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Today’s Forex Outlook
Submitted by Tradervox 2 on Wed, 27/06/2012 - 13:42
Tradervox (Dublin) - There are two main events to look out for today. The BBA Mortgage Approvals in Britain and the Durable Goods Orders in the US will be the main movers. However, there are a number of other events that are important to keep an eye on. Here is a summary.
The Durable Goods Orders is expected to show an increase from last month to 0.5 percent this month. The Core Durable Goods Orders, which exclude the transportation items, is expected to show an increase from negative 0.9 in May to 1.0 percent this month. Another major event from the US will be the Pending Home Sales report which is expected to show an increase to 1.3 percent from negative 5.5 percent in May. The Crude Oil Inventories will be the last report from the US that investors will be keeping a close eye on. It is expected that the crude oil held in inventory remained the same at 2.9M.
The market will also be looking forward to the German Preliminary Consumer Price Index which gives the value of consumer’s price change for goods and services. It is expected that a 0.2 percent increase will be reported. Germany will continue to be the focus of the market as German Import Prices are released. This report shows the change in price of the exported goods that were purchase in the country. It is expected to remain at -0.5 percent.
When British Bankers’ Association Mortgage Approvals are released, market focus will shift onto UK, where an increase of 0.4 percent is expected. Another report will be released in UK later showing an increase in the CBI Realized Sales. The report is expected to show an increase of 14 points. Japan Retail Sales will be the last report investors will be keeping their eyes on today. It is expected to show a decline to 3.1 percent from 5.7 percent last month.
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