Forex Outlook for the Week Ending December 23rd

Major economic events that could affect the currencies trading for the week ending December 23rd, 2011 are as follows:

On Monday December 19th, 2011, United Kingdom reported its industry data on house price inflation while Bank of England published its quarterly bulletin. Official data on current account was released in euro zone. Moreover, European Central Bank’s President Mario Draghi addressed at a public event.

In New Zealand, data on business confidence and consumer sentiment was released while Canada reported its official data on wholesale sales.

On Tuesday, December 20th, United States is expected to report its government data on building permits and a report on housing starts. In United Kingdom, reports consumer confidence and industry data on sales was published. In euro zone, Germany reported its official data on producer price inflation, business climate and consumer climate. In Switzerland, official figure on country’s trade balance was reported.

In Australia, index of leading economic indicators was reported while the central bank released the minutes of its latest monetary policy meeting. In New Zealand, official data on current account and visitor arrivals was published. Canada reported its official figure of consumer price inflation.

On Wednesday, December 21st, United States will report industry data on existing home sales along with data on crude oil inventories, and treasury currency report.

In United Kingdom, Bank of England will release the minutes of its latest policy meeting which will be closely watched to assess the future direction of the monetary policy. The central bank will also report data on public sector net borrowing.

In Australia, index of leading indicators was published while New Zealand reported its official figure on GDP for the 3rd quarter. In Japan, government data on trade balance was reported while the central bank released its benchmark interest rate. Canada is expected to report its official data on retail sales on Wednesday.

On Thursday December 22nd, 2011, government data on current account and revised figure for third quarter’s GDP growth will be reported in United Kingdom. In United States, several reports will be published which will include initial jobless claims, revised data on 3rd quarter’s GDP and data on consumer sentiment & inflation expectations by University of Michigan. In Japan, Bank of Japan’s governor Masaaki Shirakawa will address at a public event which will be closely watched to get any hints for the future direction of the monetary policy. The central bank will also release its monthly report.

On Friday, December 23rd, 2011, United Kingdom reported its data on mortgage approvals while in United States, official data on durable goods orders along with data on personal spending income, personal spending and new home sales was reported. In Canada, monthly report on GDP growth will be published. Markets in Japan will remain closed on Friday in observance of Emperor’s Birthday.

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