Forex Daily Outlook November 8 2012
Daily Look

Forex Daily Outlook November 8 2012

Unemployment Claims in the US and MPC Rate Statement in the UK are the major market-movers. Let see what awaits us today.

In the US, Trade Balance, value the difference between imported and exported goods and services on the last month; -44.9B is due now from -44.2B on the previous report.

Later in the US, Unemployment Claims, weekly report to measure the unemployed that failed for insurance for the first time, rise of 4K up to 367K is predicted from the last time.

In Canada, Trade Balance, shows the difference between imported and exported goods, -1.4B is calculated this week from -1.1B on the last report.

Later in Canada,   New Housing Price Index (NHPI), value the new homes selling price change, 0.2% is likely similar to October’s report.

More in Canada, Mark Carney, Bank of Canada (BOC) Governor, is due to speak in Montreal.

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

In Europe, Minimum Bid Rate, Interest rate that provides the bulk of liquidity to the banking system, no change is due from 0.75% on October.

Later in Europe, European Central Bank (ECB) Press Conference, main method that the ECB uses to communicate with investors about monetary policy and provides clues regarding future financial policy.

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

In Great Britain, Monetary Policy Committee (MPC) Rate Statement, one of the primary tools that the MPC uses to communicate with investors regarding monetary policy and it discusses the financial outlook. Meanwhile on the Official Bank Rate no change is likely from 0.50% on October.

Later in Great Britain, Asset Purchase Facility, value the total of money the Bank of England (BOE) will create and use to acquire assets in the open market, 375B is likely this mornth similar to the last report.

Finally in Great Britain, Trade Balance, the difference between imported and exported goods, -9.1B is calculated now from -9.8B on the last month.

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

In Australia, Employment Change shows the employed people on the previous month, reduce down to 0.2K is estimated from 14.5K on October.

Later in Australia, Unemployment Rate, value the unemployed in percentage that are actively seeking for jobs over the past month, rise of 0.1% up to 5.5% is due now.

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

Trade well

Anat Dror

Anat Dror

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