Forex Daily Outlook March 8 2012

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Unemployment Claims in the US and MPC Rate Statement in the UK are the major market-movers. Let see what awaits us today.

In the US, Unemployment Claims. Estimate the individuals that filed for the first time for unemployment insurance over the previous month, rise of 1K is expected up to 352K.

In Canada, Bank of Canada (BOC) Rate Statement, the key tool of BOC communicates with investors regarding financial policy, decision on interest rates, financial conditions and future decisions. While the Overnight Rate is expected to remain 1% with no change from the last months.

More in Canada, Housing Starts, measures the new residential constructions that began building on the last month, rise of 1K is forecasted up to 199K.

Finally in Canada, New Housing Price Index (NHPI); housing industry’s key indicator to rate the selling price change of new homes, due to rise up by 0/1% from February to 0.2%.

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

In Europe, European Central Bank (ECB) Press Conference, the primary ECB tool to communicate with investors regarding monetary policy, interest rate and other policy decisions.

More in Europe, Minimum Bid Rate, main refinancing operations for Interest rate that provide the bulk of liquidity to the banking system, due to remain 1% like on the last months.

Finally in Europe, German Industrial Production, estimates the value of manufacturers output produced, growth of 4% is likely up to 1.1% now.

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

In Great Britain, Monetary Policy Committee (MPC) Rate Statement, MPC main tool to communicate with investors regarding financial policy, interest rates, economic conditions and outcome of future votes. And on the Official Bank Rate no change is predicted from 0.5% like on the last months.

More in Great Britain, Asset Purchase Facility, Total value of money the Bank of England (BOE) will generate and use to purchase open market assets, 325B is predicted like on the last monthly report.

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

In Switzerland, Consumer Price Index (CPI), consumers’ goods and services price change, due to rise up from -0.4% on the last month up to 0.2% now.

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

In Australia, Employment Change, number of employed people on the past month, due to rise up from 46.3K on February to 5.2K this time.

More in Australia, Unemployment Rate, total work force unemployed (by percentage) that are looking for employment, growth of 0.1% is expected up to 5.2%.

For more on the Aussie, read the AUD/USD 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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