Forex Daily Outlook February 27 2013


In the US Fed Chairman Bernanke Testifies and Second Estimate GDP in the UK are the main events today.  Here is an outlook on the market-movers awaiting us

In the US, Ben Bernanke, Federal Reserve Chairman, is due to testify in Washington DC.

Later in the US, Durable Goods Orders value the new manufacturers purchase orders of durable goods, -4.8% is expected now from 4.3% on the last time. While on the Core Durable Goods Orders (excluding transportation items) 0.3% is forecasted now from 1.0% on January.

More in the US, Pending Home Sales, the homes under contract  that are to be sold but still awaiting the closing transaction (not including new building) rise up to 1.7% is likely now from -4.3% on the past month.

Finally in the US, Crude Oil Inventories shows the commercial crude oil barrels that are held in inventory over the past week, 2.4M is calculated now from 4.1M on the last time.

In Europe, European Central Bank (ECB), President Mario Draghi is about to speak in Bayern.

Later in Europe, M3 Money Supply, value all the quantity change of domestic currency that is circulated and deposed in banks, reduce of 1% is calculated now down to 3.2% from the last time.

Finally in Europe, GfK German Consumer Climate, Survey to value the previous and coming financial conditions and overall economic situation, rise of 1 point up to 5.9 points is due now.

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

In Great Britain, Second Estimate Gross Domestic Product (GDP), value all goods and services that were produced by the economy, -0.3% is likely to remain similar to the last quarter.

Later in Great Britain, Charles Bean, Bank of England (BOE) Deputy Governor is due to speak in London.

Finally in Great Britain, Prelim Business Investment, measures the total value of capital investments that was made by businesses and the government over the past quarter, 2.2% is due now from 3.8% on the last report.

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

In Switzerland, KOF Economic Barometer, a composite index that is based on 12 financial indicators, 1.00 is calculated now from 1.05 on January.

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

In Australia, Construction Work Done, measures the completed construction projects, 1.5% is expected now from 1.7% on the last quarter.

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

In Japan, Prelim Industrial Production, value of manufacturers, mines, and utilities output production, 1.6% is expected from 2.5% on the previous time.

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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