Forex Daily Outlook June 5 2012

ISM Non-Manufacturing PMI in the US Building Permits in Canada and are the main events lined up.  Let’s see what awaits us today.

In the US, The Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI); Survey to rate the business conditions such as production, prices, supplier deliveries and so on, rise is predicted from 53.5 points on May up to 53.7 points now.

In Canada, Building Permits, shown the monthly change of new building permits that were issued, reduce from 4.7% on May down to 2.3% is forecasted now.

Later in Canada, Bank of Canada (BOC) Rate Statement, Scheduled 8 times a year and show the decision on interest rates of the BOC. While the Overnight Rate is likely to remain 1.00% similar to the last report.

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

In Europe, Retail Sales, measures the change in the total sales at the retail level, due to drop down from 0.3% on May down to -0.1% now.

Later in Europe, German Factory Orders, the total value manufacturers new purchase orders, reduce is due from 2.2% on May down to -0.9% this month.

Finally in Europe, EUR, Final Services Purchasing Managers’ Index (PMI); no change is predicted from the last month survey and 46.5 points is about to remain.

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

In Great Britain, BRC Shop Price Index, the price change for goods that were purchased at British Retail Consortium (BRC) member retail stores, no change is due and 1.3% is likely to remain.

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

In Australia, Reserve Bank of Australia (RBA) Rate Statement, it is the primary tools that is used by the RBA to communicate with investors regarding the financial policy. And also discusses the financial outlook. Meanwhile on the Cash Rate, no change is predicted and 3.75% is likely to remain.

Later in Australia, AUD, Current Account, value the difference between imported and exported goods, services, income flows and so on over the last quarter, further reduce is likely from -8.4B on the last report down to -14.1B.

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

Trade well