Forex Daily Outlook – August 9 2011

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FOMC Statement in the US and Manufacturing Production in the UK are the main events lined up.  Let’s see what awaits us today.

In the US, Federal Open Market Committee (FOMC) Statement, the main FOMC key tool regarding monetary policy. It forecast the interest rates and other policy measures.

Later in the US, Federal Funds Rate, scheduled 8 times per year to value the Interest rate used by the banks, 0.25% is predicted with no changes from the past times.

More in the US, Prelim Nonfarm Productivity, quarterly report to value the labor proficiency when producing services and goods, without farming industry is about to reduce to -0.6% from 1.8% on the last time. Meanwhile the Prelim Unit Labor Costs that measures the price businesses pay for labor is about to rise from 0.7% on the last time to 2.1%.

In Canada, Housing Starts, monthly indicator to measure new inhabited buildings under construction on the prior month; small reduce from 201K to 194K is predicted this month.

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

In Europe, German Trade Balance, monthly measurement to value among imported and exported goods, 12.9B is predicted that is similar to the previous time.  And French Gov Budget Balance remains -68.4B like on the last report.

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

In Great Britain, Manufacturing Production, monthly report to value the value of manufacturers production, reduce from 1.8% on July to 0.3% this time is foreseen.

More in Great Britain, Trade Balance, the value between imported and exported goods is about to remain -8.2B similar to the previous time.

Later in Great Britain, National Institute of Economic and Social Research (NIESR) Gross Domestic Product (GDP); services and goods that were produced on the last 3 months,  is due to remain 0.1% like on the last month.

Finally in Britain, Industrial Production is about to reduce to 0.4%.

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

In Switzerland, SECO Consumer Climate 3 months survey of around 1,100 households to value level of previous and future economic conditions, further reduce from -1 points to -7 points is predicted

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

In Australia, Home Loans, new loans that were approved for owner-occupied households is about to reduce from 4.4% to 0.7%.

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

In New Zealand, Real Estate Institute of New Zealand (REINZ), House Price Index (HPI), the selling price of entirely households is about to remain 1.3% like on the last month.

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

In Japan, Tertiary Industry Activity, the total value of services that businesses purchase is about to rise from 0.9% to 1.1%.

More in Japan, Household Confidence is due to reaches 37.6 points.

Later in Japan, Prelim Machine Tool Orders is about to remain 53.5% like on July.

Finally in Japan, Corporate Goods Price Index (CGPI) is about to rise to 2.6%.

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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