Forex Daily Outlook December 23 2011
Daily Look

Forex Daily Outlook December 23 2011

We summarize this week New Home Sales in the US and GDP in Canada are the major events this day. Here is an outlook on the market-movers awaiting us.

In the US, New Home Sales, Monthly report to value the new sole-family households sold, due to increase from 307K on November up to 314K now.

More in the US, Durable Goods Orders, monthly important indicator of production that measures the new manufacturer’s purchase orders, expected to rise from 0.5% up to 2.2%. while on the Core Durable Goods Orders (without transport items) reduce is due from 1.1% on November down to 0.5% this time.

Later in the US, Personal Spending, measures all consumers’ costs and due to rise up by 0.2% to 0.3% this month. Meanwhile the Personal Income is redacted to reduce by 0.1% down to 0.3%.

Finally in the US, Core Personal Consumption Expenditures (PCE) Price Index, value the consumer’s prices for goods and services (apart from food and energy) that are consumed & targeted by individuals, due to remain 0.1% similar to the previous month.

In Canada, Gross Domestic Product (GDP); the largest measure of monetary activity and key indicator of economy’s health that value all goods and services produced by the economy, due to drop down from  0.2% on November down to 0.1%.

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

In Great Britain, British Bankers’ Association (BBA) Mortgage Approvals, chief indicator of housing market that measures the new BBA mortgages approved, rise is predicted from 35.3K on November up to 36.3K this month.

More in Great Britain, Index of Services, is about to drop down from 0.6% on November down to 0.3% now.

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

In Switzerland, Swiss National Bank (SNB) Quarterly Bulletin quarterly report that is due to take place this month.

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

That’s it for today.

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

Anat Dror

Anat Dror

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