Forex Daily Outlook – October 31 2011

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We start the week with some interesting events such as Chicago PMI in the US and GDP  in Canada as the main highlight on today’s outlook. Let’s see what awaits us today.

In the US, Chicago Purchasing Managers’ Index (PMI); monthly managers in Chicago survey to value the business conditions for employment, new orders etc. is due to reduce down to 59.2 points from 60.4 points.

In Canada, Gross Domestic Product (GDP), measures all the economy productions for services and goods, is about to drop down to 0.2% from 0.3% on September.

More in Canada, Raw Materials Price Index (RMPI), value the raw materials manufacturer’s prices, is predicted to rise from -3.2% on September to  -2.3% this month,

Finally in Canada, Industrial Product Price Index (IPPI) expects to drop down to 0.1% this month.

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

In Europe, Unemployment Rate, measures the all work force by percentage that is looking for employment over the passing month, 10% is predicted with no change from September.

More in Europe, CPI Flash Estimate, value the change in consumer’s prices regarding services and goods, expected to drop down by 0.1% to 2.9% this month.

Finally in Europe, German Retail Sales, the main measure of consumer spending, that can affect the total financial activity, a rise from -2.7% on September up to 1.1% is forecasted.

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

In Great Britain, Net Lending to Individuals, value the new credit distributed to consumers, due to drop from 1.0B on the last month down to 0.9B now.

More in Great Britain, Mortgage Approvals is expected to drop down to 51K.

Finally in Great Britain, M4 Money Supply is due to rise up to 0.3%.

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

In Australia, Private Sector Credit, value the change in the consumers and businesses new credit that were issued on the last month, 0.2% is predicted with no change.

More in Australia, MI Inflation Gauge, is about to remain 0.1%.

Finally in Australia, AIG Manufacturing Index is predicted to stay 42.3 points.

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

In New Zealand, Building Consents, value the number of approvals issued for new building, 12.5% is forecasted with similar to September.

More in New Zealand, Labor Cost Index, measures prices that businesses pay for employment (without overtime), a rise from 0.5% on September up to 0.9% is foreseen now.

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

In Japan, Monetary Policy Meeting Minutes, the full record of the BOJ Board’s meeting regarding the financial conditions that can influence on interest rates decisions.

Read more about the yen in the USD/JPY 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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