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Forex Daily Outlook April 3 2012

FOMC Meeting Minutes in the US and Halifax HPI in the UK are the main events lined up.  Let’s see what awaits us today.

In the US, Federal Open Market Committee (FOMC) Meeting Minutes, full record of the most recent FOMC’s meeting, shows the financial and monetary conditions that can influence the interest rates.

More in the US, Factory Orders, indicator of production to value the new manufacturer’s purchase orders over the last month, rise is likely from -1.0% on March up to 1.4%.

Finally in the US, Total Vehicle Sales, number of cars and trucks that were domestically sold on the last month, decline is forecasted from 15.1M on March down to 14.6M now.

In Europe, Final Gross Domestic Product (GDP), the value of all goods and services produced on the past quarter by the economy, -0.3 is expected with no change from the last time.

More in Europe, Producer Price Index (PPI), reduce of 0.2% is likely down to 0.5% from March.

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

In Great Britain, Construction Purchasing Managers’ Index (PMI), industry expansion with 53.6 points,   0.7 points less from March.

More in Great Britain, Halifax House Price Index (HPI), housing industry’s primary indicator to value the homes price change that are financed by HBOS Halifax Bank of Scotland (HBOS); -0.3% is predicted this month 0.2% less from March.

Final in Great Britain, British Retail Consortium (BRC) Shop Price Index, 1.2% is expected with no change from the last report.

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

In Australia, Reserve Bank of Australia (RBA) Rate Statement, used by the RBA Reserve Bank Board to communicate with stockholders regarding the monetary policy and on interest rates decision. Also discusses the financial outlook future decisions.

More in Australia, Cash Rate, the Interest rate for overnight money market deposits 4.25% like on the last months.

Later in Australia, Retail Sales, monthly report to value the sales at the retail level, 0.2% is expected, 0.1% less from the last month.

Finally in Australia, Australian Industry Group (AIG) Services Index, diffusion index based on a monthly survey, 46.7 points are predicted, similar to the last report.

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

In New Zealand, Australia and New Zealand Banking Group (ANZ) Commodity Prices, is due to remain with no change from the last month report.

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

In Japan, Average Cash Earnings, measures the employment income that is collected by workers over the passing month, rise of 0.2% is predicted from the last month.

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

That’s it for today.

Happy forex trading!