Forex Daily Outlook February 13 2013


US Jack Lew’s speech and US retail sales are the main events today.  Here is an outlook on the market-movers awaiting us:

In the US, Jack Lew, Chief of Staff is due to testify in Washington DC.

Later in the US,  Retail Sales show the total change sales at the retail level, reduce down to 0.1% is likely now from 0.5% on January, and similar reduce is predicted on the Core Retail Sales (not including autos) 0.1% now from 0.3% on the past report.

Later on in the US, Import Prices, value the price change of imported goods and services that are purchased domestically, 0.8% is likely from -0.1% on January.

More in the US, Business Inventories business spending indicator to value the total change of goods that are held in inventory by manufacturers, wholesalers and retailers, 0.3% is due now with no change from the last time.

Further in the US, Mortgage Delinquencies household health indicator measures the number of mortgages with at least one late payment reported during the previous quarter, the reading in August reached 7.4%, lower than the 7.58% registered in the previous quarter.

Also in the US, Crude Oil Inventories increased less than predicted in the previous week reaching 2.6 million, following 5.9 million in the previous week, less than the 2.7 million predicted.  Another decline to 2.4 million is expected this time.

Finally in the US,   James Bullard president of the Federal Reserve Bank of St. Louis is due to speak in Jonesboro, Audience questions are expected.

Finally in the US, 10-y Bond Auction the Highest yield bond sale ended in disappointment, Coverage of 2.83 with the high yield of 1.863% indicating soft bidding.

In Europe, Industrial Production  in the Eurozone declined 0.3%in November following 1.0% plunge in the previous month. Analysts expected a 0.2% rise. This time a 0.3% increase is forecasted.

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

In Great Britain, BOE Governor Mervyn King is expected to speak in London. His words may cause volatility in the market.

Later in Great Britain,  BOE Inflation Report is released, reveals information regarding the BOE’s estimate for inflation and economic growth over the next 2 years.

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

In Switzerland, Producer price index gained a mere 0.1% in December following a flat reading in November. The reading came below the 0.2% rise expected. Another 0.2% rise is expected.

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

In Japan, Prelim GDP, Preliminary estimate of GDP growth dropped to -0.9% in the third quarter, following 0.2% expansion in the previous quarter. This reading was worse than the 0.8% contraction predicted. The fourth quarter is expected to expand by 0.1%.

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

  • Overall U.S. import prices rose by a m/m 0.6% in January, which compared to a median forecast of +0.8%. Earlier results were a 0.5% decline in December, a 0.7% decline in November, and a 0.3% rise in October.