Archive for March, 2009
Forex Daily Outlook – March 18th 2009
Big day today in Forex: Both Japan and the US announce new interest rates, which aren’t expected to change. The statements from both central banks will be interesting to watch. There are lots more major economic indicators. Let’s review them. Japan starts the day with the aforementioned new Overnight Call Rate. This will accompanied by an
Has American Housing Reached the Bottom?
Housing Starts and Building Permits were better than expected in the US. The real estate market, that began the crisis with the subprime crisis, might start to stabilize, giving new hope for the greenback. Building Permits rose by 3% to 547K (annually adjusted). This was the first good surprise. Expectations were for 500K. And the
Forex Daily Outlook – March 17th 2009
Lots of important figures are released around the globe. German ZEW Economic Sentiment and American Building Permits stand out. So, what’s on the menu? Will the dollar continue falling? Australia starts the day with the Monetary Policy Meeting Minutes. It will be interesting to look into the minds of the RBA members, when they took a surprising (some
Dollar Falls on China Debt Fears, Toxic Asset Plans
The US dollar is falling across the board at the beginning of the new forex week. This happens against all the currencies, except the Yen of course. Toxic Asset Plan by Geithner and China Debt Fears are driving the dollar down. The forex week began with a weakening of the US dollar: it lost ground
Forex Daily Outlook – March 16th 2009
The week starts with CPI in Europe, American Empire State Manufacturing Index, TIC Long-Term Purchases (amidst serious debt fears) and a few other interesting economic releases. Let’s take a look… British Rightmove HPI rose by 0.9%. This surprising rise in house prices isn’t common in Britain. GBP/USD now trades at 1.4070 In Europe, CPI is expected to rise
Danger for Dollar After Obama Relates to Treasuries
President Barack Obama publicly addressed China’s deep concerns to America’s ability to pay its debt. American debt has become scary to everyone. Chinese Prime Minister Wen Jiabao publicly asked if America could pay back its debt. China is biggest holder of US treasuries, and its hundreds of billion of dollars. With the growing debt, and
Forex Weekly Outlook – March 16-20 2009
The upcoming week in forex features interest rate decisions from the US and Japan, amidst worries from both sides of the Pacific. In addition, German ZEW Economic Sentiment and American Building Permits will be watched on Tuesday, Claimant Count Change in Britain on Wednesday, Unemployment Claims on Thursday, and Canadian Core Retail Sales on Friday. Let’s look at the upcoming week.
Forex Links for the Weekend – March 14 2009
Here are some very interesting reads that I’ve gathered this week from blog / sites that I like and read regularily: FX360 talks about the G20 summit in Sussex, reviewing past G20 and G7 meetings. Lena seeks a breakout in the most popular pair, EUR/USD. FX Instructor makes a good technical summary on the same pair:
AUD/USD Broke Upwards As Expected
AUD/USD broke the narrowing channel I was talking about two days ago and made an upward break. Very close to the end of the week, it trades higher and aims for new targets. AUD/USD long is live and kicking. On March 11th, I wrote that AUD/USD is squeezed in a narrowing channel, and that the
Forex Daily Outlook – March 13th 2009
Friday the 13th is here again, and it focuses on North America: Employment data from Canada, Trade Balance in both countries and Prelim UoM Consumer Sentiment in the US dominate the day. There are other figures, and it’s also the first day of the G20 summit in Sussex. Early in the morning, Japan releases some economic