Forex Daily Outlook – September 2 2010

U.S. Unemployment Claims, U.S. Pending Home Sales and the Euro-zone GDP are at the front of the news. Here is an outlook on all market moving events awaiting us today.

In the US, Unemployment Claims was lower than expected in the previous week with 473K a rise of 3000 to 476K is expected now.

More in the US, Non-farm business sector labor productivity decreased at a 0.9 percent annual rate during the second quarter of 2010 a further decline of 1.9% is expected in the third quarter and Revised Unit Labor Costs are predicted to rise 1.3% from 0.2% in the previous quarter in relation to productivity since a drop in a worker’s productivity is equivalent to a rise in their wage.

Later in the US, Pending Home Sales forecasted to edge down 1.3% following 2.6% drop in June and 30.0% in May after a popular tax credit expired at the end of April continuing the gloomy situation in the housing industry.

Federal Reserve Chairman Ben Bernanke testifies on the causes of the recent financial and economic crisis before the Financial Crisis Enquiry Commission, in Washington. Interest rates could be affected and information revealed on future monetary policy.

Finally in the US, Factory Orders predicted to rise 0.4% after 1.2% decline in June and Natural Gas Storage expected to rise by 16B reaching 56B compared to the last week.

In Europe, Euro-zone Gross Domestic Product, the main measure of economic activity and growth expected to grow by 1.0% q/q in Q2 2010, as shown by the preliminary estimate.
More in Europe, Central Bank Interest Rate Announcement, in the midst of a global slowdown and with the sovereign debt problems in the Euro-zone, the European Central Bank would not raise rates until next year.

Finally in Europe, Producer Price Index has a mute effect since released after Germany and France PPI, expected 0.2% rise 0.1% less than in the previous month.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.

In Great Britain, Nationwide House prices Index a leading indicator of the housing industry’s health expected to drop 0.3% following 0.5% drop in July and Construction PMI predicted to drop 0.6 points compared to July reaching 53.5 points.

More in Great Britain, Halifax House prices Index a leading indicator of the housing industry’s health increased by 0.6% in July.  This modest rise offset the 0.6% fall in June and is likely to increase this time as well.

Read more about the Pound in the GBP/USD forecast.

In Switzerland, Retail Sales the primary gauge of consumer spending, forecasted to continue its rise by 2.3% after 1.0% rise in June and encouraging sign for the Swiss economy and Gross Domestic Product also predicted to rise by 0.8% following a smaller than expected rise of 0.4% in the previous quarter.

In Australia, Trade Balance surplus is expected to reach 3.11B 0.43B less than the impressive rise in June.

More in Australia, AIG Services Index based on a survey of about 200 service-based companies reached 46.6 points in July and is expected a small rise now.

For more on the Aussie, read the AUD/USD forecast.

In Japan, Japan Capital Spending a leading indicator of economic health , expected to further improve to -6.6% in the 2Q from -11.5%.

That’s it for today. Happy forex trading!

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.

AUD/USD Outlook – August 30 – September 3

A very busy week expects Aussie traders, with GDP and 12 other events to rock the currency, that still shakes by the election results. Here’s an outlook for the Australian events and an updated technical analysis for AUD/USD. AUD/USD daily chart with support and resistance lines marked. Click to enlarge: The elections ended in a [...]

Forex Daily Outlook – August 3 2010

U.S. Pending Home Sales, Core PCE and Factory Orders are the major events on our menu. Here is an outlook on today’s market moving events. In the US,  Pending Home Sales measuring the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction predicted a [...]

AUD/USD Outlook – August 2-6

A very busy week expects Aussie traders, with the rate decision standing in the limelight. Here’s an outlook for the 13 events that will rock the Aussie, and an updated technical analysis for AUD/USD. AUD/USD daily chart with support and resistance lines on it. Click to enlarge: The quarterly release of CPI was weak in [...]

AUD/USD Outlook – July 5-9

This is a very busy week for Aussie traders: a rate decision and employment figures will rock the Aussie, alongside other events. Here’s an outlook for these events as well as an updated technical analysis for AUD/USD. AUD/USD daily graph with support and resistance lines on it. Click to enlarge: The Chinese move on the [...]

Forex Daily Outlook – July 5 2010

Exiting news to start the week, in Britain interesting raises in House Price Index; in Australia Job Advertisements and in New Zealand Survey of Business Opinion showing optimism. let’s see what await us today. In Europe, Retail Sales monthly report that measures the change in the total value of inflation-adjusted sales at the retail level [...]

Forex Daily Outlook – June 2 2010

US Pending Home Sales and Australia’s GDP are the major events this day. Let us see what awaits us today In the US, Pending Home Sales is expected to drop from 5.3% to 4.8% after the upswing of March and April.

AUD/USD Outlook – May 31 – June 4

A very busy week expects Aussie traders: a rate decision, the GDP release and 11 more events will shake the Australian dollar. Here’s an outlook for the Australian events and an updated technical analysis for AUD/USD. AUD/USD graph with support and resistance lines marked. Click to enlarge: The Australian dollar enjoyed a significant recovery this [...]

Forex Daily Outlook – May 4 2010

U.S. Pending home sales and factory orders reports are expected to drop while in Britain, optimistic winds before the upcoming political elections. Let’s see what awaits us today. In the US, Pending Home Sales excluding new construction is expected to go down from 8.2% to 3.3%, a temporary setback from the nice rise from last [...]

AUD/USD Outlook – May 3-7

A very busy week expects Aussie traders with the rate decision is the key event. Here’s an outlook for the 11 Australian events, and an updated technical analysis for AUD/USD. AUD/USD graph with support and resistance lines marked. Click to enlarge: Producer prices rose by 1%, higher than expected, but consumer prices rose exactly as [...]

keep looking »

  • Forex Crunch

    Forex Crunch is a blog all about the foreign exchange market. It includes and will include: tutorials, basics of the forex market, daily and weekly forex analysis, technical analysis, forex software posts, and whatever is related to Forex. Forex Crunch aims to deal with forex trading, but with a more personal touch. More...

  • Stay up to date!

    Subscribe By Email

    Enter your email address:


    Trade together with Currensee

    Search

  • Forex Crunch Pages

  • Forex Categories

Bad Behavior has blocked 2059 access attempts in the last 7 days.