Forex Daily Analysis – February 24th 2009
Posted on February 24, 2009 by Yohay
Filed Under Daily Forex Forecast | Leave a Comment
Tuesday features lots of economic figures. German Ifo Business Climate, British CBI Realized Sales and American CB Consumer Confidence stand out. Let’s dive into it…
In Europe, French Consumer Spending opens the day. Later on, at 9:00 GMT, the German Ifo Business Climate will shake the Euro. It’s expected to be stable, at 83.2 points.
Also Europe’s Current Account (-14.3 billion) will be of interest to traders. Another notable figure is the Industrial New Orders, expected to dive by 5.2%.
In Switzerland, where banks are exposed to Eastern Europe turmoil, Employment Level is published, and it’s expected to be stable at 3.91 million. The UBS bank, that has also been in the headlines lately, will release the UBS Consumption Indicator, which is also closely watched by traders of the chocola.
Economic indicators from Britain will start with the BBA Mortgage Approvals, expected to shrink yet again, to 20.2K. The Prelim Business Investment in Britain is predicted to plunge by 4.2%.
The main figure from Britain is the CBI Realized Sales. And also here, the figure will continue free falling, at -52. Last month it stood at -47.
CB Consumer Confidence will be dominant in the US, with yet another bad figure predicted – 35.5 points, less than last month’s 37.7.
At the same time, 15:00 GMT, Ben Bernanke will begin his testament in front of the Senate Banking Committee, in Washington DC. Hints about bank nationalization and the impact of Obama’s stimulus package will be closely listened to. Also Federal Reserve Governor Elizabeth Duke will be speaking on Tuesday.
Also New Zealand has it’s share in Tuesday’s figures, with Inflation Expectations.
And to close this busy day, Japanese Trade Balance will be released at 23:50 GMT.
Have a great day!
Enjoyed the post? You may want to subscribe by RSS feed or Email.Tags: BBA Mortgage Approvals,Ben Bernanke,CB Consumer Confidence,CBI Realized Sales,Consumer Spending,Current Account,Elizabeth Duke,Employment Level,IFO Business Climate,Industrial New Orders,Inflation Expectations,Prelim Business Investment,trade balance,UBS Consumption Indicator
Comments
Leave a Reply
Popular Forex Posts
Daily FX Headlines- Dollar Struggles Ahead of 2Q GDP – Fed Maintains Dovish Outlook July 29, 2010
- Using the Doji July 29, 2010
- Pound Could Falter As Risk Appetite and Interest Rate Expectations Stumble July 29, 2010
- GBP/USD Channel Provides Opportunity with Sterling Stretched July 29, 2010
- U.S. Dollar Forecast To Fall Further Against Euro, British Pound, and Japanese Yen July 29, 2010
Stay up to date!
-
-
