Forex Daily Outlook – August 31 2010
U.S. Consumer Confidence, U.S. FOMC Meeting Minutes and Canada’s GDP are the major events on today’s menu. Here is an outlook on the market moving events awaiting us today.
In the US, Consumer Confidence Index forecasts a small increase in consumer confidence to 50.7 from 50.4 however an unexpected decline in the index would be possible due to the current deteriorating economic conditions.
More in the US, Federal Open Market Committee Meeting Minutes consisted of the Federal Board of Governors plus 5 of the 12 Federal Reserve Bank presidents set the key interest rates for the USA, and also control the money supply may have a smaller effect on the market since early information was already released in the FOMC Statements.
Finally in the US, S&P/CS Composite-20 HPI measuring change in the selling price of single-family homes in 20 metropolitan areas is forecasted 3.8% rise following 4.6% rise in June and Chicago Purchasing Managers’ Index a leading indicator of economic health expected to drop to 57.3 points after reaching 62.3 points in July.
In Canada, Gross Domestic Product, the main measure of economic activity and growth foreseen a modest growth in August by 0.2% m/m from the 0.1% m/m reading in July.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Unemployment Change released monthly predicted a positive change of 19K in the unemployed 1000 less than in June and also the best reading in five months.
More in Europe, Consumer Price Index Flash Estimate inflation indicator predicted to rise by 1.6% following 0.1% less than July.
Finally in Europe, Unemployment Rate in the Euro-Zone expected to remain 10.0%without change.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Net Lending to Individuals measuring change in the total value of new credit issued to consumers indicating rising confidence with a predicted rise of 0.7B following 0.6B in June.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, UBS Consumption Indicator combines reading of 5 economic indicators including consumer confidence, consumer spending, tourism, new car sales, and retail activity climbed to 1.81 points in June, a similar rise is expected now.
In Australia, Building Approvals an excellent gauge of future construction activity expected an improvement with a small drop of only 0.6% following three months of plunges 2.7% less than in June.
More in Australia, Retail Sales are also on the rise predicted an increase of 0.4% after only 0.2% in June and July.
Later in Australia, Current Account deficits expected an impressive reduction of 10.2B compared to the previous quarter resulting in 6.4B deficit this is the lowest reading since June 2009 and Private Sector Credit also increases by 0.3% 0.1% more than in the previous month.,
For more on the Aussie, read the AUD/USD forecast.
In Japan, Average Cash Earnings foreseen 0.9% rise 0.6% less than in the previous month.
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.
Forex Binary Options Setups – August 30 – September 3
Non-Farm Payrolls, GDP releases, consumer confidence and many more high risk news event provide opportunities for binary options on currencies. Here are potential setups for forex this week. Binary options can be utilized as an alternative to the traditional stop loss, as a tool for protecting against false breakouts and lots more. One-hour binary options [...]
Forex Daily Outlook – August 2 2010
We start the week with a variety of news, starting in the US with Chairman Ben Bernanke & President Timothy Geithner speeches, Manufacturing updated in Europe and UK and more interesting updates. Let’s see what awaits us today. In the US, Federal Reserve Chairman Ben Bernanke deliver a speech titled “Challenges for the Economy and [...]
Forex Daily Outlook – June 30 2010
American ADP Non-Farm Payrolls, Canada’s GDP, British Final GDP, Swiss KOF Economic Barometer and Japan’s Tankan Manufacturing Index make the current headlines. Let’s review today’s activities. In the US, American ADP Non-Farm Payrolls: The report for the private sector is sometimes called the “mini Non-Farm Payrolls”. In many months, it didn’t predict the direction of [...]
Forex Daily Outlook – May 31 2010
The week begins with several important events, despite a holiday in the US and Britain. Canada’s GDP and a speech from Trichet are the highlights of the day. Japan’s Prelim Industrial Production rose by 1.3%, half of early expectations that stood on 2.6%. This weakens the yen – USD/JPY is making an upwards move. There’s [...]
Forex Daily Outlook – April 30 2010
Moderate changes in the major indexes are foreseen in the U.S. and European markets. The GDP and Employment Cost Index in the U.S. open today’s report. Let’s see what awaits us today. In the US, Advance Gross Domestic Product (GDP), is the earliest GDP release, measuring the annualized change in the inflation-adjusted value of all [...]
Forex Daily Outlook – March 31st 2010
American ADP payrolls, factory orders, Canadian GDP and the important Japanese Tankan indicator are the highlights of a very busy day n forex trading. There are many more events from all over the world. Let’s see what’s up for today. Australia provides a strong start to the day with two major releases: Retail Sales, which [...]
Forex Daily Outlook – March 3rd 2010
Today’s highlights are the Australian GDP and American ADP Non-Farm Payrolls, which will raise the tension towards Friday’s big event. Let’s see what’s up for today. The low expectations for Friday’s Non-Farm Payrolls are favorable for the dollar. Here’s my Non-Farm Payrolls preview. Let’s start today’s review:
Forex Daily Forecast – November 30 2009
The new forex trading week starts off with the Dubai crisis still looming. Canadian GDP, and European inflation will stand out in day with events from all over the world. Let’s see what’s up for the last day of November. Arabic version of this post In New Zealand, Building Consents are expected to continue rising [...]
Forex Daily Outlook – November 2nd 2009
This busy week began with a small retreat by the dollar. Will it continue? Or will last week’s fear resume? Today’s Pending Home Sales and ISM Manufacturing PMI are in the limelight today. Let’s see how this week begins: In Australia’ the AIG Manufacturing Index dropped modestly to 51.7. The more interesting MI Inflation Gauge [...]
keep looking »Popular Forex Posts
Daily FX Headlines- Forex Strategy Corner: Bollinger Bands Techniques for Trading September 2, 2010
- EUR/USD: Trading the Change in U.S. Non-Farm Payrolls September 2, 2010
- US Dollar Forex Options Sentiment Points to Pullbacks September 2, 2010
- The FX Market has now Entered the Pull of Friday NFPs September 2, 2010
- British Pound Forecast to decline Against Japanese Yen September 2, 2010
-
Stay up to date!
-
-
