Forex Daily Outlook – May 28 2010

US Core PCE is expected to remain 0.1%, US, Personal Income is about to grow by 0.2%, Revised UoM Consumer Sentiment is expected to rise and Canada’s Current Account deficit is expected to shrink this quarter. Let us see what awaits us today:

In the US, Core Personal Consumption Expenditures Price Index released monthly, representing the change in consumers spending excluding seasonally volatile products such as food and energy  is expected to remain 0.1%.

Later in the US, Personal Income is about to grow by 0.2% from 0.3% in April while Personal Spending  is expected to drop from 0.6% to 0.3% this month.

More in the US, Chicago Purchasing Managers’ Index is expected to decrease by 1.6 points compared to 63.8 points in April.

Finally in the US, Revised UoM Consumer Sentiment is expected to rise by 0.1 points compared to 73.3 points in the previous month which continues the overall improvement in the US economy and their Revised UoM Inflation Expectations is likely to stay around 3.1%.

In Canada, Current Account deficit is expected to shrink this quarter by C$ 0.8B which is the lowest quarter since May 2009.

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

In Europe, German Import Prices are expected to drop this month by 0.2% compared to 1.7% in April keeping low inflation rates.

For more on the Euro, read the  EUR/USD forecast and Casey Stubbs’  latest analysis.

In Switzerland, Swiss KOF Economic Barometer released monthly, is intending to continue its climb by 0.05 points reaching 2.04 points indicating economic growth.

More in Switzerland, An increase of 0.16B CHF in the balance of trade surplus this month, from April’s 2.01B,  giving boost to Swiss economy.

That’s it for today. Happy forex trading!

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