Forex Daily Outlook

Fed Chairman Bernanke Speaks in the US and BOE Gov King Speaks in the UK are the highlights of today’s outlook. Let’s see what awaits us today.

G20 Meetings are attended by finance ministers and central bankers from 20 industrialized nations including the G7 nations – Canada, Italy, France, Germany, Japan, the UK, and the US. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering policy shifts and meeting objectives is released after the meetings have concluded.

In Canada, Consumer Price Index (CPI) that measures the goods and services purchased by consumers; is about to rise by 0.3% , and the Core CPI (excluding the 8 most volatile items) is about to rise by 0.5%. Consumer prices account for a majority of overall inflation.

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

In Europe, German Producer Price Index (PPI) that measures the goods sold by manufacturers; is about to reduce by 0.1%.

For more on the Euro, read the EUR/USD forecast.

In Great Britain, Bank of England (BOE) Governor Mervyn King due to participate in a panel discussion titled “Global Imbalances and Financial Stability” at the Global Imbalances and Financial Stability Launch Event, in Paris.

More in Retail Sales, total value of inflation-adjusted sales at the retail level; is about to rise by 1.4%. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

Later in Great Britain, Bank of England (BOE), Deputy Governor Paul Tucker due to speak at the Clare College Distinguished Lecture, in Cambridge.

Finally in Britain, Prelim Mortgage Approvals, Number of new mortgages approved for home purchases during the previous month is due to remain 43K.

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

That’s it for today. Happy forex trading!

 source: http://www.fxstreet.com