Forex Daily Outlook – July 19 2011

Building Permits in the US and ZEW Economic Sentiment in Europe are the main events lined up.  Let’s see what awaits us today.

In the US, Building Permits, very important indicator to measure the new housing building permits supplied on the passing month, about to remain 0.61 million like on the previous month. Meanwhile Housing Starts, new housing constructions that began building last month is about to raise from 0.56 million on June to 0.58 million this time.

In Canada, Overnight Rate, monthly report to measure the main Interest rate of at which major financial organizations loans, no change is expected from the last months and 1% is forecasted.

More in Canada, Bank of Canada (BOC Rate Statement), the main tool to value investor’s monetary policy and predict the financial outlook of future decisions.

 Finally in Canada, Leading Index, monthly index to value composite index based on 10 financial indicators, a rise from 1% on June to ½% this time is forecasted.

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

In Europe, German Zentrum fur Europaische Wirtschaftsforschung (ZEW) Economic Sentiment, monthly survey 350 German official investors and forecasters to value the German financial outlook on the last 6 months, a further reduce is expected from -9 points to -11.4 points this. And on the ZEW Economic Sentiment reduce to -7.4 points is expected.

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

In Australia, Monetary Policy Meeting Minutes, Reserve Bank of Australia (RBA) full recent meeting record and affected the interest rates,

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

For more events later in the week, check out the Live Forex Calendar