Forex Daily Outlook – November 3 2011


ISM Non-Manufacturing PMI in the US and Services PMI in the UK are the main events lined up.  Let’s see what awaits us today.

G20 Meetings (Day 1), the Group of Twenty (G20) is an important global policy-making figure effective at the uppermost level, which impact the cash markets.

In the US, Unemployment Claims, measures those who filed for unemployment insurance on the passing week, about to drop down from 402K on the last week to 401K now.

More in the US, The Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI), monthly managers’ survey to rate business conditions like employment, prices, inventories etc, is predicted to rise by 0.7 points up to 53.7.

More over in the US, Factory Orders, the value of new manufacturers’ orders on the passing month, about to rise up by [email protected] from October.

Later in the US, Prelim Nonfarm Productivity, quarterly measurement for labor efficiency, expected to rise from – 0.7% up to 2.6% this time.

Later on in the US, Prelim Unit Labor Costs quarterly measurement for consumer inflation is predicted to drop down from 3.3% down to -0.8% now.

Finally in the US, Natural Gas Storage, 92B is expected now similar to the past week.

In Europe, Minimum Bid Rate, measured the main banking system interest, is due to remain 1.5% with no change from the past months.

Finally in Europe, European Central Bank (ECB) Press Conference, key ECB method uses to connect investors regarding financial policy. Detailed and most recent policy decisions and provides clues for upcoming update monetary policy.

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

In Great Britain, Services Purchasing Managers’ Index (PMI), monthly purchasing manager’s survey is due to reduce by 1 point from October down to 51.9 points.

More in Great Britain, Mervyn King, Bank of England (BOE) Governor is about to give lecture in London.

Finally in Great Britain, Charles Bean, Bank of England (BOE) Deputy Governor is about to speak in London.

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

In Switzerland, Jean-Pierre Danthine, Swiss National Bank (SNB) Governing Board Member is due to deliver a lecture in Geneva.

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

In Australia, Retail Sales, key gauge of consumer spending is due to reduce by 0.1% from Octobers down to 0.5% now.

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

That’s it for today.

Happy forex trading!

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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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