Forex Daily Outlook April 24 2012
Daily Look

Forex Daily Outlook April 24 2012

CB Consumer Confidence in the US and Public Sector Net Borrowing in the UK are the main events lined up.  Let’s see what awaits us today.

Group of Seven (G7) Meetings, an influential global policy-making body that is operating at the uppermost level to impact the currency markets.

In the US, The Conference Board (CB) Consumer Confidence, Monthly Survey to value the existing and forthcoming financial conditions and overall monetary situation, is about to drop down from 70.2 69.9 on March to 69.9 points now.

Later in the US, New Home Sales, measures s of sold new single-family households over the last month, due to rise up from 313K on March up to 321K this time.

More in the US, Standard & Poor’s (S&P) Case-Shiller (CS), S&P/CS Composite-20 House Price Index (HPI), main housing industry’s   indicator that is about to rise from -3.5% from -3.8% on the previous month.

Also in the US, Office of Federal Housing Enterprise Oversight (OFHEO) House Price Index (HPI), value the price change in the homes purchase that are with Fannie Mae and Freddie Mac mortgages, is due to rise up to 0.1% this month.

Finally in the US, Richmond Manufacturing Index is due to remain 7 potins similr to the previous survey.

In Canada, Retail Sales shows the total sales value on the last month, reduce from   0.50%  on March down to 0.20%  is predicted now, while on the Core Retail Sales (no including automobiles), rise is forecasted from -0.50% on March up to 0.80% this time.

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

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

In Europe, Industrial New Orders, production important indicator to measure the new manufacturer’s purchase orders, is about to rise from -2.30% on March up to 1.40% now.

More in Europe, Belgium NBB Business Climate, Survey to value the business conditions and expectations for the next 6 months, is due to rise up from -9.6 in March up to -8.3 now.

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

In Great Britain, Public Sector Net Borrowing, the difference between spending and income for public corporations, central and local government over the last month, indicates budget deficit with rise of 2.7 B up to 15.6B this month.

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

In Switzerland, Trade Balance, value the difference between imported and exported goods more goods were exported than imported with 1.99B this month, 0.69B reduce from March.

More in Switzerland, UBS Consumption Indicator, composite index based on 5 consumer financial indicators; is due to remain 0.87.

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

In Australia, Consumer Price Index (CPI), account for the common overall inflation and value the consumer’s price change of goods and services, due to rise up to 0.80% from March. Meanwhile on the Trimmed Mean CPI (without the most volatile 30% of items) is due to remain 0.60% like on the last quarter.

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

In New Zealand, Credit Card Spending, measures the credit card’s spending facilitated over the last month and 4% is about to remain this time.

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

That’s it for today.

Happy forex trading!

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