Forex Daily Outlook – June 26th 2009

Posted on June 26, 2009 by Yohay
Filed Under Daily Forex Forecast | Leave a Comment

A rather calm Friday is expected today, after the wild week. German CPI and American Personal Spending are the highlights today. Let’s see what’s up.

German Prelim CPI is collected from all the German states and is expected to rise by 0.1%. Also note the German Import Prices, which are expected to rise by 0.1%.

In Switzerland, the KOF Economic Barometer is predicted to show some easing, and rising from 1.86 to 1.77 points. Will the Swiss Franc remain weak? I think that the SNB’s intervention is temporary and provides an opportunity.

For more about it, read: Central Bank Intervention – Great Trade Oppurtunity.

In Britian, the Nationwide HPI is published, and it’s expected to show a drop of 0.4%. American housing hopes were hurt this week, with disappointing new and existing home sales. Will British HPI disappoint as well. For more the Pound’s week, read the British Pound Outlook.

In the US, Core PCE Price Index is predicted to rise by 0.1% after rising by 0.3% last month. Personal Spending is predicted to rise by 0.3%, after dropping by 0.1% last time.

Good data is expected from the University of Michigan: Revised UoM Consumer Sentiment is expected to improve from 69  in the initial reading to 69.2 this time.

It’ll be interesting to see how the loonie ends this week. During the week, USD/CAD broke the critical 1.1470 resistance line. After the break, it stopped to rest, but continues upwards. For more on the loonie, check out the Canadian dollar outlook.

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