Forex Daily Outlook May 9 2012

Crude Oil Inventories in the US and Current Account in Japan are the main events today.   Here is an outlook on the market-movers awaiting us

In the US, Sandra Pianalto, Federal Reserve Bank of Cleveland President, is due to speak in Lexington.

Later in the US, Crude Oil Inventories, value the number of crude oil barrels that are held in inventory, due to drop down by 0.8m from the last week down to 2.0M.

Later on in the US, 10-y Bond Auction, Average yield on 10-year bonds that is been sold by the government at auction verses auction’s bid-to-cover ratio, is due to remain similar to the last time.

Finally in the US, Wholesale Inventories is likely to decrease down by 0.3% to0.6% from April.

In Europe, Trade Balance, measures the difference between imported and exported goods, 13.4B is expected in Germany that is 0.2B less than on April, while -5.8B is predicted in Franch from -6.4B on April.

In New Zealand, Business NZ Manufacturing Index, manufacturers monthly survey to measure the  business conditions such as  production, prices, supplier deliveries, inventories and so on, indicates is expansion with 54.5 similar to the previous month.

For more about the kiwi, see the NZD/USD forecast.

In Japan, Current Account, value the difference between imported and exported goods, services, and income flows, and so on over the pausing month; 0.65T is predicted from 0.85T on April.

Later in Japan, Leading Indicators is about to raise up from 96.3% on the last time up to 97.0% now.

Finally on in Japan, Bank Lending no change is forecasted from the last month and 0.8% is due to remain.

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

For more events later in the week, check out the Live Forex Calendar