Forex Daily Outlook April 4 2012

ISM Non-Manufacturing PMI in the US and Services PMI in the UK are the main events today.   Here is an outlook on the market-movers awaiting us

In the US, The Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI), Survey business conditions like production, prices, deliveries, inventories etc., industry expansion with 56.8 points is expected, 0.5 points less from the last month.

More in the US, Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change, measures the number of employed people on the last month (Not including farming industry and government), due to decline from 216K on March to 209K this time.

Later in the US, Timothy Geithner, US Treasury Secretary is due to speak in Chicago.

Finally in the US, Crude Oil Inventories, number of crude oil barrels n inventory over the past week, due to remain 7.1M similar to the last week report.

In Canada, Jean Boivin, Bank of Canada (BOC) Deputy Governor is due to speak in Toronto.

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

In Europe, Minimum Bid Rate, predicts the future change of Short term interest rates, 1.00% is predicted with no change from the last months.

More in Europe, European Central Bank (ECB) Press Conference is expected by the ECB President and Vice President.

Later in Europe, Retail Sales, measures the total value of all retail level sales over the past month, due to reduce by 0.2% from March down to 0.1%.

Also in Europe, German Factory Orders, monthly indicator to value the new manufacturer’s purchase orders, rise is forecasted up to 1.3% this time from -2.7% on March.

Finally in Europe, Final Services Purchasing Managers’ Index (PMI), due to remain 48.7 points similar to the last month.

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

In Great Britain, Services Purchasing Managers’ Index (PMI), Monthly Survey to rate the business conditions such as production, prices, supplier deliveries, and so on, indicates industry expansion is predicted with 53.5 points, 0.3 points less from March.

More in Great Britain, Halifax House Price Index (HPI), value the price change of homes that are been financed by Halifax Bank of Scotland (HBOS); -0.3% is predicted 0.2% growth from March.

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

In Australia, Trade Balance, value the difference in between imported and exported goods and services on the previous month, rise up to 1.12B this time and shows that more goods and services were exported than imported from -0.67B on the last month.

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

In New Zealand, Australia and New Zealand Banking Group (ANZ) Commodity Prices no change is predicted from the last report.

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

That’s it for today.

Happy forex trading!