Forex Daily Outlook – October 17 2011
Daily Look

Forex Daily Outlook – October 17 2011

We start the week with Empire State Manufacturing Index in the US and BOC Business Outlook Survey in Canada as the main highlight on today’s outlook. Let’s see what awaits us today.

In the US, Charles Evans, Federal Reserve Bank of Chicago President, is due to lecture in Detroit.

Later in the US, Empire State Manufacturing Index, Monthly Survey (200 New York state manufacturers) to evaluate general business conditions, a rise from-8.8 in September is expected to -3.9 and still indicates falling conditions.

More in the US, Capacity Utilization Rate, the available resources manufacturer’s uses by Percentage on the last month, rise from 77.4% on September up to 77.5% is forecasted now.

Finally in the US, Industrial Production, value the change of output manufacturer’s production, 0.2% is foreseen like on the last month.

In Canada, Bank of Canada (BOC) Business Outlook Survey, a leading report that can be early indication of upcoming financial activity such as spending, hiring etc.

More in Canada, Foreign Securities Purchases, Entire value of foreigner’s home stocks and bonds over the last month, is due to reduce from 11.78B in September down to 9.23B.

Finally in Canada, New Motor Vehicle Sales is about to rise up to 2.3%.

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

In Great Britain, Rightmove House Price Index (HPI), leading  monthly measurement the change in the homes for sale asking price, is about to remain 0.7%.

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

In Australia, New Motor Vehicle Sales, value the number of new cars and trucks that were sold locally, due to remain 3.3% similar to the previous month.

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

In Japan, Revised Industrial Production is due to remain 0.8% like on the previous month.

Read more about the yen in the USD/JPY forecast.

For more events later in the week, check out the Live Forex Calendar

Anat Dror

Anat Dror

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