Forex Daily Outlook February 27 2013

In the US Fed Chairman Bernanke Testifies and Second Estimate GDP in the UK are the main events today.  Here is an outlook on the market-movers awaiting us.

In the US, Ben Bernanke, Federal Reserve Chairman, is due to testify in Washington DC.

Later in the US, Durable Goods Orders value the new manufacturers purchase orders of durable goods, -4.8% is expected now from 4.3% on the last time. While on the Core Durable Goods Orders (excluding transportation items) 0.3% is forecasted now from 1.0% on January.

More in the US, Pending Home Sales, the homes under contract  that are to be sold but still awaiting the closing transaction (not including new building) rise up to 1.7% is likely now from -4.3% on the past month.

Finally in the US, Crude Oil Inventories shows the commercial crude oil barrels that are held in inventory over the past week, 2.4M is calculated now from 4.1M on the last time.

In Europe, European Central Bank (ECB), President Mario Draghi is about to speak in Bayern.

Later in Europe, M3 Money Supply, value all the quantity change of domestic currency that is circulated and deposed in banks, reduce of 1% is calculated now down to 3.2% from the last time.

Finally in Europe, GfK German Consumer Climate, Survey to value the previous and coming financial conditions and overall economic situation, rise of 1 point up to 5.9 points is due now.

In Great Britain, Second Estimate Gross Domestic Product (GDP), value all goods and services that were produced by the economy, -0.3% is likely to remain similar to the last quarter.

Later in Great Britain, Charles Bean, Bank of England (BOE) Deputy Governor is due to speak in London.

Finally in Great Britain, Prelim Business Investment, measures the total value of capital investments that was made by businesses and the government over the past quarter, 2.2% is due now from 3.8% on the last report.

In Switzerland, KOF Economic Barometer, a composite index that is based on 12 financial indicators, 1.00 is calculated now from 1.05 on January.

In Australia, Construction Work Done, measures the completed construction projects, 1.5% is expected now from 1.7% on the last quarter.

In Japan, Prelim Industrial Production, value of manufacturers, mines, and utilities output production, 1.6% is expected from 2.5% on the previous time.

Trade well