Forex Daily Outlook June 4 2013

Trade Balance both in the US and Canada are the main events lined up.  Let’s see what awaits us today.

In the US, Trade Balance, value the difference between imported and exported goods and services, -41.1B is due on the reported month from -38.8B on May.

Later in the US, Esther George, Federal Reserve Bank of Kansas City President, is about to speak in Santa Fe.

Later on in the US, Investor’s Business Daily (IBD) / TechnoMetrica Institute of Policy and Politics (TIPP) Economic Optimism, is likely to rise up to 50.2 points from 45.1 on May

In Canada, Trade Balance, value the difference in value between imported and exported goods, since Export demand and currency demand are linked, -0.4B is predicted now from 0.0B on May.

For more on USD/CAD, read the Canadian dollar forecast.

In Europe, Producer Price Index (PPI), -0.2% is calculated now with no change from the last report.

For more on the Euro, read the Euro to dollar forecast.

In Great Britain, Construction PMI, Survey to rate the quick react businesses conditions, such as employment, new orders, supplier deliveries and inventories, rise of  0.3 points is likely up to  49.7 points now.

Later in Great Britain, Halifax House Price Index (HPI), value the price change of homes that were financed by Halifax Bank of Scotland (HBOS), 0.2% is measured now from 1.1% on May.

Finally in Great Britain, British Retail Consortium (BRC) Shop Price Index, 0.4% is due now.

Read more about the Pound in the GBP/USD forecast.

In Australia, Gross Domestic Product (GDP), value all goods and services that were produced by the economy over the last quarter, 0.8% is likely now from 0.6% on the last time.

Later in Australia, Australian Industry Group (AIG) Services Index, 44.1 points are due to remain with no change from the last month.

For more on the Aussie, read the AUD/USD forecast.

In New Zealand, Australia and New Zealand Banking Group (ANZ) Commodity Prices, is likely to remain 12.6% similar to the previous report