Forex Outlook for the Week Ending December 9th, 2011
Significant economic events that have a major impact on forex and currencies markets for the week ending December 9th are as follows:
On Monday December 5th, 2011, United States reported its official data on factory orders while Institute of Supply Management released its report on service sector activity. In euro zone, revised data on service sector growth was released along with data on investorâ€™s confidence and retail sales. Australia released its industrial data on service sector.
On Tuesday, December 6th, 2011, euro zone is expected to release its revised data on gross domestic product while Germany will report its official data on factory orders. Official data on retail sales will be published in United Kingdom. Â In Switzerland, official data on consumer price inflation will be released while Swiss National Bank will publish its monthly report on foreign currency reserves.
In Australia, benchmark interest rate is to be released by the Reserve Bank of Australia along with data on current account balance. In Canada, Bank of Canada will announce its benchmark interest rate along with data on building permits and Ivey PMI.
On Wednesday, December 7th, 2011, Germany will report its official data on industrial production while in United States, official data on crude oil inventories will be reported. United Kingdom will report its official data on manufacturing and industrial production while the National Institute of Economic and Social Research will report its quarterly GDP estimate for UK.
Australia will report its official data on GDP for the third quarter while Reserve Bank of New Zealand will announce its base interest rate.
On Thursday, December 8th, 2011, United States will publish its weekly report on initial jobless claims while in euro zone, European Central Bank will release its benchmark interest rate which will give hints for the future direction of the European monetary policy. In United Kingdom, Bank of England is expected to announce its benchmark interest rate.
In Japan, official data on core machinery orders, current account balance and bank lending will be reported while in Australia official figure on unemployment rate will be released. Canada is expected to announce its official data on housing starts and house price inflation on Thursday.
On Friday, December 9th, 2011, France will report its official data on industrial production while in euro zone, European Union Leaders are expected to meet in an economic summit in Brussels to discuss measures of controlling regionâ€™s debt problems. United Kingdom will report its official data on producer price inflation along with figure on the countryâ€™s trade balance.
In United States, several reports will be published which include, data on trade balance and University of Michiganâ€™s data on countryâ€™s inflation expectations and consumer sentiment. Japan will report its official data on manufacturing activity and revised data on GDP for the third quarter. In Canada, official figure on trade balance and data on labor productivity is expected on Friday.
Rehan Khan has been involved in the financial sector for last 6 years. During that time he has been associated with many financial institutions, banks and brokerages. Rehan is also a graduate in finance and has been writing for last 2 years for various web publications.
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