Forex Daily Outlook – April 18 2011

Consumer Confidence  in Europe is the main highlight on today’s outlook. Let’s see what awaits us today.

In the US, NAHB housing Market Index includes sales of existing homes and future construction indicating the housing market conditions in the United States gave a reading of 17 March. The same figure in predicted in the current month

Later in the US, St. Louis Fed President James Bullard is scheduled to talk at Kentucky Day at Louisville, Kentucky. The title of his lecture is “The U.S. Economic Situation and Recent Monetary Policy Developments”.

Finally in the US, Dallas Federal Reserve Bank President Richard Fisher is scheduled to deliver a speech regarding the US economy at the Rotary Club, in Atlanta.

In Canada, Foreign investment in Canadian securities showing the value of investments bought by non-nationals from Canada reached $13.29 billion in January and is expected to decrease to $10.00 billion this time. Meantime investment in foreign securities dropped to $-1.98 billion.

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

In Europe, Consumer Confidence leading index dropped to -10.6 from -10.00 in the previous month. A further drop to 11.0 is expected now.

For more on the Euro, read the  EUR/USD forecast

In New Zealand, CPI increased by 2.3% in the previous quarter in line with expectations and is likely to decrease this time.

That’s it for today. Happy forex trading!