Forex Daily Outlook May 8 2012

Housing Starts in Canada and BRC Retail Sales Monitor in the UK are the main events lined up.  Let’s see what awaits us today.

In the US, Jeffrey Lacker, Federal Reserve Bank of Richmond President; is due to speak in Greensboro.

Later In the US, Investor’s Business Daily (IBD) / TechnoMetrica Institute of Policy and Politics (TIPP) Economic Optimism, Consumer’s Survey to value the financial conditions such as six-month economic outlook, and confidence in federal monetary policies; rise of 1 point up to 50.3 from April is estimated.

In Canada, Housing Starts, value the new residential buildings that started building on the last month, decrees is expected from 216K on April down to 206K now.

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

In Europe, German Industrial Production, Monthly Measurement to value the total manufacturers, mines, and utilities output, rise is likely from -1.30% on April up to 0.80% now.

Later in Europe, Mario Draghi, European Central Bank (ECB) President; is about to speak in Frankfurt.

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

In Great Britain, British Retail Consortium (BRC) Retail Sales Monitor, value the sales at the retail level; due to remain 1.30% similar to April’s report.

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

In Switzerland, State Secretariat for Economic Affairs (SECO) Consumer Climate, households Survey to rate the  former and upcoming economic conditions, indicates pessimism with -18 points this time, 1 point less than on April.

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

In Australia, Trade Balance, value the difference between imported and exported goods and services on the last month, further reduce is expected from -0.48B on April down to 1.37B now.

Later in Australia, Annual Budget Release shows the domestic government spending and borrowing levels that can influence on the budget.

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

In New Zealand, Reserve Bank of New Zealand (RBNZ) Financial Stability Report, provides visions regarding the bank’s view on inflation, growth and so on, can also   affect the interest rates in the future.

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

For more events later in the week, check out the Live Forex Calendar