Forex Daily Outlook – June 29 2010

Some exciting news in the US with S&P/CS Composite-20 HPI, in Britain the Net Lending to Individuals and more interesting events, let’s see what await us today.

In the US, a slit rise in the Conference Board (CB) Consumer Confidence, a survey of about 5,000 households which asks respondents to rate the relative level of current and future economic conditions including labor availability, and measures the Level of a composite index based on surveyed households;

Later in the US, Standard & Poor’s (S&P) / Case-Shiller (CS) Composite-20 House Price Index (HPI); is about to rise by 1.2%,, released monthly and measures the change in the selling price of single-family homes in 20 metropolitan areas; and It’s a leading indicator of the housing industry’s health because rising house prices attract investors and spur industry activity;

In Canada, a small change of about 0.1% on the Raw Materials Price Index (RMPI);, that measures the change in the price of raw materials purchased by manufacturers and as a leading indicator affects the consumer inflation.

More in Canada, Industrial Product Price Index (IPPI); the monthly report that measures the change in the price of goods sold by manufacturers; is about to rise by 1%.

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

Moving on to Great Britain, GfK Consumer Confidence, a monthly survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions including personal financial situation, and measuring the Level of a diffusion index based on surveyed consumers, indicates pessimism by drooping to -20 from -18. and   a , climate for major purchases, and overall economic situation; indicates pessimism

Later in Great Britain, Net Lending to Individuals monthly reported, that measures the change in the total value of new credit issued to consumers is about to rise from 0.48 to 0.98 and affects the consumer spending and confidence.

Finally in Britain, Final Mortgage Approvals is about to rise by 1K

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

In Switzerland, UBS Consumption Indicator, released monthly and measures the level of a composite index based on 5 consumer-based economic indicators;

In Japan, Manufacturing Purchasing Managers’ Index (PMI); a monthly survey of about 300 purchasing managers which asks respondents to rate the relative level of business conditions, and measurers the level of a diffusion index based on surveyed purchasing managers in the manufacturing industry; indicates industry expansion 54.7

That’s it for today. Happy forex trading!

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