Forex Trading Outlook for the Week Ending May 11th, 2012
Major factors and events that have a significant impact on the trading of the forex markets for the week ending May 11th, 2012 are as under:
On Monday, May 7th, 2012, euro zone reported its Sentix Investor Confidence while in Germany data on factory orders was published. In United States, data on consumer credit was reported. Canada came up with report on building permits.
In Switzerland, unemployment rate was released along with data on foreign currency reserves and consumer price index. In Australia, data on business confidence, business conditions, building approvals and foreign reserves was published.
Today on Tuesday, Germany reported its data on industrial production and wholesale price index in the euro zone. In United States, data on NFIB Small Business Optimism, TIPP economic optimism was reported while US Federal Reserve’s officials Lacker and Fisher addressed on monetary policy and US economy at separate events.
United Kingdom reported its data on employment confidence, house price balance, and BRC shop price index. Switzerland reported its data on SECO consumer confidence while in Australia data on trade balance was reported.
On Wednesday, May 9th, data on Germany’s trade balance and current account will be reported in the euro zone while United Kingdom will be publish the report on BRC sales. In United States, several reports will published which include data on MBA Mortgage approvals, wholesale inventories, and supplies data on crude oil, gasoline and distillates by the US Department of Energy. Moreover, US Federal Reserve’s official Plosser and Pianalto are expected to speak in Philadelphia and Lexington respectively.
Japan will report its official data on reserve assets, coincident index and leading index on Wednesday.
On Thursday, May 10th, 2012, European Central Bank will publish its monthly report for the single currency region while in United Kingdom, data on trade balance, manufacturing production and industrial production will be published. Moreover, the Bank of England will announce its asset purchase target and key interest rate decision. UK is also expected to publish its NIESR gross domestic product estimate.
In United States, data on weekly initial jobless claims, continuing claims, import price index, monthly budget statement and natural gas inventories data by EIA will be published.  Federal Reserve’s official Kocherlakota will address on monetary policy in Minneapolis on Thursday which will be closely watched to assess the future direction of the monetary policy.
In Canada, data on International Merchandise trade and new housing price index will be reported.
On Friday, May 11th, data on Germany’s consumer price index will be reported while European Commission will release its data on economic growth forecasts.
United Kingdom is expected to publish its report on producer price index on Friday.
In United States, data on producer price index and University of Michigan’s index on consumer confidence will be reported while Canada will report its data on participation rate, full time employment change and unemployment rate. Japan will report its data on M3 money supply on Friday.
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