Forex Daily Outlook August 31 2012

We end this week with Fed Chairman Bernanke Speaks and GDP  in Canada as the major events of the day. Here is an outlook on the market-movers awaiting us.

Jackson Hole Symposium – Day 2, Annually Economic Symposium that is held in Jackson Hole, Wyoming, for central bankers, finance ministers, academics, and financial market participants from around the world. It also can create significant market volatility.

In the US, Ben Bernanke, Federal Reserve Chairman, is due to speak in in Jackson Hole,

Later in the US, USD, Chicago Purchasing Managers’ Index (PMI), Monthly Survey to value the business conditions, drop of 0.1 points is due down to 53.6 points now.

Also in the US, Revised UoM Consumer Sentiment, Survey to rate the present and future financial conditions, due to rise up from 73.6 points on July up to 73.7 now.

Finally in the Us, Factory Orders, value all the new manufacturers’ purchase orders, rise is likely from -0.5% on July up to 1.1% this time.

In Canada, Gross Domestic Product (GDP); value of all goods and services that are produced by the economy, 0.1% is expected with no change from the last month.

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

In Europe, German Retail Sales, value the total sales at the retail level (without cars and gas stations), 0.2% is due this time from -0.1% in July.

Later in Europe, Consumer Price Index (CPI) Flash Estimate, measures the consumer’s price change of goods and services, 2.5% is estimated now from 2.4% on the last month.

Also in Europe, Unemployment Rate, to value by percentage all the unemployed that are actively seeking employment, rise of 0.1% is due from July up to 11.3%.

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

In Great Britain, Adam Posen, External Bank of England (BOE) Monetary Policy Committee (MPC) Member is due to speak in Jackson Hole.

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

In Australia, Private Sector Credit, shows the monthly total value of new credit that were issued to consumers and businesses, rise of 0.1% is predicted from July up to 0.4%.

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

In Japan, Housing Starts the new residential buildings that began construction is due to further reduce from -0.2% on July down to -9.9% this month.

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

Trade well