Forex Daily Outlook – August 23 2011


New Home Sales in the US and ZEW Economic Sentiment in Europe are the main events lined up.  Let’s see what awaits us today.

In the US, New Home Sales, important monthly indicator to rate the new homes that were sold, rise to 313K is expected from 312K on July.

Later in the US, Richmond Manufacturing Index is expected to further reduce to -7 points.

In Canada, Retail Sales, monthly report and major indicator of consumer spending, is due to rise from 0.1% on July to 0.6^ this month. And on the Core Retail Sales (without vehicles) small reduce from 0.5% to 0.3%
is possible.

Later in Canada, Jean Boivin, Bank of Canada (BOC) Deputy Governor is expected to speech in Kingston.

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

In Europe, Flash Manufacturing Purchasing Managers Index (PMI), monthly survey to measure manufacturing purchasing manager’s business conditions, 49.6 points are forecasted (0.8 points less than the previous survey), 50.9 points in Germany and 50.1 points in French.

More in Europe, Flash Services Purchasing Managers Index (PMI), survey to measure purchasing manager’s services, 51 points are
forecasted (0.6 points less than the previous survey), 52.1 points in Germany and 53.3 points in French.

More in Europe, Zentrum für Europäische Wirtschaftsforschung  (ZEW) Economic Sentiment, monthly survey to
measure consumer economic conditions, further rise is expected to -6.2 points
(-7 points on the last time) and reduce from -15.1 points to -24.8 points in

Finally in Europe, Consumer Confidence -12 points are forecasted for this month.

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

In Great Britain, Martin Weale, External BOE MPC Member is expected to speech in Dublin.

More in Great Britain, British Bankers’ Association (BBA) Mortgage Approvals, new mortgages accepted by BBA-represented banks,
during the previous month; 32.3K is foretold this month.

Finally in Great Britain, Confederation of British Industry (CBI) Industrial Order Expectations, 3 month Survey (550 manufacturers) level of order volume likely for the next 3 months. Further reduce to -0.3%.

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

In Switzerland, Trade Balance, measuring the price of export and. Import to determine trade surplus or deficit, 1.83B is epected in compare to 1.77B on July.

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

In Australia, Ric Battellino, Reserve Bank of Australia (RBA) Deputy Governor about to speech in Sydney.

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

In New Zealand, Inflation Expectations, the expectation of services and goods price change on the next 2 years, 3.0% is expected with small change over the last quarter.

More in New Zealand, Trade Balance, measuring the price of export and. Import to determine trade surplus or deficit, significant reduces from 230M on the last month to -99M this time.

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

In Japan, Corporate Services Price Index (CSPI), expected to rise to -0.4%.

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

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About Author

Anat Dror – Senior Writer

I conceptualize, design and create multi-lingual websites. Apart from the technical work, my projects usually consist of writing content for these sites in English, French and Hebrew.

In the past, I have built, managed and marketed an e-learning center for language studies, including moderating a live community of students.

I’ve also worked as a community organizer

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