Forexpros Fundamental Weekly Outlook, Dec 08-Dec 11,2009

Forexpros Fundamental Weekly Outlook, Dec 08-Dec 11,2009

EU:
• Monday: Euro-Zone Sentix Investor Confidence (Previous -7, Forecast N/A). Germany Factory Orders MoM (Previous 0.9%, Forecast 0.8%). & YoY (Previous -13.1%, Forecast -6.2%).
• Tuesday: Bank of France Business Sentiment (Previous 95.0, Forecast N/A). Germany Industrial Production MoM (Previous 2.7%, Forecast 1.0%) & YoY (Previous -12.9%, Forecast -10.2%).
• Wednesday: Germany Trade Balance (Previous 10.6B, Forecast 10.7B). Germany Current Account (Previous 9.4B, Forecast 9.4B). Germany Consumer Price Index (CPI) MoM (Previous -0.2%, Forecast -0.2%) & YoY (Previous 0.3%, Forecast 0.3%).
• Thursday: France Industrial Production MoM (Previous -1.5%, Forecast 0.6%) & YoY (Previous -10.4%, Forecast -6.7%)

US:
• Wednesday: Wholesale Inventories (Previous -0.9%, Forecast -0.5%).
• Thursday: Trade Balance (Previous -36.5B, Forecast -37.0B), Initial Jobless Claims (Previous 457K, Forecast 465K).
• Friday: Retail Sales (Previous 1.4%, Forecast 0.6%), Retail Sales Less Autos (Previous 0.2%, Forecast 0.5%). University of Michigan Confidence (Previous 67.4, Forecast 68.5). Business Inventories (Previous -0.4%, Forecast -0.2%).

JP:
• Monday: Official Reserve Assets (Previous 1056.88B, Forecast N/A), Current Account (Previous 1567.9B, Forecast 1483.2B).
• Tuesday: Trade Balance (Previous 599.2B, Forecast 862.3B). Bank Lending (Previous -1.5%, Forecast N/A), Eco Watchers Survey: Current (Previous 40.9, Forecast 40.0) & Outlook (Previous 42.8, Forecast N/A).
• Wednesday: Gross Domestic Product (GDP) QoQ (Previous 1.2%, Forecast 0.7%A), & YoY (Previous 4.8%, Forecast 2.8%).
• Thursday: Machine Orders MoM (Previous 10.5%, Forecast -4.5%) & YoY (Previous -22.0%, Forecast -21.0%).
• Friday: Consumer Confidence (Previous 40.8, Forecast N/A).

UK:
• Tuesday: Industrial Production MoM (Previous 1.6%, Forecast 0.5%) & YoY (Previous -10.3%, Forecast -7.6%).
• Wednesday: Trade Balance (Previous -3469M, Forecast -3175M).
• Thursday: Bank of England Interest Rate Decision (Previous 0.50%, Forecast 0.50%)
• Friday: PPI Output MoM (Previous 0.2%, Forecast 0.3%) & YoY (Previous 1.7%, Forecast 2.9%).

AU:
• Monday: AiG Perf of Construction Index (Previous 50.9, Forecast N/A).
• Tuesday: Current Account (Previous -13347M, Forecast -16650M).
• Wednesday: Westpac Consumer Confidence (Previous -2.5%, Forecast N/A). Trade Balance (Previous -1849M, Forecast -1805M).
• Thursday: Unemployment Rate (Previous 5.8%, Forecast 5.9%). Employment Change (Previous 24.5K, Forecast 5.0K).

CA:
• Monday: Building Permits (Previous 1.6%, Forecast 1.0%).
• Tuesday: Bank of Canada Rate (Previous 0.25%, Forecast 0.25%).
• Thursday: Trade Balance (Previous -0.9B, Forecast -0.7B)

Fundamental Forex Weekly Outlook by Forexpros
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A downward revision to the U.S. government's forecast for 2010 global demand growth also pressured crude.

The U.S. Energy Information Administration's monthly short-term outlook lowered its forecast for increased demand in 2010, and its forecast for OPEC and non-OPEC production was higher.

"People were looking for U.S. oil demand to be higher and so, with the cut in the EIA forecast and a smaller increase overall, that's a little disappointing," Mark Waggoner, president of Excel Futures in Huntington Beach, Calif.

Stocks fell on Tuesday after a disappointing outlook from 3M Co. (MMM, Fortune 500) and a second straight month of falling domestic sales at McDonald's Corp. (MCD, Fortune 500) triggered concern about consumer spending.