Forex Daily Outlook – August 9 2011

(ForexCrunch)- In the US, Federal Open Market Committee (FOMC) Statement, the main FOMC key tool regarding monetary policy. It forecast the interest rates and other policy measures.

Later in the US, Federal Funds Rate, scheduled 8 times per year to value the Interest rate used by the banks, 0.25% is predicted with no changes from the past times.

More in the US, Prelim Nonfarm Productivity, quarterly report to value the labor proficiency when producing services and goods, without farming industry is about to reduce to -0.6% from 1.8% on the last time. Meanwhile the Prelim Unit Labor Costs that measures the price businesses pay for labor is about to rise from 0.7% on the last time to 2.1%.

In Canada, Housing Starts, monthly indicator to measure new inhabited buildings under construction on the prior month; small reduce from 201K to 194K is predicted this month. Read more here…