Forex Daily Outlook January 4 2013

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Unemployment Rate in Canada and Services PMI in the UK are the major market-movers. Let see what awaits us today.

In the US, Unemployment Rate, calculates by Percentage all the unemployed that are looking for jobs over the past month, 7.7% is due similar to the last report.

Later in the US, Non-Farm Employment Change, important indicator of consumer spending that measures the employed people (not including the farming industry), 135 points are due now from 146K on December.

Later on in the US, The Institute for Supply Management (ISM), Non-Manufacturing Purchasing Managers’ Index (PMI); Survey to rate the business conditions such as production, prices and inventories, 54.3 points are due now from 54.7 points on December.

More in the US, Factory Orders, value of all new manufacturers’ purchase orders, 0.4% is expected now from 0.8% on the last month.

Moreover in the US, Average Hourly Earnings, shows the price change for labor payment from businesses (not including the farming industry), 0.2% is likely with no change from the last report.

Also in the US, Crude Oil Inventories, the amount of crude oil barrels held in inventory is due to reduce further down from -0.6M on the past week to 1.9M now.

Finally in the US, Janet Yellen, Federal Reserve Governor, is due to deliver a speech in San Diego.

In Canada, Employment Change, value the number of employed on the last month, is about to reduce by 59.3K from December.

Later in Canada, Unemployment Rate, value by percentage the unemployed work force that looking for jobs from the past month, rise of 0.1% is predicted up to 7.3%.

Finally in Canada, Raw Materials Price Index (RMPI) calculates the price change of manufacturers’ raw materials, -0.9% is forecasted now.

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

In Europe, Final Services Purchasing Managers’ Index (PMI), Survey to value the business conditions such as new orders, prices deliveries and inventories, 47.8 points are about to remain like on December. While on the Spanish Services PMI rise up to 42.7 points is predicted.

Finally in Europe, German Retail Sales, is about to rise up from -1.3% on December up to 0.9% now.

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

In Great Britain, Services Purchasing Managers’ Index (PMI), a diffusion index, 50.4 points are due now from 50.2 points on the last month.

Later in Great Britain, Net Lending to Individuals Change in the total value of new credit issued to consumers, 0.4B is due now from -0.3B on the last time.

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

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About Author

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

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