Forex Daily Outlook March 7 2012

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ADP Non-Farm Employment Change in the US and Building Permits in Canada 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, consumer spending important to estimate the employed people on the last month (not including the government and farming industry), due to rise up from  170K on February to 201K.

More in the US, Revised Nonfarm Productivity, value the labor efficiency change when creating goods and services (without the farming industry), rise of 0.1% from the last quarter is predicted.

Finally in the US, Crude Oil Inventories, measures the number of commercial firm’s crude oil barrels that are held in inventory over the past week, 4.2K is forecasted similar to the last week.

In Canada, Building Permits future construction activity excellent indicator to estimates the new building permits issued, further reduce is predicted from 11.1% on February down to -2.3%.

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

In Europe, German Factory Orders, monthly production indicator to value the new manufacturers purchase orders, is about to increase from 1.7% up to 0.6% this time.

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

In Switzerland, Foreign Currency Reserves, the Swiss National Bank (SNB) Total value of foreign currency reserves, 227.2B is likely with no change from the last month report.

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

In Australia, Gross Domestic Product (GDP), value quarterly of all goods and services that were produced by the economy, decrease is predicted from 1.0% down to 0.7% this time.

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

In New Zealand, Reserve Bank of New Zealand (RBNZ) main tool to communicate with investors about financial policy, the economic conditions and future decisions presided by RBNZ Press Conference. And the Official Cash Rate due to remain 2.5% similar to the last months.

More in New Zealand, Official Cash Rate, provides treasured insight of the bank’s economic conditions view and influence their interest rate decisions.

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

In Japan, Final Gross Domestic Product (GDP), the economy’s all goods and services production, due to rise up by 0.4$ from the last quarter to -0.2%.

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

That’s it for today.

Happy forex trading!

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About Author

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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