Forex Daily Outlook October 4 2012
Daily Look

Forex Daily Outlook October 4 2012

FOMC Meeting Minutes in the US and Asset Purchase Facility in the UK are the major market-movers. Let see what awaits us today.

In the US, Unemployment Claims, weekly important indicator to measure the number of individuals that filed for the first time for unemployment insurance, 371K is expected now from 359K on the last time.

Later in the US, Federal Open Market Committee (FOMC) Meeting Minutes, the FOMC’s most detailed record for the recent meeting that provides insights into the financial conditions. Is is

Later on in the US, Factory Orders, value the total manufacturer’s new purchase orders, reduce is estimated from 2.8% on September down to -5.9% now.

More in the US, Natural Gas Storage, weekly indicator to value the natural gas in cubic feet that is held in underground storage, 80B is due this time similar to the last week’s report.

Finally in the US, Challenger Job Cuts, measures the number of job cuts announced by employers, no change is likely from September and -36.9% is due to remain.

In Canada, Ivey Purchasing Managers’ Index (PMI); Survey to rate the business conditions including new orders, prices, supplier deliveries and inventories, 59.0 points are predicted now, down from 62.5 on the last report.

Later in Canada, Tiff Macklem, Bank of Canada (BOC) Senior Deputy Governor is due to speak in Winnipeg.

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

In Europe, Minimum Bid Rate, value the Interest rate on the main refinancing operations, no change is due from the last monthly report and 0.75% is calculated. ECB Press Conference is due in September.

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

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

Later on in Great Britain, Asset Purchase Facility Asset Purchase Facility calculates the total value of money that the Bank of England (BOE) creates and use for purchasing open market assets, 375B is estimated similar to September’s report.

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

In Australia, Building Approvals, value the new building approvals that were issued on the last month, rise from -17.3% on September up to 4.8% now is forecasted.

Later in Australia, Retail Sales measures all the sales at the retail level, rise from -0.8% the last month up to 0.5% now is due.

Finally in Australia, Australian Industry Group (AIG) Construction Index, Survey to value the business conditions, no change from the last month is estimated and 32.2 points are due now.

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

For more events later in the week, check out the Live Forex Calendar

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