. It’s correlated with consumer spending and confidence – rising debt levels are a sign that lenders feel comfortable issuing loans, and that consumers are confident in their financial position and eager to spend money.

In Japan, All Industries Activity, goods and services purchased by businesses is about to reduce by 0.2%. It’s a leading indicator of economic health – businesses are quickly affected by market conditions, and changes in their spending can be an early signal of future economic activity such as hiring, earnings, and investment.

That’s it for today. Happy forex trading!

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