Forex Daily Outlook – June 18 2010

Mark Carney, Governor of the Bank of Canada speaks at the Newfoundland & Labrador Oil & Gas Industries Association, in St. John’s, Canada’s Foreign Securities Purchases are expected to grow and Canadian Leading Index is released. These events close this week’s activities. Let’s see what’s on our menu today.

In Canada, On Friday, 18 June 2010, Mark Carney, Governor of the Bank of Canada, will speak to the Newfoundland & Labrador Oil & Gas Industries Association in St. John’s. The topic of his lecture is “Fortune Favours the Bold: Short- and Medium-Term challenges for the Canadian Economy”.

More in Canada, Foreign Securities Purchases are expected to grow by 5.47B following the unpredicted plunge in May which is a good sign for the Canadian market.

Finally in Canada, Leading Index is expected a slight drop of 0.1% from 0.9% in the previous month however it still looks promising.

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

In Europe, German Producer Price Index is expected to decrease by 0.6% reaching 0.2% signaling decline in prices.

For more on the Euro, read the  EUR/USD forecast and Casey Stubbs’  latest analysis.

In Great Britain, Prelim Mortgage Approvals is likely to drop by 1000 following 50K rise in May.

More in Great Britain, Public Sector Net Borrowing measuring difference in value between spending and income for public corporations, the central government, and local governments during the previous month is expected to increase deficit by 8.3B since May reaching 18.3B, a growth in the Net Borrowing is considered bearish for the GBP.

Later in Great Britain, Prelim M4 Money Supply is foreseen a growth of 0.2% following 0.0% in May.

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

That’s it for today. Happy forex trading!

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.