Forex Daily Outlook June 29 2012

We end this week with EU Economic Summit in Europe as the major event of the day. Here is an outlook on the market-movers awaiting us.

In the US, Chicago Purchasing Managers’ Index (PMI); Survey to rate the relative level of business conditions of the managers in Chicago, rise is estimated up to 53.1 points now from 52.7 on May.

Later in the US, Core PCE Price Index, show the consumers price change for goods and services (without food and energy), rise is likely by 0.1% up to 0.2% this time.

More in the US, Personal Spending, value all the expenditures by consumers, is about to drop down from 0.3% on the last week to 0.1% this time.

Finally in the US, Revised University of Michigan (UoM) Consumer Sentiment, Consumer’s Monthly Survey to value the existing and upcoming financial conditions, rise of 0.2 point is expected up to 74.3 points now.

In Canada, Gross Domestic Product (GDP), the largest measure of economic activity and the key indicator of the economy’s health to value all goods and services produced by the economy, rise up to 0.2% is likely from 0.1%on the last month.

Later in Canada, Raw Materials Price Index (RMPI); value the manufacturer’s price change of raw materials; rise is predicted from-2.0% on May up to 2.3% now.

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

In Europe, European Union (EU) Economic Summit is due.

Later in Europe, Consumer Price Index (CPI), Flash Estimate, value the consumer’s price change for goods and services, 2.4% is about to remain similar to the last report.

More in Europe, M3 Money Supply, measures the total quantity of domestic currency in circulation and deposited in banks on the last month, 2.4% is expected, 0.1% less than on May.

Also in Europe, French Consumer Spending, value all consumers’ goods expenditures, about to drop down by 0.6% from May.

Finally in Europe, German Retail Sales, value the total sales at the retail level (without autos and gas stations), due to reduce from 0.6% on May down to 0.1% this time.

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

In Great Britain, Mervyn King, Bank of England (BOE) Governor; is about to speak in London.

Later inGreat Britain, Bank of England (BOE), Financial Stability Report, the report includes analysis regarding the stability of the current financial system.

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

In Switzerland, KOF Leading Indicators, Konjunkturbarometer Economic Barometer, a composite index that is based on 12 financial indicators, due to rise up by 0.1 points is likely up to 0.88 points.

In Australia, Private Sector Credit, value all the new credit that were issued to consumers and businesses, rise is forecasted from 0.4% on the last month up to 0.5% now.

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

Trade well