Forex Daily Outlook – November 27th 2009
Posted on November 27, 2009 by Yohay
Filed Under Daily Forex Forecast | Leave a Comment
On Black Friday, the dollar continues to be in the black, following the present it got from the Dubai crisis. A second wave of weakness sweeps the dollar higher. The Yen has halted, after reaching 85. Not too many events today. Let’s see what’s up for today:
In Germany, Import Prices rose by 0.5%, 0.1% more than predicted, but this doesn’t help the Euro too much: EUR/USD is at 1.4850. The breakout to 1.5140 is forgotten.
Later in Europe, Consumer Confidence is predicted to remain at -18, still in the pessimistic zone.
In Switzerland, the KOF Economic Barometer is predicted to make a neat rise, from 1.45 to 1.85 points, and show the strength of the Swiss economy. USD/CHF, which went below parity just two days ago, is now quite far from it, at 1.0158.
In Canada, Current Account is expected to show a higher deficit, of 12.9 billion this time. The Canadian dollar doesn’t enjoy Russian transactions anymore, and USD/CAD is high, at 1.0731.
The Pound isn’t expecting any news today. GBP/USD is also suffering quite badly from the Dubai World crisis, with British banks having to cover the debt. GBP/USD is down to 1.6360. This follows the reality check for the Pound – the UK is still in recession.
That’s it for today. Happy forex trading, and happy shopping!
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