Forex Daily Outlook January 24, 2012

BOE Gov King Speaks in the UK and Core Retail Sales in Canada  are the main events lined up. Let’s see what awaits us today.

In the US, Richmond Manufacturing Index, Manufacturer’s Monthly Survey to rate business conditions such as shipments, new orders etc., rise that shows condition improvements by 3 points up to 6 points this month.

In Canada, Retail Sales, primary consumer spending indicator to value the total retail level sales, rise of 0.2% is foreseen up to 0.3% this month. And on the Core Retail Sales (not including cars) reduce is predicted down to 0.2% from 0.7% on December.

In Europe, Flash Manufacturing Purchasing Managers’ Index (PMI); Monthly Managers’ Survey to value the business conditions such as production, prices, inventories etc., is due to rise up to 47.4 points, similar rise in France up to 49.2 points and up to 49.1 points in Germany.

More in Europe, Flash Services Purchasing Managers’ Index (PMI); Monthly Managers’ Survey to value the Service’s conditions over the past month is about to rise up to 49.1 points, and similar rise is expected in France to 50.5 points and up to 52.6 points in Germany.

Later in Europe, The Economic and Financial Affairs Council (ECOFIN) Meetings, in Brussels for EU Finance Ministers. 

Discuss financial issues like euro government finances. And formal statement can be released after the meetings ends.

Later on in Europe, Industrial New Orders, value the total manufacturer’s orders on the last month, due to reduce from 1.8% on December down to -2.1%.

Finally in Europe, Belgium National Bank of Belgium (NBB) Business Climate, is due to rise up by 0.4 points to -10.1 on this monthly survey.

In Great Britain, Mervyn King, Bank of England (BOE) Governor is about to speak in Brighton.

More in Great Britain, Public Sector Net Borrowing, value the difference between spending and income of the central and local government, about to drop down from 15.2B on December to 12.4B.

In Switzerland, Jean-Pierre Danthine, Swiss National Bank (SNB) Governing Board Member is expected to lecture in Zurich.

In Australia, Producer Price Index (PPI); measures the producer’s price change for finished goods and services, reduce is expected from 0.6% on December down to 0.4% now.

More in Australia, CB Leading Index, value the financial indicators based on 7 composite indexes, is about to remain 0.6% similar to last month report.

In Japan, Monetary Policy Statement, the main tool to communicate with investors about monetary policy that the Bank of Japan (BOJ) uses. While the Overnight Call Rate remains with no change 0.10% and follows by a BOJ Press Conference.

More in Japan, Trade Balance, monthly report to value the difference between imported and exported goods, is about to reduce from 0.54T on December down to 0.36T.

That’s it for today. Happy forex trading!

Sumber: Forexcrunch