Forex Daily Outlook May 17 2012
Daily Look

Forex Daily Outlook May 17 2012

Philly Fed Manufacturing Index is the major market-mover. Let see what awaits us today.

In the US, Unemployment Claims, Value the individuals that filed for the first time for unemployment insurance on the last week, rise is predicted from 367K up to 370K this week.

Later in the US, Philly Fed Manufacturing Index Survey of about 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level of general business conditions; indicates improving conditions with a rise of 2.1 points from April up to 10.6 points.

More in the US, CB Leading Index, that is based on 10 financial indicators, is about to reduce from 0.3% on April down to 0.1%.

Finally in the US, Natural Gas Storage, measure the underground storage over the last week due to remain 30B.

Finally in the US, Timothy Geithner, US Treasury Secretary, is due to speak in Washington DC.

In Canada, Foreign Securities Purchases, value the foreigner’s money assets like domestic stocks, bonds, and so on, is due to reduce from 12.50B on April down to 9.34B now.

More in Canada, Wholesale Sales is likely to reduce from 1.6% on the last month down to 0.4%.

Finally in Canada, Bank of Canada (BOC) Review quarterly report that shows the articles that are related to the economy and central banking.

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

In Great Britain, Martin Weale, External Bank of England (BOE) Monetary Policy Committee (MPC) Member, is due to speak in in York

In Australia, Melbourne Institute (MI) Inflation Expectations, measures by percentage the consumer’s expected price for goods and services on the next 12 months, 3.3% is forecasted like on the last report.

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

In Japan, Revised Industrial Productionm is likely to rise up by 0.1% up to 1.1% this time.

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

That’s it for today.

Happy forex trading!

Anat Dror

Anat Dror

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