Forex Daily Outlook July 11 2012

Trade Balance in the US and Canada are the main events today.   Here is an outlook on the market-movers awaiting us

In the US, Trade Balance, value the difference in between imported and exported goods, is predicted to decrees from -50.1B on June to -48.6B this month.

Later in the US, Federal Open Market Committee (FOMC) Meeting Minutes, show the most recent record of the FOMC’s meeting to value the economic and financial conditions regarding the interest rates

More in the US, Crude Oil Inventories, weekly report to value the commercial crude oil that is held in inventory, -4.3M is likely similar to the last report.

Also in the US, 10-y Bond Auction, the bonds that were sold by the government on auction, and the bid-to-cover ratio of the auction, due to remain similar to June.

Finally in the US, Wholesale Inventories, is about to reduce from 0.6% on June down to 0.4% now.

In Canada, Trade Balance, value the difference in between imported and exported goods, is expected to further reduce from -0.4B on June down to -0.5B this time.

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

In Europe, German Final Consumer Price Index (CPI); value the consumer’s price change for goods and services, -0.1% is due to remain like on the last month.

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

In Australia, Westpac Consumer Sentiment, leading Survey of consumer spending that measures the historical and upcoming economic conditions like employment and climate for major purchases, 0.3% is about to remain similar to June.

Later In Australia, Home Loans, show the housing market demand ad value the new loans that were granted for owner-occupied homes, rise of 0.7% is predicted up to 0.9%.

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

In New Zealand, Business NZ Manufacturing Index is about to remain 55.7 points similar to June.

Later In New Zealand, Food Price Index (FPI); the households price change for food and food services, no change is likely from the last time and 0.3% is due to remain.

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

In Japan, Prelim Machine Tool Orders, value of new machine tool manufacturers’ orders, is due to remain -3.0% with no change from the last report on June.

Read more about the yen in the USD/JPY forecast.

Trade well