Forex Daily Outlook March 13 2012

FOMC Statement in the US and ZEW Economic Sentiment in Europe are the main events lined up.  Let’s see what awaits us today.

In the US, Retail Sales, key gauge for consumer spending to show the value change all retail sales over the past month; rise is predicted from 0.4% on February up to 1.1% this time. Similar on the Core Retail Sales (without cars) rise of 0.1% up to 0.8% now.

More in the US, Federal Open Market Committee (FOMC) Statement that is scheduled 8 times a year, to  communicate with investors regarding financial policy, interest rates, other policy measures and the monetary outlook. While the Federal Funds Rate remains 0.25% with no change from the last months.

Finally in the US, Business Inventories, value of manufacturers and retailers goods in inventory is about to rise up by 0.1% from the last month to 0.5%.

In Europe,  Zentrum fur Europaische Wirtschaftsforschung (ZEW) Economic Sentiment, institutional investors’ Survey to rate the monetary outlook for the Eurozone on the next 6-month, indicates optimism growth is estimated from -8.1 on February up to 3.8, Meanwhile on the German ZEW Economic Sentiment from 5.4 up to 11.2.

Later in Europe, The Economic and Financial Affairs Council (ECOFIN) Meetings, the Eurozone’s largest monetary decision making body that affect the Eurozone’s economic health.

Finally in Europe, Mario Draghi, European Central Bank (ECB) President is about to speak in Paris.

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

In Great Britain, Trade Balance, monthly measurement to value the difference between imported and exported goods, about to further reduce by 0.7% from the last month down to -7.8B this time.

More in Great Britain, Royal Institution of Chartered Surveyors (RICS) House Price Balance, housing inflation important indicator, is due to rise up by 0.2^% to -13% this time.

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

In Switzerland, Producer Price Index (PPI), monthly consumer inflation indicator to value the manufacturer’s goods and raw materials price change, about to rise up to 0.4% from February report.

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

In Australia, Home Loans, new loans that were granted to owner-occupied households over the last month, growth is predicted by 2.3% from February.

More in Australia, National Australia Bank (NAB) Business Confidence, monthly survey that expected to indicates improving conditions with 4 points, similar to the previous survey.

Finally in Australia, Westpac Consumer Sentiment, Monthly Survey to rate the previous and future financial conditions such as employment and so on, due to remain 4.2% like on the last February’s survey.

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

In New Zealand, Real Estate Institute of New Zealand (REINZ) House Price Index (HPI), that value the selling price of all homes is due to remain similar to the last month report with -1.4%.

For more about the kiwi, see the NZD/USD forecast.

In Japan, Monetary Policy Statement, Bank of Japan (BOJ) primary tool to communicate with investors regarding economic policy, decision on interest rates and outcome of forthcoming rate decisions. It is preceded by Bank of Japan (BOJ) Press Conference and no change in the Overnight Call Rate is expected, 0.10% is due to remain similar to the last months.

More in Japan, BSI Manufacturing Index, Monthly manufacturers Survey to rate the general business conditions, optimistic growth is predicted from -6.1on February up to 1.3 this time.

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

That’s it for today.

Happy forex trading!