Forex Daily Outlook – February 11 2011

We end this week with some exciting news such as Trade Balance in the US & PPI Input in the UK .Let’s see what awaits us today.

In the US, Trade Balance, value between imported and exported goods and services during the reported month is about to reduce by 2.1B. Export demand and currency demand are directly linked.

Later in the US, Prelim University of Michigan (UoM) Consumer Sentiment, Survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions is about to rise by 0.2 Points, while the Prelim UoM Inflation Expectations is due to remain 3.4%.

Finally in the US, Federal Reserve Governor Sarah Bloom Raskin, due to deliver a speech titled “Mortgage Servicing Issues” at the 2011 Midwinter Housing Finance Conference, in Park City.

In Canada, Trade Balance, Difference in value between imported and exported goods during the reported month is due to reduce by 0.3%. Export demand and currency demand are directly linked

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

In Europe, European Central Bank (ECB) President Jean-Claude Trichet, due to speak at the 467th Schaffermahlzeit, in Bremen. As head of the ECB he has influence over the euro’s value.

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

In Great Britain, Producer Price Index (PPI) Input, goods and raw materials purchased by manufacturers; is about to reduce by 3.1% and the PPI Output (goods sold by manufacturers) is about to reduce by 0.1%. It’s a leading indicator of consumer inflation.

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

That’s it for today. Happy forex trading!