Forex Daily Outlook July 24 2012


In the US Ben Bernanke speaks and Retail Sales in Canada are the main events lined up.  Let’s see what awaits us today.

In the US, Ben Bernanke, Federal Reserve Chairman, is about to speak in Cincinnati.

Later in the US, Flash Manufacturing Purchasing Managers’ Index (PMI); Monthly Survey to rate the  business conditions such as employment, new orders, supplier and inventories, due to reduce by 0.1 points from June to 52.4 points this time.

Also in the US, House Price Index (HPI), no change is likely from June, and 0.6% is due to remain.

Finally in the US, Richmond Manufacturing Index, Level of a composite index that is based on manufacturer’s monthly survey in Richmond, and is due rise up by 3 points from June.

In Canada, Retail Sales, value all the monthly sales at the retail level, rise from -0.5% on June up to 0.3% is likely, and similar is estimated in the Core Retail Sales (without autos) from -0.3% on June up to 0.2% now.

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

In Europe, French Flash Manufacturing Purchasing Managers’ Index (PMI); Survey to rate the monthly business conditions like employment, new orders, supplier and inventories, is due to rise by 0.2 points up to45.3 points, in France is due to rise from 45.2 points on June up to 45.6 points now and in Germany rise of 0.3 points is predicted up to 45.3 points.

Later in Europe, Flash Services Purchasing Managers’ Index (PMI); Survey to rate the business conditions such as  production, prices, and inventories; is about to rise in 0.2 points up to 47.3 points,  in France reduce is likely down from 47.9 points on June to 47.7 points and in Germany rise from 49.9 points up to 50.1 points is forecasted.

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

In Great Britain, Prelim Gross Domestic Product (GDP); quarterly report to value all economy’s production of goods and services -0.2% is likely now from -0.3% on the last time.

Later in Great Britain, Confederation of British Industry (CBI) Industrial Order Expectations, Manufacturer’s Survey to rate the order volume that is expected for the next 3 months, rise of 1 point is likely to -10 points this time.

More in Great Britain, British Bankers’ Association (BBA) Mortgage Approvals, measures the new mortgages that were approved for home purchase by BBA banks on the last month, rise is likely from 30.2K on June up to 31.4K now.

Finally in Great Britain, Index of Services, 0.3% is likely now.

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

In Australia, Glenn Stevens, Reserve Bank of Australia (RBA), Governor is due to speak in Sydney

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

In New Zealand, Trade Balance, value the difference between imported and exported goods, due to reduce from 301M on the last month down to 20M.

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

In Japan, Trade Balance, show the difference in value between imported and exported goods, rise is likely from -0.66T on June up to -0.39T 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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