Forex Daily Outlook June 12 2012
Daily Look

Forex Daily Outlook June 12 2012

US Federal Budget Balance is the major event today.   Here is an outlook on the market-movers awaiting us.

In the US, Import Prices decreased more than predicted in April declining 0.5% following a 1.5% gain in the previous month. Economists predicted a 0.1% drop.

Later in the US, Federal Budget Balance surprised in April with a flip to surplus of $59.1 billion amid higher tax revenues following $198.2 billion deficit in March. Budget Balance is expected to return to a deficit of $112.7 billion.

More in the US, IBD/TIPP Economic Optimism a consumer sentiment survey released monthly dropped to48.5 in May after reaching49.3 in April. A rise to 49 is anticipated now indicating more optimism among US consumers.

In Europe, French Final Non-Farm Payrolls measuring the changes in the number of people employed excluding the farming industry, dropped 0.1% in the last quarter of2011 in line with predictions. An increase of 0.1% is predicted this time.

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

In Great Britain, Manufacturing Production. The value of manufacturing output in the UK jumped by 0.9% in March following a 1.1% decline in February. This rise was more than the 0.5% increase anticipated by analysts. Output value is expected to remain unchanged this time.

More in the UK, NIESR GDP Estimate. The National Institute of Economic and Social Research GDP estimate is a monthly GDP forecast built to predict the quarterly GDP. The Growth rate for April was estimated at 0.1%.

Further in the UK, Industrial Production dropped 0.3% in March following0.4% growth in February. This decline was more than the 0.2% drop predicted. This time a 0.2% increase is forecasted.

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

In Switzerland, SECO Economic Forecasts is an early indicator of GDP growth its report incorporates major economic indicators including inflation and employment data.

Read more about the Swiss franc in the USD/CHF forecast.

In Australia, Glenn Stevens Head of the Reserve Bank of Australia is scheduled to speak in Brisbane at the Prime Minister’s Economic Forum. His wards can cause volatility in the market.

More in Australia, NAB Business Confidence. Business sentiment increased in April to 4 from3 in March indicating growing optimism among companies concerning business conditions and future prospects.

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

In Japan, Masaaki Shirakawa the Governor of the Bank of Japan is due to speak at the San Francisco Federal Reserve Conference, via satellite. This event could cause volatility in the market.

More in Japan, Core Machinery Orders. The value of standing private sector orders for the purchase of machines declined by 2.8% in March better than the 3.4% plunge predicted by analysts and following 2.8% gain in February. An increase of 1.9% is predicted now.

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

Trade well

Anat Dror

Anat Dror

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