Forex Daily Outlook October 31 2012
Daily Look

Forex Daily Outlook October 31 2012

GDP  in Canada and Building Approvals in Australia are the main events lined up.  Let’s see what awaits us today.

In the US, Employment Cost Index, value the price change that businesses and the government pay for civilian labor, no change is likely from the last quarter and 0.5% is due to remain.

 Later in the US, Chicago Purchasing Managers’ Index (PMI); Survey in Chicago to rate the business conditions such as employment, new orders, supplier deliveries and inventories, rise up to 51.0 points is estimated from 49.7 the last monthly report.

Finally in the US, Crude Oil Inventories is due to reduce down to 1.6M now from 5.9M on October.

In Canada, Gross Domestic Product (GDP), 0.2% is calculated for all the goods and services that were produced by the economy on the last month, similar to the last time.

Later in Canada, Mark Carney, Bank of Canada (BOC) Governor is due to testify in Ottawa.

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

In Europe, German Retail Sales, value of all the sales at the retail level (not including cars and gas stations), rise up to 0.4% is predicted now from 0.1% on September.

Later in Europe, French Consumer Spending, likely to drop down to 0.2%, from 0.4% of all the goods that were expenditure by consumers on the last month.

More in Europt, Eurogroup Meetings, usually are held in Brussels for the Eurogroup coordinates economic policies and can effect on the Eurozone’s economic health

Consumer Price Index (CPI) Flash Estimate, measures the consumers’ price change of goods and services, 2.5% is estimated now similar to the last time.

Finally in Europe, Unemployment Rate, the total work force by percentage of the total work force that is unemployed and looking for employment, no change is likely from the previous month and 11.4% is calculated this time.

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

In Great Britain, Charles Bean, Bank of England (BOE) Deputy Governor, is due to deliver a speech in Hull.

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

In Australia, Building Approvals, reduce down to 1.1% is calculated from 6.4% of new building approvals issued on the last month.

Later in Australia, Private Sector Credit, value of all new credit that were issued to consumers and businesses over the last month, no change is likely and 0.2% is due to remain.

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

In Japan, Average Cash Earnings, shows the total value of employment income that is collected by workers on the monthly report, -0.3% is expected now from 0.2% on October.

Read more about the yen in the USD/JPY 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