Forex Daily Outlook – August 31 2010
U.S. Consumer Confidence, U.S. FOMC Meeting Minutes and Canada’s GDP are the major events on today’s menu. Here is an outlook on the market moving events awaiting us today.
In the US, Consumer Confidence Index forecasts a small increase in consumer confidence to 50.7 from 50.4 however an unexpected decline in the index would be possible due to the current deteriorating economic conditions.
More in the US, Federal Open Market Committee Meeting Minutes consisted of the Federal Board of Governors plus 5 of the 12 Federal Reserve Bank presidents set the key interest rates for the USA, and also control the money supply may have a smaller effect on the market since early information was already released in the FOMC Statements.
Finally in the US, S&P/CS Composite-20 HPI measuring change in the selling price of single-family homes in 20 metropolitan areas is forecasted 3.8% rise following 4.6% rise in June and Chicago Purchasing Managers’ Index a leading indicator of economic health expected to drop to 57.3 points after reaching 62.3 points in July.
In Canada, Gross Domestic Product, the main measure of economic activity and growth foreseen a modest growth in August by 0.2% m/m from the 0.1% m/m reading in July.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Unemployment Change released monthly predicted a positive change of 19K in the unemployed 1000 less than in June and also the best reading in five months.
More in Europe, Consumer Price Index Flash Estimate inflation indicator predicted to rise by 1.6% following 0.1% less than July.
Finally in Europe, Unemployment Rate in the Euro-Zone expected to remain 10.0%without change.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Net Lending to Individuals measuring change in the total value of new credit issued to consumers indicating rising confidence with a predicted rise of 0.7B following 0.6B in June.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, UBS Consumption Indicator combines reading of 5 economic indicators including consumer confidence, consumer spending, tourism, new car sales, and retail activity climbed to 1.81 points in June, a similar rise is expected now.
In Australia, Building Approvals an excellent gauge of future construction activity expected an improvement with a small drop of only 0.6% following three months of plunges 2.7% less than in June.
More in Australia, Retail Sales are also on the rise predicted an increase of 0.4% after only 0.2% in June and July.
Later in Australia, Current Account deficits expected an impressive reduction of 10.2B compared to the previous quarter resulting in 6.4B deficit this is the lowest reading since June 2009 and Private Sector Credit also increases by 0.3% 0.1% more than in the previous month.,
For more on the Aussie, read the AUD/USD forecast.
In Japan, Average Cash Earnings foreseen 0.9% rise 0.6% less than in the previous month.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – August 30 2010
A busy week begins with a busy day – US consumer spending is the highlight of today, amongst many releases from around the world. Will we see more devastating figures already today? Or will tension remain high until the Non-Farm Payrolls? Let’s see what’s up for today: In New Zealand, economic figures are released early [...]
Forex Daily Outlook – August 27 2010
U.S. Gross Domestic Product and Jackson Hole Economic Symposium are the main economic events of this trading weekend. Join us for an outlook on today’s market moving events. In the U.S., Gross Domestic Product, the main measure of economic activity and growth expected a modest growth of 1.5% in the 2nd quarter compared to 2.4% [...]
Forex Daily Outlook – August 26 2010
U.S. Unemployment Claims, Jackson Hole Economic Symposium and Japan’s CPI are the major events today. Here is an outlook on the activities ahead. In the US, Unemployment Claims rose sharply in August reaching 500K last week this is an ominous signal for the US economy, a drop to 486K is expected now.
Forex Daily Outlook – August 25 2010
Very interesting news and updates coming up today. New Home Sales in the US, Corporate Profits in Canada, Construction Work Done in Australia. Let’s see what awaits us today. In the Us, New Home Sales, an important gauge of housing market conditions measuring the number of newly constructed homes with a committed sale during the [...]
Forex Daily Outlook – August 24 2010
We have some interesting updates coming up today, Existing Home Sales in the US, Core Retail Sales in Canada, Inflation Expectations Percentage in New Zealand and more. Let’s see what awaits us today. In the US Existing Home Sales, the main gauge of the condition of the US housing market measuring the number of closed [...]
Forex Daily Outlook – August 23 2010
U.S. Federal Reserve Bank of Kansas President Thomas Hoenig testifies before the House Committee on Oversight and Investigations in Kansas and Euro-Zone Manufacturing and Services Purchasing Managers Indexes start the economic activities this week. Here is an outlook on today’s market moving events. In the US, Federal Reserve Bank of Kansas President Thomas Hoenig testifies [...]
Forex Daily Outlook – August 20 2010
We finish the week with some interesting news in Canada CPI, Ric Battellino speech in Redcliffe and more. Let’s see what awaits us today. In Canada, Core Consumer Price Index (CPI); the price of goods and services purchased by consumers, excluding the 8 most volatile items has decreased by 2% and Consumer prices account for [...]
Forex Daily Outlook – August 19 2010
Very busy day filled with interesting and varied news. Philly Fed Manufacturing Index in the US, James Bullard speaks in Arkansas, Retail Sales in Great Britain, , German PPI in Europe and more. Let’s see what awaits us today. In the US, Unemployment Claims, The number of individuals who filed for unemployment insurance for the first [...]
Forex Daily Outlook – August 18 2010
Some existing News in New Zealand regarding the PPI Input, in the US updates regarding the Crude Oil Inventories and more. Let’s see what awaits us today. In Great Britain Monetary Policy Committee Meeting Minutes, It’s a detailed record of the Bank of England (BOE), MPC’s most recent meeting providing in-depth insights into the economic [...]
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