Forex Daily Outlook – February 19th 2009



Today’s main event already happened – the BOJ didn’t change interest rates, but made some interesting statements. Later today, American PPI and Unemployment Claims will be in the limelight. And of course, there’s always more data from all over the globe…

The BOJ left interest rates at 0.1%, as expected. The bank also stated that the economy was deteriorating at a high pace, and that it would spill about $10 billion into treasuries, in order to ease corporate financing. USD/JPY now trades at 93.54.

Swiss Trade Balance was surprisingly higher than expected: 2.03 billion. USD/CHF 1.1753, at the high end of trading in the past few weeks. Later in Switzerland: ZEW Economic Expectations.

Public Sector Net Borrowing will be in the limelight in Britain, expected to fall by 6.9 billion. Also from Britain, Prelim M4 Money Supply. GBP/USD now trades at 1.4268.

At 13:30 GMT, American Producer Price Index (PPI) is expected to stay almost unchanged, at 0.2%. The weekly Unemployment Claims is also expected to stay similar to last week: 620,000.

Also notable in the US: Core PPI, Philly Fed Manufacturing Index and CB Leading Index. 

The expected rise in Crude Oil Inventories  isn’t going to help the price of oil, that is seeing only one direction these days: down. 

And, for those of you that tune up to speeches, BOE Deputy Governor Sir John Gieve will talk today. After him, Federal Reserve Bank of Atlanta President Dennis Lockhart will also talk on the other side of the Atlantic.

Happy Forex Trading!


About

Yohay Elam – Founder, Writer and Editor

I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me.

Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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