Forex Daily Outlook – December 20 2010

We start the week with Treasury Currency Report in the US and Wholesale Sales in Canada .Let’s see what awaits us today.

In the US, Treasury Currency Report on International Economic and Exchange Rate Policies provides a detailed review of global exchange rate policies, economic conditions, and central bank and government actions around the world. Most importantly, the report outlines counties that the Treasury deems currency manipulators.

In Canada, Wholesale Sales is about to rise by 0.4%. leading indicator of consumer spending – retailers generally order more goods from wholesalers when they expect consumer sales to increase.

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

In Europe, Current Account, value between imported and exported goods, services, income flows, and unilateral transfers during the previous month; is about to rise by 6.9B. directly linked to currency demand.

Also in  Europe, German Producer Price Index (PPI), goods sold by manufacturers is due to be 0.4%, similar to the previous month. When manufacturers charge more for goods the higher costs are usually passed on to the consumer.

Finally in Europe, Consumer Confidence, Survey of about 2,300 consumers in Eurozone countries which asks respondents to rate the relative level of past and future economic conditions, including personal financial situation, employment, inflation, and climate for major purchases, below indicates pessimism with -9 points.

For more on the Euro, read the  EUR/USD forecast.

In Great Britain, Prelim Mortgage Approvals, new mortgages approved for home purchases during the previous month is about to remain 47K.

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

In New Zealand, Visitor Arrivals, number of short-term overseas visitors who arrived in the country is about to be -2%. Tourism plays an important role in the economy – about 10% of the population is employed by the tourism industry, and a sizable portion of the nation’s GDP is indirectly related to tourism.

In Japan,

That’s it for today. Happy forex trading!