Forex Daily Outlook – November 8 2010

President James Bullard & Governor Kevin Warsh due to deliver speeches in the US, German Industrial Production in Europe are only some of the  highlights   to start the week .Let’s see what awaits us today.

In the US, Federal Reserve Bank of St Louis President James Bullard due to speak about the possibility of a Japanese style deflation outcome for the US economy at the Society of Security Analysts, in New York. Used to drop subtle clues on future monetary policy.

Later in the US, Federal Reserve Governor Kevin Warsh due to deliver a speech titled “The Economy and the Conduct of Monetary Policy” at the Securities Industry and Financial Markets Association Annual Meeting, in New York. Used to drop subtle clues on future monetary policy.

In Canada, Housing Starts, new residential buildings that began construction during the previous month, about to reduce by 5K. A leading indicator since building construction produces a wide-reaching ripple effect.

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

In Europe, German Industrial Production, total inflation-adjusted value of output produced by manufacturers, mines, and utilities is about to reduce by 1.1%. Correlated with consumer conditions such as employment levels and earnings

Also in  Europe, German Trade Balance, Difference in value between imported and exported goods during the reported month is about to rise by 1.5B. Export demand also impacts production and prices at domestic manufacturers

Finally in Europe, Sentix Investor Confidence, Monthly Survey of about 2,800 investors and analysts which asks respondents to rate the relative 6-month economic outlook for the Eurozone indicates optimism with 10.1 points.

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

In Switzerland, Unemployment Rate total work force that is unemployed and actively seeking employment during the previous month; is about to reduce by 0.1%. A lagging indicator consumer spending is highly correlated with labor-market conditions.

In Australia, Australia and New Zealand Banking Group (ANZ); Job Advertisements, jobs advertised in the major daily newspapers and websites covering the capital cities is 0.7% like on the previous month.

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

In Japan, Bank of Japan (BOJ); It contains the statistical data that the BOJ Policy Board members evaluated when making the latest interest rate decision, and provides detailed analysis of current and future economic conditions from the bank’s viewpoint;

That’s it for today. Happy forex trading!

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.