Forex Daily Outlook August 3 2012

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We end this week with Unemployment Rate in the UK and Services PMI in the UK as the major events of the day. Here is an outlook on the market-movers awaiting us.

In the US, Non-Farm Employment Change, value the number of employed on the previous month (now including the farming industry), rise from 80K on July up to 101K is likely.

Later in the US, Unemployment Rate, shows by percentage all the unemployed that are actively seeking employment, 8.2% is due to remain similar to the last month.

Also in the US, The Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI), Survey to value the relative level of business conditions like production, prices, supplier deliveries and inventories is due to rise by 0.1 points from July up to 52.2 points.

Finally in the US, Average Hourly Earnings, the price that businesses pay for labor (without the farming industry) is due to reduce by 0.1% from July down to 0.2%.

In Europe, EUR, Retail Sales, measures all the sales at the retail level, due to reduce from 0.6% on the last month down to 0.1% now.

Later in Europe, Spanish Services Purchasing Managers’ Index (PMI), 43.4 points are likely with no change from the last month survey. And similar predinction is expected on the Final Services PMI with 47.6 points.

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

In Great Britain, GB, Services Purchasing Managers’ Index (PMI), Monthly Survey to rate the business conditions such as employment, new orders, supplier deliveries and inventories, rise of 0.4 points is likely now from 51.3 points on July up to 51.7 points now.

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

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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.

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