Forex Daily Outlook – February 8th 2010

Posted on February 7, 2010 by Yohay
Filed Under Daily Forex Forecast | Leave a Comment

The weeks starts with a light calendar, as the echoes of Friday’s Non-Farm Payrolls are still heard. Let’s see what’s up for today.

In Switzerland, the Unemployment Rate is predicted to edge up from 4.2% to 4.3%. This is a late and usually unsurprising event. The more important event is Retail Sales. After rising by an annual rate of 0.6% last month, this rise is expected to double to 1.3%.

In Europe, the Sentix Investor Confidence will probably remain negative, at -2.3 points, but this will be better than last month. EUR/USD starts the week in a bad position. Casey Stubbs discusses the brutal market for EUR/USD with his 4 hour charts. For more on the upcoming events in Euroland, check out my EUR/USD forecast.

In Canada, Housing Starts are predicted to edge up from 175K to 180K, continuing the positive trend. Later, BOC Deputy Governor Pierre Duguay will make a public appearance and might also shake the loonie.

For more on USD/CAD, read the Canadian dollar forecast.

That’s it for today. There’s lots more later in the week. Check out the weekly forex forecast.

Happy forex trading!

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