Forex Crunch Forex Daily Outlook – June 7 2010

Forex Daily Outlook – June 7 2010

Posted: 06 Jun 2010 02:00 PM PDT

The week begins with several important events, Chairman Ben Bernanke (US) and Governor Mark Carney (CAD) delivers speeches and in Australia the ANZ Job Advertisements is released. Let’s see what awaits us today.

In the US, Federal Reserve (Fed) Chairman Ben Bernanke intends to speak at the Dinner hosted by the Woodrow Wilson International Center, in Washington DC, may influence on the short term interest rates.

Later in the US, Consumer Credit that measure the change in the total value of outstanding consumer credit that requires installment payments, decreased from 2 Billion to 1.1 Billion.

In Canada, Bank of Canada (BOC) Governor Mark Carney intends to speak at a Conference, in Montreal, may influence on the nation’s currency value.

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

Moving on to Europe, In Germany the Factory Orders droop down from 5% to -1%, The figure gives a picture of the strength of demand for German industrial products.

Also in Europe, Sentix Investor Confidence, a survey of about 2,800 investors and analysts which asks respondents to rate the relative 6-month economic outlook for the Eurozone, shows an optimistic rise from -6.4 to -5.2.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs' latest analysis.

In Great Britain, British Retail Consortium (BRC) Retail Sales Monitor that Measures the change in the value of same-store sales at the retail level will probably be similar this time -2.3%/

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

In Australia, The Australia and New Zealand Banking Group (ANZ) Job Advertisements, released monthly and measures the change in the number of jobs advertised in the major daily newspapers and websites covering the capital cities, will probably be similar this time -1.2%.

More in Australia, Australian Industry Group (AIG) indicates industry expansion of 55.8 by a survey of about 120 construction companies which asks respondents to rate the relative level of business conditions.

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

In New Zealand, Manufacturing Sales, released quarterly and measures the change in the total value of sales at the manufacturing level could show another rise of 0.1%.

In Japan, Bank Lending released monthly that measures the change in the total value of outstanding bank loans issued to consumers and businesses.

More in Japan, the Current Account, difference in value between imported and exported goods, is about to decrease by 0.35 T, and influent the currency demand.

Finally in Japan, M2 Money Stock info that released monthly and measures the change in the total quantity of domestic currency in circulation and deposited in banks, should decrease by 1%.

That’s it for today. Happy forex trading!

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