Forex Daily Outlook – March 9th 2010
The dollar gained back some of the losses amid a light calendar. Also today, there aren’t any huge events, but there are some indicators that will move currencies. Let’s see what’s up for today.
British BRC Retail Sales Monitor began the day with a rise of 2.2%. This can hint about the official retail sales figure. The RICS House Price Balance was quite disappointing with a drop to 17%, half the expectations. More regions are reporting a drop in house prices.
Later in Britain, Trade Balance is expected to show a smaller deficit than beforehand, only 6.9 billion. For more on the Pound, read the GBP/USD forecast.
Australia’s ANZ Job Advertisements were excellent, rising by 19.1%. This is a volatile release (it fell by 8.1% last month), but the outcome gives a lot of hope for the official employment figures later in the week.
Also in Australia, the NAB Business Confidence rose from 15 to 19 points, also good for the Aussie. On the other side of the day, Westpac Consumer Sentiment will show how Australian consumers feel about the economy. For more on the Australian dollar, read the AUD/USD forecast.
In Japan, Leading Indicators jumped to 97.1%, exceeding expectations. Later in Japan, Core Machinery Orders are predicted to drop by 3.8% after a leap of 20.1% last time.
In Europe, the only indicator is French Trade Balance. The Euro/Dollar continues the range trading. For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
Also in the US, the only figure is IBD/TIPP Economic Optimism which is expected to rise. We have more interesting events tomorrow. Check out the forex weekly outlook for more.
That’s it for today. Happy forex trading!
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AUD/USD graph with support and resistance lines on it. Click to enlarge:
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Looking for the latest outlook, for the current week? Check out the section: AUD/USD Forecast
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The new week opens in the shadow of the Non-Farm Payrolls on Friday, which sent the dollar up. Ben Bernanke’s speech is the highlight of today, among other events. Let’s see what’s up for today:
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