Forex Daily Outlook – July 12 2010

We start the week with Britain Final GDP, Business Outlook Survey in the Bank of Canada, Chairman Ben Bernanke speech in Washington DC and more interesting news, let’s see what awaits us today.

In the US, Federal Reserve Chairman Ben Bernanke; delivers a speech titled “Restoring the Flow of Credit to Small Business” at the Financing Needs of Small Business Forum, in Washington DC, and have an influence on the nation’s currency value.

Later in the US, Federal Open Market Committee (FOMC); Governor Elizabeth Duke delivers a speech titled “Small Business Credit: Next Steps” at the Financing Needs of Small Business Forum, in Washington DC; and affect the nation’s key interest rates and future monetary policy.

Moving on to Canada, Bank of Canada (BOC) Business Outlook Survey of about 100 businesses examining the relative level of general business conditions, such as sales growth, investment in machinery, employment, inflation expectations, and credit conditions; a highly respected Survey related to the nation’s GDP. It’s a leading signal of future economic activity.

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

In Great Britain, Final Gross Domestic Product (GDP) stabilize on 0.3%, it’s the broadest measure of economic activity and the primary gauge of the economy’s health, that is released quarterly and measures the change in the inflation-adjusted value of all goods and services produced by the economy.

More in Great Britain, Current Account shows a decrease of 2.6 Billion It’s directly linked to currency demand and to execute transactions in the country.

Later in Great Britain, British Retail Consortium (BRC) Retail Sales Monitor leads the government-released retail data and has a narrower focus that includes retailers who belong to the BRC, shows a rise from -2.3% to 0.8% and measures change in the value of same-store sales at the retail level.

Finally in Britain, Royal Institution of Chartered Surveyors (RICS) House Price Balance droops down by 2%, It’s a leading indicator that measures the level of a diffusion index based on surveyed property surveyors.

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

In Australia, Home Loans rise up by 2.8%, it’s a leading indicator of demand in the housing market that measures the change in the number of new loans granted for owner-occupied homes;

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

In New Zealand, Food Price Index (FPI) shows a decrease of 0.2%, Although food is among the most volatile consumer price components, this indicator garners some attention because New Zealand’s major inflation data is released on a quarterly basis.

In Japan, the Corporate Goods Price Index (CGPI) rises up by 0.2% it’s a leading indicator of consumer inflation that Measures the Change in the price of goods sold by corporations;

That’s it for today. Happy forex trading!

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