Forex Daily Outlook – March 14 2011

We start the week with BOE Governor Mervyn King due to Speaks in in Tokyo and much more exciting events. Let’s see what awaits us today.

In Canada, Capacity Utilization Rate, is about to rise by 1%. When producers are nearing full capacity they respond by raising prices, and the higher costs are usually passed on to the consumer.

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

In Europe, Deutsche Bundesbank President Axel Weber, due to testify on economic and budgetary coordination before the Open Parliamentary hearing, in Berlin.

Also in  Europe, Industrial Production, value of output produced by manufacturers, mines, and utilities; is about to rise by 0.1%. Correlated with consumer conditions such as employment levels and earnings.

For more on the Euro, read the  EUR/USD forecast.

In Great Britain, Bank of England (BOE) Governor Mervyn King, due to speak about financial stability at the Japanese Bankers Association, in Tokyo.

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

In Australia, Monetary Policy Meeting Minutes, It’s a detailed record of the RBA Reserve Bank Board’s most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.

More in Australia, Reserve Bank of Australia (RBA Assistant Governor (Financial Markets) Dr. Guy Debelle, due to speak at the Australian DCM Summit, in Sydney.

Finally in Australia, New Motor Vehicle Sales, number of new cars and trucks sold domestically. Sign of consumer confidence – rising demand for expensive durable goods shows that consumers are confident in their future financial position and feel comfortable spending money

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

In New Zealand, the selling price of all homes; is due to remain -2.6%. Rising house prices attract investors and spur industry activity.

That’s it for today. Happy forex trading!