Forex Daily Outlook February 6 2013


Crude Oil Inventories in the US and Ivey PMI in Canada are the main events today.  Here is an outlook on the market-movers awaiting us

In the US, Crude Oil Inventories, weekly indicator to value the barrels of commercial crude oil that is held in inventory, reduce from 5.9M on the past time down to 2.7M this week is likely.

In Canada, Ivey Purchasing Managers’ Index (PMI), Survey to value the business conditions like employment, new orders, supplier deliveries and inventories, 53.2 is due now from 52.8 on January.

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

In Europe, German Factory Orders, value all the new manufacturers’ purchase orders over the past month, rise up to 0.8% is calculated from -1.8% on January.

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

In Great Britain, Halifax House Price Index (HPI), measures the price change of homes that were financed by Halifax Bank of Scotland (HBOS), drop to -0.2% is likely from 1.3% on January.

Later in Great Britain, British Retail Consortium (BRC) Shop Price Index, the price change of goods purchased at BRC-member retail stores, 1.5% is expected now similar to the previous time.

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

In Australia, Retail Sales, value all the sales at the retail level; rise up to 0.3% is predicted now from -0.1% on the last report.

Later in Australia, Australian Industry Group (AIG) Construction Index is due to remain 38.8 points similar to the last monthly index.

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

In New Zealand, Employment Change quarterly report to value the number of employed people, 0.4% is due now from -0.4% on the last quarter.

Later in New Zealand, Unemployment Rate, value by percentage the unemployed that is actively seeking for job over the previous quarter, drop of 0.2% down to 7.1% is predicted now.

For more about the kiwi, see the NZD/USD forecast.

In Japan, Core Machinery Orders,  shows all the new manufacturers purchase orders for machines (not including ships and utilities), drop down to -0.7% from 3.9% on January is forecasted now.

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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