Forex Daily Outlook – August 12 2011

Retail Sales in the US and Industrial Production in Europe are the major events this day. Here is an outlook on the market-movers awaiting us.

In the US, Retail Sales, monthly indicator to value the total retailed sales, about to rise from 0.1% to 0.4%. Meanwhile the Core Retail Sales (excluding automobiles) is due to rise by 0.2%.

Later in the US, Prelim University of Michigan (UoM) Consumer Sentiment, a monthly survey of around 500 consumers to value the present and upcoming financial conditions. And the Prelim UoM Inflation Expectations is due to remain 3.4% similar to the former report.

More in the US, Business Inventories, the value of goods that are held as manufacturer’s inventory, is about to reduce to 0.7%.

Finally in the US, William Dudley, President of the Federal Reserve Bank is due to deliver a speech in New York.

In Europe, French Prelim G Gross Domestic Product (GDP), main report to value all financial production of goods and services, due to continue reducing go 0.3%.

More in Europe, French Prelim Non-Farm Payrolls, quarterly report of number of employed that continue to reduce and 0.2% is expected this time.

Also in  Europe Industrial Production, leading measurement to value the output of manufacturer’s production, 0.1% is likely this time.

Finally in Europe, French Consumer Price Index (CPI) is expected to remain 0.1% with no change from the last report.

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

In Japan, Revised Industrial Production is expected to remain 3.9% like on the previous month.

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

Happy forex trading