Forex Daily Outlook May 22 2012

Existing Home Sales in the US and Public Sector Net Borrowing in the UK are the main events lined up.  Let’s see what awaits us today.

In the US, Existing Home Sales, the housing buildings that were sold on the last month (apart from new construction), rise is predicted from 4.48M on April up to 4.64M now.

Later in the US, Dennis Lockhart, Federal Reserve Bank of Atlanta President is due to speak in Hong Kong.

Finally in the US, Richmond Manufacturing Index, reduce of 2 points is predicted from the last moth manufacturers survey to 12 points.

In Europe, Consumer Confidence expected with no change from April’s consumers Survey with -20 points

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

In Great Britain, Consumer Price Index (CPI), Value the consumer’s price change for goods and services, expected to reduce by 0.4% down to 3.1% now. On the Core CPI (not including the volatile energy, food, tobacco and alcohol) is about to drop down by 0.3% from April to 2.2%. And similar is expected on the Retail Price Index (RPI) down by 0.1% from April to 3.5%.

Later in Great Britain, Public Sector Net Borrowing, in value the difference between spending and income for public corporations, due to reduce from 15.9B on April down to -5.4B this time.

More in Great Britain, Bank of England (BOE) Inflation Letter shows insight for the future of monetary policy; the BOE Governor is required to inform the Chancellor of the Exchequer regarding the CPI rise above 1% from the mandated target rate of 2%.

Finally in Great Britain, House Price Index (HPI); the homes selling price is estimate to rise up from 0.3% on April to 0.5% now

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

In Australia, The Conference Board (CB) Leading Index, based on 7 financial indicators with no change from the last month.

Later in Australia, MI Leading Index, based on 9 monetary indicators and due to remain 0.2% similar to the last month.

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

In Japan, Monetary Policy Statement, the primary tools used by the Bank of Japan (BOJ0 communicate with investors regarding economic policy. shows the outcome of their decision on interest rates and the outcome of future rate decisions. On the Overnight Call Rate no change is predicted from the last report.

Later in Japan, Trade Balance, monthly indicator to measure the difference in between imported and exported, is about to rise from -0.62T on April to -0.60T now.

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

Trade well