Forex Daily Outlook August 2 2012
Unemployment Claims in the US and Asset Purchase Facility in the UK are the major market-movers. Let see what awaits us today.
In the US, Unemployment Claims, weekly indicator to value who filed for unemployment insurance on the last week for the first time, 375K is predicted, 2K more then on July.
Later in the US, Factory Orders, value of new manufacturers purchase orders, reduce is likely from 0.7% on July down to 0.4% now.
Also in the US, Challenger Job Cuts, measures the number of job cuts announced by employers over the last month, -9.4% is likely to remain with no change from the last time.
Finally in the US, Natural Gas Storage no change from the last time is forecasted and 26B is estimated.
In Europe, EUR, Minimum Bid Rate, Short term interest rates, no change is likely from the last time and 0.75% is about to remain. And it is followed by a European Central Bank (ECB) Press Conference.
Later in Europe, Spanish Unemployment Change, measures the outstanding job applications over the passing month, -98.9K is due to remain similar to the last month.
Also in Europe, Producer Price Index (PPI), finished goods and services price change, due to rise in 0.2% to -0.3%.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain, Construction Purchasing Managers’ Index (PMI), Survey the business conditions like employment, new orders, supplier deliveries and inventories, rise of 0.1 points is predicted up to 48.3 points from the last month.
Later in Great Britain, Asset Purchase Facility, value the money that the Bank of England (BOE) will create and use for assets purchasing in the open market, 375B is likely to remain similar to July’s report.
Also in Great Britain, Monetary Policy Committee (MPC) Rate Statement is a main tool that the MPC uses to communicate with investors regarding the financial policy. It also discusses the economic outlook. Meanwhile the Official Bank Rate, id due to remain 0.50% like on the last months.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Retail Sales, value the sales at the retail level (without cars and gas stations), due to reduce from 6.2% on July down to 3.6% now.
Later in Switzerland, Schweizerischer Verband fur Materialwirtschaft und Einkauf (SVME) Purchasing Managers’ Index (PMI), Monthly Survey to rate the relative level of business conditions such as production, prices and inventories, is about to drop down from 48.1 points on July to 47.2 points now.
Read more about the Swiss franc in the USD/CHF forecast.
In Australia, Retail Sales, main indicator of consumer spending and value all the sales at the retail level, rise of 0.1% is likely up to 0.6% from July.
Later in Australia, Australian Industry Group (AIG) Services Index, Survey to value the business conditions like production, new orders, prices, etc., 48.8 points are calculated similar to the last month report.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, NZD, ANZ Commodity Prices, no change is likely from July and -2.4% is due to remain.
For more about the kiwi, see the NZD/USD forecast.