Forex Daily Outlook April 10 2012

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Japan‘s rate decision and Dennis Lockhar’s speech are the major market-movers. Let’s see what awaits us today.

In the US, Federal Reserve Bank of Atlanta President Dennis Lockhart is scheduled to speak in Stone Mountain. His words can provide information regarding future monetary policy.

More in the US, IBD/TIPP Economic Optimism U.S. consumers were more pessimistic about the US economy in March with a 1.9 points drop to 47.5. This reading was lower than the 53.2 rise predicted by analysts. An increase to 49.1 is predicted now.

Later in the US, Wholesale Inventories The value of goods stored in wholesale increased by 0.4%, less than the 0.7% predicted in January after 1.1% increase in December. A small rise of 0.5% is expected now.

In Europe, French Industrial Production measuring the value of production gained only 0.3% in January lower than the 0.6% increase predicted after a 1.3% drop in December. A 0.2% rise is predicted now.

More in Europe, Sentix Investor Confidence investors’ sentiment grew less than predicted from-11.1 in February to-8.2 in March. Analysts anticipated a better result of -5.4. Another improvement to -7.7 is expected this time.

Later in Europe, German Trade Balance surplus has widened more than predicted in January reaching 14.2 billion from 13.9 billion in December. Economists  expected a 13.8 billion figure.  A small decrease to 13.6 billion is anticipated.

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

In Great Britain, BRC Retail Sales Monitor measuring the value of retail sales dropped 0.3% in February after the same decrease in the previous month.

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

In Australia, ANZ Job Advertisements. The number of want ads increased 3.3% in February following a 7.5% leap in the previous month, a good indicator of economic activity.

More in Australia, NAB Business Confidence dropped to1 in February despite improvement in market conditions. This reading followed a reading of4 in January. Nevertheless it still remains positive.

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

In New Zealand, NZIER Business Confidence plunged in the last quarter of 2011 reaching 0 from25 in the third quarter.Canterbury’s rebuilding activities supported growth in the two preceding quarters.

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

In Japan, Monetary Policy Statement and Overnight Call Rate. The BOJ is expected to continue its accommodating monetary policy to fight deflation and boost Japanese economy. No change in rates is expected.

More in Japan, Core Machinery Orders Private sector tool orders jumped 3.4% in January  way above the 1.9% gain predicted by analysts following the 7.1% drop in December. A decline of 0.7% is predicted now.

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

That’s it for today.

Happy forex trading!

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About Author

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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