Forex Daily Outlook November 6 2012

Ivey PMI in Canada and Manufacturing Production in the UK are the main events lined up.  Let’s see what awaits us today.

In the US, John Williams, Federal Reserve Bank of San Francisco President, is due to deliver a speech in Irvine.

Later in the US, Presidential Election, Every 4 years which is based on early vote counts so the winner will likely to projected before the official vote count is announced. And Congressional Elections that is Every 2 years is likely now to elect 435 members to the US House of Representatives and 33 members to the Senate.

In Canada, Ivey   Purchasing Managers’ Index (PMI), Monthly Survey to rate the business conditions like employment, new orders, supplier deliveries and inventories, drop down to 58.3 points is due now from 60.4 points on October.

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

In Europe, Spanish Services Purchasing Managers’ Index (PMI); Monthly Survey to value the business conditions such as production, prices and inventories, 40.2 points are due now similar to the last report.

Later in Europt, German Factory Orders, value all the new purchase orders that were placed with manufacturers on the last month, -0.3% is predicted now from -1.3% on October.

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

In Great Britain, Manufacturing Production, value the manufacturers’ output production, 0.3% is calculated now from -1.1% on October.

Later in Great Britain, BRC Retail Sales Monitor, measurs the sales at the retail level for the same-store sales, and  1.5% is due to remain similar to the last report on October and.

More in the Great Britain, National Institute of Economic and Social Research (NIESR) Gross Domestic Product (GDP) Estimate, is due to remain 0.8% with no change from the last time.

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

In Switzerland, State Secretariat for Economic Affairs (SECO) Consumer Climate, Survey to rate the level of historical and upcoming financial conditions, due to further reduce down to -21 points from -17 points on the last report.

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

in Australia, RBA Rate Statement, primary tools that is used by the Reserve Bank of Australia (RBA) Board to communicate with investors regarding financial policy. And discusses the monetary outlook and outcome of future decisions; meanwhile on the Cash Rate reduce of 0.25% is likely down to 3%.

Later in Australia, House Price Index (HPI), value the selling price change for homes in the nation’s 8 state capitals, due to rise up to 1.1% from 0.5% on the last quarter.

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

In New Zealand, Reserve Bank of New Zealand (RBNZ) Financial Stability Report, shows the bank’s view of inflation, growth, and other financial conditions that will affect the interest rates in the future.

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

Trade well