Forex Daily Outlook – October 20 2011
Daily Look

Forex Daily Outlook – October 20 2011

Existing Home Sales in the US and Retail Sales in the UK are the major market-movers. Let see what awaits us today.

In the US, Unemployment Claims, value the persons that on the first time filed for unemployment insurance over the passing week, rise of 1K is expected up to 405K.

Later in the US, Existing Home Sales, the number of sold domestic buildings over the last month, (without new construction), due to reduce from 5.03M on September down to 4.94M.

More in the US, Philly Fed Manufacturing Index, value the general business conditions by a survey of 250 manufacturers in the Philadelphia Federal Reserve district; rise from -17.5 points on September to -9 points is foreseen and still indicates falling conditions.

Moreover in the US, Daniel Tarullo, Federal Reserve Governor, scheduled to lecture in New York.

Also in the US, The Conference Board (CB) Leading Index is due to drop down to 0.2%.

Finally in the US, Natural Gas Storage is due to remain 112B.

In Canada, Wholesale Sales, the entire value of the wholesale, is about to reduce from 0.8% on September down to 0.5% this month.

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

In Europe, German Producer Price Index (PPI), value the change in manufacturers price of goods is about to rise from -0.3% on September up to 0.3% now.

More in Europe, Consumer Confidence is about to be -20 points this time.

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

In Great Britain, Retail Sales, value of the full retail level sales and due to rise from -0.2% on September up to 0.1%.

More in Great Britain, Nationwide Consumer Confidence, rate the present and upcoming financial conditions by a monthly survey of around 1,000 consumers, rise of 2 points up to 50 points are predicted this time.

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

In Switzerland, Trade Balance, value between export currency demands, rise from 0.76B on September up to 1.37B is likely.

More in Switzerland, Zentrum fur Europaische Wirtschaftsforschung (ZEW) Economic Expectations, monthly measurement by survey to rate the financial outlook for Switzerland on the last six months, likely to remain -75.7 like on the last report.

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

In Australia, National Australia Bank (NAB) Quarterly Business Confidence, flow index based on surveyed trades, without the farming industry is about to remain 6 points similar to the previous survey.

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

In New Zealand, Visitor Arrivals, is about to remain 8% this time.

For more about the kiwi, see the NZD/USD forecast.

Trade well

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