Forex Daily Outlook – March 11th 2010
The calendar is crowded today with major releases: Australian jobs, a rate decision in Switzerland and important figures in the US are the highlights today. Let’s see what’s up.
As seen in the Non-Farm Payrolls and also beforehand, the commodity currencies continue to show strength while the Euro and the Pound are weak. This will probably continue, although the Euro seems to be stabilizing.
After making a move upwards, Australia provides a strong start for the day. MI Inflation Expectations provide a warm up hinting about inflation. The main course is the employment data: Australia’s Employment Change is expected to show a gain of 15.3K jobs and the Unemployment Rate is expected to remain stable at 5.3%.
Note that these figures were better than expected for four straight months. The expectations were modest, like this time, and the result was better. Will it happen again? For the Aussie’s technical levels, check out the AUD/USD forecast.
In Europe, France begins the day with the release of the final Non-Farm Payrolls for Q4. The drop of 0.4% is expected to be confirmed. Later in Europe, the ECB Monthly Bulletin will provide an indicator about the whole region.
The Euro’s technical situation is stabilizing. Will it rise? Check out more on the Euro in the EUR/USD forecast, and in Casey Stubbs’ latest analysis.
British Consumer Inflation Expectations are expected to rise, as the inflation rises in Britain. The Pound is sliding down once again, after another credit warning from Fitch.
The Pound’s greater limits remain 1.4770 and 1.5350. It sticks to this range at the moment. Read more in the GBP/USD forecast.
In Switzerland, the central bank will announce a new interest rate. The SNB will probably leave the Libor Rate unchanged at 0.25%. The wording of the SNB Monetary Policy Assessment will shake the Swissy for sure. What’s never sure is the actions of the bank. At the same time last year, they intervened immediately after the rate decision. While these interventions are short-lived, they can throw traders out of their positions.
Moving to North America, Canada’s Trade Balance is expected to shift from a deficit to a surplus of 0.4 billion. The American Trade Balance will be released at the same time and will probably show the same deficit as last month – 40.2 billion.
At the same time, 13:30 GMT, American Unemployment Claims are released. They’re expected to drop from 469K to 453K, still within the same range as in recent weeks. This is the first jobless claims release after the NFP, and it will probably move the markets.
Canadian events aren’t over: the NHPI (New Housing Price Index) is predicted to rise by 0.5%, similar to the previous month. Later in Canada, BOC governor Mark Carney will make a public appearance and can also move the loonie.
USD/CAD is struggling to break below 1.02. This 2009 low is a tough and critical spot. For more on the Canadian dollar, read the USD/CAD forecast.
In New Zealand, the day after the rate decision brings another significant release: retail sales. After remaining unchanged last month, they’re expected to rise by 0.3% this time.
That’s it for today. Happy forex trading!
Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.
Forex Daily Outlook – March 10th 2010
After two light days, today’s calendar is quite busy: a rate decision in New Zealand and the Federal Budget Balance are the highlights. Let’s see what’s awaiting us toady.
We’ve already see one hesitant break of the Australian dollar and we’ve seen the USD/CAD edge down, still not breaking 1.02. In these currencies, the action will [...]
Forex Daily Outlook – March 9th 2010
The dollar gained back some of the losses amid a light calendar. Also today, there aren’t any huge events, but there are some indicators that will move currencies. Let’s see what’s up for today.
British BRC Retail Sales Monitor began the day with a rise of 2.2%. This can hint about the official retail sales figure. [...]
Forex Daily Outlook – March 8th 2010
The week starts without major releases. German industrial production and Swiss retail sales will stand out. Here’s the daily outlook.
Note that the weak, yet expected Non-Farm Payrolls will still echo in the markets. The dollar enjoyed some strength against the majors last week but lost ground to the commodity currencies. OK, let’s see the events:
Forex Daily Outlook – March 5th 2010
In the last day of the week, the scene is clear for the king of forex – Non-Farm Payrolls. Let’s see what it’s expected to bring us, and what other events are out there.
Trading during this day, and especially around the release is different than normal days. The markets trade in high volatility. I recommend [...]
Forex Daily Outlook – March 4th 2010
Tension rises in the forex market as the calendar is very busy today. The highlights are rate decisions in Europe and Britain, plus a busy American calendar. Let’s see what’s awaiting us today.
Tension also comes from a possible resolution to the Greek crisis (although fragile), and the hints towards the big event on Friday: Nonfarm [...]
Forex Daily Outlook – March 3rd 2010
Today’s highlights are the Australian GDP and American ADP Non-Farm Payrolls, which will raise the tension towards Friday’s big event. Let’s see what’s up for today.
The low expectations for Friday’s Non-Farm Payrolls are favorable for the dollar. Here’s my Non-Farm Payrolls preview. Let’s start today’s review:
Popular Forex Posts
Daily FX Headlines- An SSI Trade March 10, 2010
- Australian Dollar Continues to Firm 03-10 March 10, 2010
- Light Crude 03-10 March 10, 2010
- Gold 03-10 March 10, 2010
- New Zealand Dollar Outperforms Ahead of RBNZ Rate Decision, Japanese Yen Pares Two-Day Rally March 10, 2010
Stay up to date!
-
-
