Forex Daily Outlook – August 3 2011

ADP Non-Farm Employment Change 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, Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change (excluding b small industry and government), about to reduce from 157K to 102K is expected this time.

Later in the US, The Institute for Supply Management (ISM)) Non-Manufacturing Purchasing Managers’ Index (PMI), monthly measurement to value the business conditions by a survey of around 400 managers,   further rise from 53.3 points is expected to 53.9 points.

More in the US, Factory Orders, indicator to measure the total value of new acquisitions, about to reduce from 0.8% to -0.4%.

Finally in the US, Crude Oil Inventories, weekly inventory measurement, about to remain 2.3M that is similar to the previous time.

In Europe, Retail Sales, main indicator for consumer spending, a rise from -1.1% on the last month to 0.5% this time is expected.

More in Europe, Final Services Purchasing Managers’ Index (PMI); 51.4 points is expected with no change from the previous month.

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

In Great Britain, Services Purchasing Managers’ Index (PMI), measurement of business conditions based on a monthly survey, due to reduce from 53.9 points on the previous month to 53.3 points this month.

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

In Australia, Trade Balance, measures the change between imported and exported goods, a rise from 2.33B on the last month to 2.23B is forecasted this time.

More in Australia, Retail Sales is about to rise from -0.6% on the last month to 0.4%.

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

In New Zealand, Employment Change, quarterly measurement to value the number of working people, reduce from 1.4% on the last quarter to 0.1% is expected now. While on the Unemployment Rate that measures by Percentage the actively looking for employment is about to reduce by 0.1% and reach 6.5%.

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

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