Forex Daily Outlook – January 14 2011

In the US, PPI Input and Retail Sales are only some of many highlights to end the week .Let’s see what await us today.

In the US, Consumer Price Index (CPI ) price of goods and services purchased by consumers; is about be 0.1%’ similar to previous month. While the Core CPI (excluding food and energy; ) is about to rise by 0.3%. account for a majority of overall inflation.

Later in the US, Retail Sales is about to remain 0.1% like on the previous month, while the Core Retail Sales (excluding automobiles) is about to reduce by 0.5%. primary gauge of consumer spending, which accounts for the majority of overall economic activity.

Later on 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 0.5 points. The Prelim UoM Inflation Expectations (which asks respondents where they expect prices to be 12 months in the future) is due to remain 3% like on the previous time.

Finally in the US, Business Inventories, goods held in inventory by manufacturers, wholesalers, and retailers; is about to remain 0.7%. t’s a signal of future business spending because companies are more likely to purchase goods once they have depleted inventories.

In Canada, number of new cars and trucks sold domestically; is about to rise by 1.2%. It’s a sign of consumer confidence

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

In Europe, Consumer Price Index (CPI) price of goods and services purchased by consumers; is about to remain 2/2% and also the Core CPI (excluding food, energy, alcohol, and tobacco) remain on 1.1%. Consumer prices account for a majority of overall inflation

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

In Great Britain, Producer Price Index (PPI) Input, price of goods and raw materials purchased by manufacturers; is about to rise by 0.7% and the PPI Output (goods sold by manufacturers;)   is about to rise by 0.1%.

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

In Japan, Corporate Goods Price Index (CGPI), price of goods sold by corporations; is about to rise by 0.1%.

More in Japan, Prelim Machine Tool Orders, total value of new orders placed with machine tool manufacturers; is about to remain 104.2%, similar to the previous month.

That’s it for today. Happy forex trading!