Forex Daily Outlook March 6 2013

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ADP Non-Farm Employment Change in the US and GDP in Australia are the main events today.  Here is an outlook on the market-movers awaiting us

In the US, Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change, Estimation number of employed people on the past month (not including the farming industry and government), 168K is predicted now from 192K on the last month.

Later in the US, Factory Orders, measures the new manufacturers purchase orders, -2.1% is likely now from 1.8% on February.

More in the US, Beige Book is due now

Finally in the US, Crude Oil Inventories, calculate the commercial firms of crude oil barrels held in inventory over the previous week, 1.1M is estimated similar to the last time.

In Canada, Bank of Canada (BOC) Rate Statement, BOC primary tool the uses communicate with investors on financial policy and discusses the economic outcome of future decisions. While on the Overnight Rate no change is due and 1.00% is likely to remain.

Also in Canada, Ivey Purchasing Managers’ Index (PMI), Survey to rate the business conditions like production, , prices and inventories, 56.2 points is due now from 58.9 on the last time.

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

In Great Britain, Mervyn King, Bank of England (BOE) Governor is due to testify in London Later in Great Britain.

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

In Australia, Gross Domestic Product (GDP); value of all goods and services produced by the economy,  rise up to 0.6% from 0.5% on the last quarterly report.

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

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Anat Dror – Senior Writer

I conceptualize, design and create multi-lingual websites. Apart from the technical work, my projects usually consist of writing content for these sites in English, French and Hebrew.

In the past, I have built, managed and marketed an e-learning center for language studies, including moderating a live community of students.

I’ve also worked as a community organizer

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