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Forex Daily Outlook – March 24th 2009

Daily Look | | Last modified: Mar 22, 2009 19:28 GMT

The economic calendar is fully packed on Tuesday: PMI data from Europe, price information from Britain and many major speeches fill this day. Take a deep breath…

As the day starts in Greenwich, Japanese Monetary Policy Meeting Minutes will be published. After the Swiss and American moves to devalue their currencies, do the heads of BOJ also think of doing it?

Europe provides lots of data: French Consumer Spending is expected to fall by 1.1%, after last month’s rise of 1.8%.

At 8:00 GMT, PMI data will flood from Europe: first French Flash Manufacturing PMI (35) and French Flash Services PMI (40.2). At 8:30 GMT, Germany will also provide these figures: Manufacturing PMI is expected to stand at 32.1 and Services PMI at 41.2.

At 9:00, European Current Account will be published and is expected to show a deficit of 6.7 billion. At the same time PMI figures will be published for the whole of Europe: Flash Manufacturing PMI is expected to stay unchanged, at 33.5, while Flash Services PMI is expected to stand at 39.2.

After all these figures from Europe, it’s Britain turn: British CPI is predicted to rise by 2.6% (annually adjusted). A lower figure won’t be a big surprise. Core CPI is expected to show a smaller rise – of 1.3%.

Another interesting figure from the UK is BBA Mortgage Approvals which is predicted to stand at 22.3K. Also the Inflation Report Hearings will also be listened to by traders of the cable.

In the US, Federal Reserve Bank of Chicago President Charles Evans will talk and might relate to the FOMC’s sharp move to print money. This will be a warm up for Ben Bernanke’s testament. . This is a chance to explain the sharp move to print money. Traders will pay attention to this important event. 

Also in the US: HPI  is expected to be negative, falling by 0.7%. Richmond Manufacturing Index is expected to stay stable, at -52.

And the speeches aren’t over. There are three important speeches: BOE Governor Mervyn King is testifying before the House of Lords. SNB Governing Board Chairman Jean-Pierre Roth will also talk and might move the USD/CHF. And in Britain, External BOE MPC Member David Blanchflower will talk about the economy.

 

And just before the end of the day, Japanese Trade Balance will be published. Expectations are for a deficit of 0.28 trillion.

Happy Forex Trading!

Forex Daily Outlook – March 23rd 2009

The forex week starts with a rather relaxed day regarding economic indicators. Existing Home Sales will be the main event today.  Jean-Claude Trichet is in Mexico, and will speak about the financial crisis and commodity prices. Will he have something to say about Ben Bernanke’s huge dollar printing move? Will the ECB act on the Euro? In

Published by on Mar 23, 2009 02:01

Forex Daily Outlook – March 20th 2009

The forex market is still shaking from the FOMC statement that beat the US dollar. Today, A speech by Ben Bernanke will be closely listened to. In addition, there are a few other important indicators. In Europe, Industrial Production is expected to fall by 3.8% after dropping 2.6% last month. A higher drop than expected

Published by on Mar 20, 2009 02:22

Forex Daily Outlook – March 19th 2009

The Federal Reserve provided all the price action in the world with yesterday’s big announcement, and sent the dollar down, after the beatings it took earlier this week.. Today, the market might still feel aftershocks from yesterday, and might feel something from today’s economic calendar, with the US Unemployment Claims at the center. Here’s what’s

Published by on Mar 19, 2009 11:02
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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

Published by on Mar 18, 2009 02:22

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

Published by on Mar 17, 2009 02:02

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

Published by on Mar 13, 2009 02:22
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Forex Daily Outlook – March 12th 2009

The economic outlook for today is packed with data. Employment data in Australia, American Retails Sales and a new rate in Switzerland are the highlights for today. Let’s see what on the agenda, and there’s quite a bit. The day opens with strong figures from down under: Australian Employment Change is expected to fall by

Published by on Mar 12, 2009 02:12

Forex Daily Outlook – March 11th 2009

Wednesday features economic indicators from all over the globe, with British Trade Balance, Federal Budget Balance, Final GDP from Japan and a rate decision in New Zealand as the top indicators.  Australia starts the day with the important figure of Home Loans expected to rise by 4%, less than 6.4% in the previous month. In

Published by on Mar 11, 2009 02:23

Forex Daily Outlook – March 10th 2009

After Monday didn’t bring us much news but some fine breakouts, Tuesday has a wide range data, with British Manufacturing Production and a speech by Ben Bernanke as the highlights of the day. Let’s see what’s up. Right at midnight GMT, the beaten British Pound will get more news: BRC Retail Sales Monitor and RICS House Price Balance

Published by on Mar 10, 2009 02:20
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