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Forex Analysis
by ForexNewsNow Team on November 12th, 2010

Dollar Weekly Outlook: The Top 10 USD related events Nov 15-19

USD forex weekly outlook forex tradingNEW YORK (Forex News Now) – The FNN team has prepared its weekly list of the top 10 economic and news driven events most likely to influence the U.S. dollar’s FX rate over the course of the coming week, Nov. 15-19.

All times are given in GMT.

  1. Core Retail Sales, Monday, Nov. 15th: 1:30 p.m. – The Census Bureau will release Core Retail Sales for the United States. This number measures the most common goods purchased by consumers, and excludes the more volatile markets such as automobiles. Core retail sales will be watched by traders as any sign of the consumer strengthening in America is important as the consumer makes up 70% of GDP. Estimates are for a reading of 0.4%.
  2. Retail Sales, Monday, Nov. 15th: 1:30 p.m. – The Census Bureau will release the overall retail sales figures at the same time as the Core Retail Sales, and can give a larger picture of the American consumer’s health. Analysts estimate the retail sales figure to rise 0.8%.
  3. Empire State Manufacturing Index, Monday, Nov. 15th: 1:30 p.m. – A leading indicator of economic health, this survey takes place in the state of New York, and measures the manufacturing output of the area.  Estimates are for a reading of 13.10, which would be a decline from the previous number of 15.73.
  4. Producer’s Price Index, Tuesday, Nov. 16th: 1:30 p.m. – Released by the Department of Labor as an early indicator, the price that manufacturers and production firms pay can indicate the future direction of prices, which will eventually drive inflation. Estimates are for a reading of 0.7%.
  5. TIC Long-Term Purchases, Tuesday, Nov. 16th: 2:00 p.m. – The U.S. Department of the Treasury will release its Treasury International Capital report that measures the amount of stocks and bonds that foreigners buy in the U.S., versus the amount that Americans buy overseas. This is a measure used to see which way capital is flowing around the world. $100.3 Billion is the expected inflow of foreign purchases for this reading.
  6. Industrial Production, Tuesday, Nov. 16th : 2:15 p.m. – The Federal Reserve will be releasing the Industrial Production numbers, which will show how much production in the U.S. has either risen or fallen over the last month. A rise shows that demand could be picking up around the world. Industrial Production is expected to print a number of 0.4% for the month.
  7. Building Permits, Wednesday, Nov. 17th: 1:30 p.m. – The Census Bureau releases the Building Permits report. The construction industry forms a significant portion of the U.S. economy, and as such, this report can be an important early economic indicator. Analysts are expecting a reading of 570,000 new permit.
  8. Core Consumer Price Index, Wednesday, Nov. 17th: 1:30 p.m. ­– The Bureau of Labor Statistics will release the Core CPI, which is an early indication of potential changes in inflation.  The expected reading is 0.1%.
  9. Unemployment Claims, Thursday, Nov. 18th: 1:30 p.m. – The Department of Labor releases its weekly tally of unemployment claims on Thursday. Recently this number has been in the mid-400k range, with this week’s number expected at 444,000.
  10. Ben Bernanke’s Speech, Friday, Nov. 19th: 9:15 a.m. Federal Reserve Chairman Ben Bernanke will be speaking at the ECB’s conference on Friday. Any surprise statements are sure to rock the currency markets.

By ForexNewsNow Team

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