Forex Daily Outlook – June 23 2011

Unemployment Claims in the USA and CBI Realized Sales in Great Britain are the major market-movers. Let see what awaits us today.

In the US, Unemployment Claims, weekly measurements of new unemployment claims filed by Americans over the passing week stabilized last week and forecasted to remain 414K this week.

Later in the US, New Home Sales measuring contract activities in sold homes, affecting mortgage and including prices rates. A major indicator of economic conditions, on May raised to 323K and about to droop to 311K this time.

Finally in the US, Natural Gas Storage, measuring the amount of cubic feet of natural gas inventory stored underground over the passing week, 69 billion is expected now.

In Canada, John Murray Bank of Canada Deputy Governor is about to deliver a several speeches.

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

In Europe, Flash Manufacturing Purchasing Managers Index (PMI), monthly survey to measure manufacturing purchasing manager’s business conditions, further decrease from 54.6 points on May to 53.9 points. In France 54.2 points and in Germany 57.2 points is predicted this month.

 Flash Services Purchasing Managers Index (PMI), survey to measure purchasing manager’s services, further decrease from 56 points on May to 55.5 points this month. In France 61.2 points and in Germany 55.8 points is expected now.

 More in Europe, Belgium National Bank of Belgium Business Climate, wide monthly survey of builders, services and job related businesses, further decrease from -0.5 points on May to -1.1% this month

Finally in  Europe, Jean-Claude Trichet President of the European Central Bank, is about to deliver a speech in Jerusalem.

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

More in Great Britain, Adam Posen, Bank of England, and Monetary Policy Committee member is about to speech in Berlin

Later in Great Britain, Confederation of British Industry (CBI) Realized Sales, monthly survey to show the relative level of up-to-date sales volume, shows a further reduce from 18 points in May to 12 points now.

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

In Switzerland, Trade Balance, measuring the price of export and. Import to determine trade surplus or deficit, a further rise from rise is expected from 1.44 billion on May to 1.79 billion this time.

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

In Australia, The Conference Board (CB) Leading Index, measuring the economic activity based on 7 economic meters, is due to remain 0.4%.

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

In Japan, Corporate Services Price Index (CSPI), measuring the value of services acquired by businesses, a small rise of 0.1% is expected to -0.7% this month.

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

Trade well