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Forex Daily Outlook April 2 2012

We start the week with some interesting events like ISM Manufacturing PMI in the US and BOC Gov Carney Speaks in Canada as the main highlights on today’s outlook. Let’s see what awaits us today.

In the US, The Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI); Monthly Survey to rate the business conditions such as employment, new orders, supplier deliveries, inventories and so on, expansion is predicted with a rise of 0.9 points up to 53.3 points. And a similar rise is expected in the ISM Manufacturing Prices up to 63.3 points.

More in the US, Sandra Pianalto, Federal Reserve Bank of Cleveland President is about to speak in Marietta.

Finally in the US, Construction Spending is due to rise up from-0.1% on March up to 0.8% this month.

In Canada, Bank of Canada (BOC) Governor Mark Carney is about to speak in Waterloo.

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

In Europe, Unemployment Rate, measures by percentage unemployed which are actively seeking for jobs from March, 10.7% is predicted similar to the last time.

More in Europe, Final Manufacturing Purchasing Managers’ Index (PMI); 47.7 points are predicted similar to March Survey.

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

In Great Britain, Manufacturing Purchasing Managers’ Index (PMI), Survey to rate the business conditions like production, new orders, supplier deliveries, and so on, industry expansion is likely with 50.5 points, 0.7 points less from March.

More in Great Britain, Halifax House Price Index (HPI), value the price change of homes financed by Halifax Bank of Scotland (HBOS), rise of 0.2% is forecasted to -0.3% now.

Finally in Great Britain, Housing Equity Withdrawal, is about to rise up to -7.4B.

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

More in Switzerland, Schweizerischer Verband fur Materialwirtschaft und Einkauf (SVME) Purchasing Managers’ Index (PMI), Survey to measure the business conditions including, is about to rise up by 0.5 points to 49.5 points.

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

In Australia, Building Approvals, value the new building approvals that were issued on the past month, reduce of 0.3% from March is predicted down to 0.6%.

More in Australia, AIG Manufacturing Index, Australian Industry Group (AIG), is about to remain 5.1 points similar to the last month survey.

Later in Australia, Melbourne Institute (MI) Inflation Gauge, is due to remain 0.1% like on March.

Finally in Australia, Commodity Prices 3.5% is predicted similar to March’s report.

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

In Japan, Tankan Manufacturing Index, value the diffusion index that is based on manufacturer’s survey, rise of 4 points is predicted from -4 points on March. While on the Tankan Non-Manufacturing Index, rise of 1 point is expected up to 5 points this time.

More in Japan, Monetary Base, is due to rise up from 11.3% on March up to 12.6% now.

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

That’s it for today.

Happy forex trading!