Forex Daily Outlook – December 7th 2009
Posted on December 7, 2009 by Yohay
Filed Under Daily Forex Forecast | Leave a Comment
The new week opens in the shadow of the Non-Farm Payrolls on Friday, which sent the dollar up. Ben Bernanke’s speech is the highlight of today, among other events. Let’s see what’s up for today:
In Australia, ANZ Job Advertisements are expected to return to growth, in accordance with the rise in jobs. Official employment figures will be published later in the week.
For more on the Aussie, read the AUD USD forecast.
Swiss Retail Sales are expected to resume expansion, with an expected growth of 1.2%, following the 1.6% drop last month.
In Europe, Sentix Investor Confidence is predicted to improve to -4.1 points, still in the negative zone. German Factory Orders are also expected to rise, but in a more modest pace than last month – only 0.6%.
Jean-Claude Trichet, the president of the ECB, will make two public appearances. The first is at a conference in Paris, and the second is more important: an official testimony in the European parliament. He might detail on the exit strategy that began last week.
For more on the Euro, read the EUR/USD forecast.
In Canada, Building Permits are predicted to rise by 1.1%, following a 1.6% rise last time. Canada’s housing sector has improved in recent months. For more on the loonie’s weeek, which includes a rate decision, read the USD/CAD forecast.
Ben Bernanke always shakes the markets when he makes a public appearances. This is his first public appearance after the excellent Non-Farm Payrolls, and he might hint something about a rate hike – something the market is expecting.
Later in the US, Consumer Credit is expected to squeeze. In Japan, the Current Account is predicted to drop to 1.59 trillion Yen, and the M2 Money Stock is expected to rise.
That’s it for today. There are lots of events ahead. Check out the forex weekly forecast for more.
Enjoyed the post? You may want to subscribe by RSS feed or Email.Tags: ANZ Job Advertisements,AUD USD,Ben Bernanke,Building Permits,Consumer Credit,Current Account,ECB,EUR/USD,Factory Orders,forex trading,Jean-Claude Trichet,M2 Money Stock,Non-farm payrolls,Retail Sales,Sentix Investor Confidence,USD/CAD
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