US inflation data, Unemployment claims and Philly Fed Manufacturing Index are the main highlight on today’s outlook. Let’s see what awaits us today. In the US, Inflation rate, Headline inflation increased by 0.5% in July following 0.2% decrease in the previous month. This reading was above the 0.2% increase predicted. Meanwhile, Core prices increased by 0.2% in July in line with expectations following 0.3% rise in June. CPI is expected to increase again by 0.2% while Core CPI is predicted to climb 0.3%. Later in the US, Unemployment claims measuring the number of initial claims for unemployment increased to 414,000 following 412,000 in the preceding week, higher than the 407,000 predicted. Unemployment claims are expected to drop to 410,000. Further in the US, Philly Fed Manufacturing Index based on produces survey, plunged drastically in August to -30.7 from 3.2 in the previous month indicating pessimism due to worsening conditions in theUSeconomy. A small increase to -14.4 is expected now. More in the US Current account measuring the difference between imports and exports showed a better than expected figure of -119B in the first quarter of 2011 from -112B in the last quarter of 2010 indicating more imports than exports. Further growth of imports is expected with -121B. Further news from the US, Empire State Manufacturing Index, a producers survey and an indicator of economic conditions plunged to -7.7 in August from -3.8 in the previous month indicating pessimism among manufacturers. A small rise to -3.9 is predicted. Another event in the US, Capacity Utilization Rate, measuring the amount of resources used by manufacturers increased to 77.5% in July from 76.9% in June while predicted to reach 77.0%. The same rate is expected now. Finally in the US, Industrial production jumped by 0.9% in July from 0.4% gain in the previous month and above the 0.5% climb predicted by analysts. A smaller increase of 0.1% is predicted. In Canada, Manufacturing sales, Manufacturing sales inCanadadropped unexpectedly by 1.5% in June after decreasing 0.7% in the previous month indicating soft market conditions. An increase of 1.3% is predicted now. For more on USD/CAD, read the Canadian dollar forecast. In Europe, Jean-Claude Trichet president of the ECB is scheduled to speak inPoland. His speech can cause volatility in the markets especially in these troubled times. More in Europe, ECB monthly bulletin issues the data upon which the members based their rate decision. Finally in Europe, Inflation data, Headline inflation increased by 2.5% in July according to expectations and following the same increase in the previous month The same increase is expected now. Core CPI gained 1.2% following 1.6% in the previous month. A bigger increase of 1.7% was predicted. Another rise of 1.2% is expected now. For more on the Euro, read the Euro to dollar forecast. In Great Britain, Retail sales increased by 0.2% in July while expected to gain 0.3% following .8% in the previous month. A drop of 0.2% is predicted now. More in Great Britain, Consumer Inflation Expectations, The amount of people believing prices would change in the next 12 months increased by 3.9% in the second quarter following 4.0% gain on the first quarter indicating inflation is of some concern. Later in Great Britain, Nationwide Consumer Confidence dropped by 2 points in July reaching 29 and close to the 50 point line. Analysts expected a bigger drop to 46. Read more about the Pound in the GBP/USD forecast. In Switzerland, Libor rate or the benchmark interest rate has been maintained at a minimum of 0-0.25% in line with expectations. No change is foreseen. More in Switzerland, SNB Monetary Policy Assessment following the rate decision where explanations are offered concerning the members decision. This information may prove valuable to investors. Finally in Switzerland, Industrial production, The first quarter showed a big decrease of 9.2% while 7.5% drop was predicted following 7.7% gain in the last quarter of 2010. An increase of 3.3% is predicted for the second quarter. Read more about the Swiss franc in the USD/CHF forecast. In Australia, Employment data. More in Australia, MI Inflation expectations, according the last survey in July an increase of 2.7% in occurred following 3.4% increase in the previous month. Finally in Australia, New Motor Vehicle Sales ticked up 8.6% in July from 1.9% gain in the previous month following renewed supply chains inJapan. A smaller figure is expected now. For more on the Aussie, read the AUD/USD forecast. Happy forex trading Anat Dror Anat Dror Anat Dror â€“ 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. Iâ€™ve also worked as a community organizer Anat's Google Profile View All Post By Anat Dror Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Daily Look share Read Next FXCM to Buy Foreland Forex – A Japanese Forex Broker Yohay Elam 10 years US inflation data, Unemployment claims and Philly Fed Manufacturing Index are the main highlight on today's outlook. Let's see what awaits us today. In the US, Inflation rate, Headline inflation increased by 0.5% in July following 0.2% decrease in the previous month. This reading was above the 0.2% increase predicted. Meanwhile, Core prices increased by 0.2% in July in line with expectations following 0.3% rise in June. CPI is expected to increase again by 0.2% while Core CPI is predicted to climb 0.3%. 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