Forex Daily Outlook September 10 2012
Daily Look

Forex Daily Outlook September 10 2012

We open this week with Sentix Investor Confidence in the Euro-zone, BSI Manufacturing Index in Japan. Here is an outlook on the market-movers awaiting us.

In the US, Consumer Credit  measuring the total credit payments dropped unexpectedly to $6.5 billion in June following $16.7 billion in May. Economists expected a smaller drop to $11.5. A rise to $9.1 billion is expected now.

In Europe, French Industrial Production remained flat in June after dropping 2.1% in May, falling below forecasts of 0.4% gain. A decline of 0.5% is predicted this time.

Later in Europe, Sentix Investor Confidence slightly improved in August to -30.3 from -29.6 in the preceding month; however the 6 month outlook continues to be gloomy. Another small improvement to -26.9 is anticipated.

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

In Great Britain, RICS House Price Balance. House prices continued dropping in July falling to a one year low of -24% from -22% in June. Economists expected a smaller decline to -23%. An improvement to -22% is expected now.

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

In Australia, Home Loans. The number of home loans approved in Australia increased less than predicted by 1.3% in June following a 0.9% drop in May. Economists predicted a 2.1% rise.  A small rise of 0.1% is anticipated this time.

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

In Japan, BSI Manufacturing Index improved less than predicted in the second quarter reaching -5.7 from -7.3 in the first quarter. Economists expected a -2.4 reading. A drop to -6.1 is forecasted now.

Later in Japan, Economy Watchers Sentiment increased in July to 44.2 from 43.8 in June, while analysts expected a slightly higher reading of 44.5. A decline to 43.6 is predicted this time.

More in Japan, Household Confidence continued dropping in July reaching 39.7 after posting 40.4 in June, less than the 40.8 anticipated. Another decline to 39.6 is expected this time.

Finally in Japan, M2 Money Stock measuring the total cash in circulation remained unchanged in July at 2.2% while economists expected a rise to 2.3%. A 2.3% reading is expected now.

Read more about the yen in the USD/JPY forecast.

Happy forex trading

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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