Forex Daily Outlook – July 29 2011

Advance GDP in the US and Nationwide HPI in the UK are the major events this day. Here is an outlook on the market-movers awaiting us.

In the US, Advance Gross Domestic Product (GDP), quarterly index to measure the inflation-adjusted value of all services and goods manufactured by the economy; small reduce to 1.6% this time is expected from 1.9% on the previous time. Meanwhile the Advance GDP Price Index is expected to remain 2% similar to the previous report

Later in the US, Employment Cost Index, quarterly report to value the payment of industries and government for civilian labor; is about to reduce by 0.1% from 0.6% to 0.5%.

More in the US, Chicago Purchasing Managers’ Index (PMI), Monthly Survey to value the relative level of business conditions due to reduce to 60.2 points.

Finally in the US, Revised UoM Consumer Sentiment, Monthly Survey (around 500 consumers) to measure the present and future financial conditions, rise to 64.1 points is expected this time from 63.8 points on the last time. And on the Revised UoM Inflation Expectations 3.4% is expected this time.

In Canada, Gross Domestic Product (GDP), the main measure of financial activity is due to rise to 0.1%.

Finally in Canada, Raw Materials Price Index (RMPI), monthly report to value the price   of raw materials there were purchased by builders,   a significant rise is due from -5.2% on June to 1.4% this time.

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

In Europe, German Retail Sales, measurement to value the Retail Sales on the previous month, about to rise from -2.8% on June to 1.6% this time.

More in Europe, French Consumer Spending, main indicator to measure the amount of   goods that were purchased by customers on the passing month, a rise from -1.5% on June to 0.4% is forecasted.

Finally in Europe, Consumer Price Index (CPI) Flash Estimate, monthly measurement of services & goods that were purchased by consumers, 2.7% is expected with no change from the previous month.

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

In Great Britain, Nationwide House Price Index (HPI), monthly main indicator to value the selling price of households with mortgages, reduce of 1% from last month is expected.

More in Great Britain, Net Lending to Individuals, released monthly and measures the number of new issued credit, 1.3B is expected with no change from last month.

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

In Australia, Private Sector Credit, monthly report to value the new consumers and businesses issued credit, is about to rise from 0.3% on June to 0.4% this month.

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

In New Zealand, Building Consents, leading indicator to measure the new building approvals that were issued over the passing month, 2.2% is forecasted this month with no change from last time.

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

In New Japan, Household Spending, leasing indicator of Consumer spending forecasts this month a further reduce to -2.2%.

Later in Japan, Tokyo Core Consumer Price Index (CPI), the most important consumer inflation monthly release, due to rise to 0.2%.

Finally in Japan Prelim Industrial Production, value of produces manufactured by builders,

Happy forex trading