Forex Daily Outlook May 30 2012
Daily Look

Forex Daily Outlook May 30 2012

Pending Home Sales in the US M3 Money Supply in Europe are the main events today.   Here is an outlook on the market-movers awaiting us.

In the US, Pending Home Sales, the number of under contract homes that are to be sold but still awaiting the closing deal (without new building) is due to drop down by 4.1% this time.

Later in the US, William Dudley, Federal Reserve Bank of New York President, is about to speak in New York.

In Canada, Raw Materials Price Index (RMPI), important indicator of consumer inflation to value the price change of manufacturer’s raw materials, rise is estimated from -1.6% on the past month up to 2.1% now.

Later in Canada, Industrial Product Price Index (IPPI); shows the price change of manufacturer’s sold goods, reduce of 0.1% is likely from April down to 0.1% now.

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

In Europe, M3 Money Supply shows the quantity change of the total domestic currency in the circulation or deposited of the banks, rise is likely from 3.2% on the last month up to 3.5% now.

Also in Europe, Mario Draghi, European Central Bank (ECB) President, is likely to speak in in Brussels.

Later in Europe, Private Loans, the new loans that were issued to consumers and businesses, rise of 0.1% from April up to 0.7% is expected now.

Finally in Europe, Retail Raw Purchasing Managers’ Index (PMI); due to remain 41.3 points like on the last month survey.

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

In Great Britain, Net Lending to Individuals, the total value change of consumer’s new credit issued about to drop down by 0.2B from April to 1.2B.

Later in Great Britain, M4 Money Supply shows the quantity change of the total domestic currency in the circulation or deposited of the banks, rise is forecasted from -0.8% on the last month up to 0.3% now.

Finally in Great Britain, GfK Consumer Confidence, Monthly Survey to rate the financial conditions such as climate for major purchase, overall economic situation and so on, is likely to reduce by 1 points from the last time to -32 points.

More in Great Britain, Mortgage Approvals no change is predicted from the last month and 50K is likely to remain.

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

In Switzerland, KOF Economic Barometer, composite index that is based on 12 financial indicators, due to rise up by 0.6 points from April up to 0.46 points.

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

In Australia, Retail Sales, consumer spending primary indicator to value the total retail sales on the last month, reduce is predicted from 0.9% on April down to 0.2%.

Later in Australia, Construction Work Done, construction industry important gauge to measure the construction projects completed, rise is likely from -4.6% on the last quarter up to 3.1%.

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

In Japan, Masaaki Shirakawa, Bank of Japan (BOJ) Governor is about to speak in Tokyo.

Later in Japan, Prelim Industrial Production, value the manufacturers, mines, and utilities output produced on the last month, reduce of 0.7% is estimated down to 0.6%.

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

Trade well

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