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Forex Daily Outlook November 20 2012

Building Permits in the US and Eurogroup Meetings in Europe are the main events lined up, let’s see what awaits us today.

In the US, Ben Bernanke, Federal Reserve Chairman, is due to deliver a speech at New York Economic Club.

Later in the US, Building Permits, very important indicator for future construction to measure the previous month residential building permits issued, 0.87M is due now from 0.89M on the last time, similar reduce is calculated on the Housing Starts with 0.85M now from 0.87M on October.

More in the US, Jeffrey Lacker, Federal Reserve Bank of Richmond President is due to speak in New York.

In Canada, Wholesale Sales, value the total of sales at the wholesale level, rduce of 0.2% is likely down to 0.3% from October.

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

In Europe, Eurogroup Meetings, 17 euro area member states that coordinates the financial policies of the Eurogroup.

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

In Switzerland, Trade Balance, calculate the difference between imported and exported goods over the past month, 2.09B is expected now from 1.93B on October.

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

In Australia, Monetary Policy Meeting Minutes, scheduled 11 times per year, the detailed record of the Reserve Bank of Australia (RBA) Board’s most recent meeting that provides the financial conditions and interest rates decisions.

Later in Australia, Glenn Stevens, Reserve Bank of Australia (RBA) Governor, is due to speak in Melbourne.

More in Australia, Melbourne Institute (MI) Leading Index, a composite index that is based on 9 monetary indicators, 0.5% is due now similar to the last report on October.

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

In Japan, Monetary Policy Statement, the primary the Bank of Japan (BOJ) tool that is uses to communicate with investors regarding financial policy, and also projects the economic outlook and future rate decisions. Meanwhile on the Overnight Call Rate 0.10% is expected with no change from the last time. And BOJ Press Conference is scheduled.

Later in Japan, Trade Balance, value the difference between imported and exported goods on the last month; -0.49T is due not from -0.98T on October.

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

Trade well