Forex Crunch Forex Daily Outlook – July 5 2010

Forex Daily Outlook – July 5 2010

Posted: 04 Jul 2010 02:00 PM PDT

Exiting news to start the week, in Britain interesting raises in House Price Index; in Australia Job Advertisements and in New Zealand Survey of Business Opinion showing optimism. let’s see what await us today.

In Europe, Retail Sales monthly report that measures the change in the total value of inflation-adjusted sales at the retail level is about to rise by 0.5%. It tends to have a relatively muted impact because Germany and France release earlier consumer spending data, and accounts for the majority of overall economic activity.

Also in Europe, Final Services PMI Monthly survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions and measures the Level of a diffusion index based on surveyed purchasing managers in the services industry shows a decries from 56.2 to 55.4 from last month.

Finally in Europe, Sentix Investor Confidence, monthly survey of about 2,800 investors and analysts which asks respondents to rate the relative 6-month economic outlook for the Eurozone and measures the level of a diffusion index based on surveyed investors and analysts; a leading indicator of economic health.

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

Moving on to Great Britain, Halifax Bank of Scotland (HBOS) House Price Index (HPI), a leading indicator of the housing industry’s health and measurers the change in the price of homes financed by HBOS; shows an interesting rise from -0.4% to 0.6%..

More in Great Britain, Services PMI Purchasing Managers’ Index (PMI); Monthly survey of purchasing managers which asks respondents to rate the relative level of business conditions and shows stability Level of a diffusion index on the last month of 55.2,

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

In Switzerland, Real Retail Sales released monthly and messieurs the change in the total value of inflation-adjusted sales at the retail level, shows a rise of 1.4% and affects the overall economic activity

In Australia, Australia and New Zealand Banking Group (ANZ) Job Advertisements, released monthly and mistresses the change in the number of jobs advertised in the major daily newspapers and websites covering the capital cities; shows stability on 4.3%.

Later in Australia, Australian Industry Group (AIG) Services Index, Survey of about 200 service-based companies which asks respondents to rate the relative level of business conditions and measures the level of a diffusion index based on surveyed service-based companies and shows a contraction on 47.5.

Finally in Australia, Melbourne Institute (MI) Inflation Gauge released monthly and provides a monthly look at consumer inflation and is designed to mimic the quarterly government-released Price Index (CPI); data, and measures the change in the price of goods and services purchased by consumers;

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

In New Zealand, Survey of Business Opinion quarterly survey of about 3,500 businesses which asks respondents to rate the relative 6-month economic outlook, measures the Level of a diffusion index based on surveyed manufacturers, builders, wholesalers, retailers, and service providers; and indicates optimism of 22.

That’s it for today. Happy forex trading!

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