Forex Daily Outlook – March 17th 2010

Another busy day expects forex traders: a rate decision in Japan, employment figures in Britain and Ben Bernanke for dessert are among the events today. Let’s see what’s on the menu.

The most popular pair, EUR/USD, recently enjoyed some gains, but didn’t breach significant technical levels. I see it as a rise before the fall. What do you think? Anyway, let’s start the review:

Japan provides a strong start to the day with a rate decision. The Overnight Call Rate isn’t expected to move from 0.1%. It will be interesting to see how the Monetary Policy Statement will be: the wording will shake the yen. Afterwards, the BOJ will hold a press conference, and this will also shake the yen.

At the end of the day, Japan’s BSI Manufacturing Index is expected to rise to 15.3 points.

Busy day in Britain today: the Claimant Count Change is expected to show a rise of 8,700 jobs after a disappointing rise of 23,500 jobs last time. The Unemployment Rate, which relates to the month of January, is expected to remain unchanged at 7.8%.

At the same time, the MPC Meeting Minutes will be released. They’re expected to show if any of the bankers voted to expand the Quantitative Easing program, after 200 billion pounds were used.

For the Pound’s technical levels, read the GBP/USD forecast.

In Europe, the only event due today is a speech by Axel Weber, the leading candidate to replace Trichet as the president of the ECB. For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.

In Canada, Wholesale Sales are expected to rise by 0.6%, following a rise of 0.7% last month. The Canadian dollar holds on to its gains at the moment. For more, read the USD/CAD forecast.

In the US, producer prices will move the dollar. After a jump of 1.4%, PPI is expected to drop by 0.2% this time, indicating that no inflation is in the horizon. Also Core PPI is predicted to remain mild – a small rise of 0.1%.

One day after the rate decision, Ben Bernanke testify alongside Paul Volcker, a former head of the Federal Reserve, about the the central bank’s powers and the meaning for monetary policy. While the agenda isn’t rates, Bernanke can always shake the markets.

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

EUR/USD Outlook – March 15-19

EUR/USD made some gains, enjoying greenback weakness. The upcoming week contains 7 events that will move the Euro. Here’s an outlook for these events and an updated technical analysis for EUR/USD.
EUR/USD chart with support and resistance lines marked. Click to enlarge:

In the middle of the week, I wrote about bullish signs for the Euro within [...]

Forex Daily Outlook – March 12th 2010

Two American figures will be in the limelight todya: retail sales and consumer sentiment. In addition, we have employment figures from Canada and other events. Let’s see what’s up for today.
Up to now, this week saw tight trading, especially in the major pairs. Only the Aussie stood out with a break, enjoying good employment figures [...]

Forex Daily Outlook – January 21st 2010

Another busy day is due with Chinese figures in the limelight. Let’s see what’s up for today. Will the dollar continue raging?
EUR/GBP, which I’ve been following in the past week is definitely continuing the free fall, breaking more support lines on the way down. The main reason is the weakness of the Euro.

Forex Daily Outlook – December 9th 2009

The focus today will be on the British government’s Annual Pre-Budget Release, which is expected to encounter the huge deficit. We also have a rate decision from New Zealand among other events. Let’s see what’s up for today:
British figures start the day again: Nationwide Consumer Confidence is released 36 hours before the rate decision and [...]

EUR/USD Forecast – December 7-11

Looking for the latest outlook, for the current week? Check out the section: EUR/USD Forecast.
Jean-Claude Trichet laid out the first steps of the exit strategy from the crisis. The Euro didn’t manage to continue upwards, and was hit by the excellent American Non-Farm Payrolls. The upcoming week has a mix of indicators and speeches. Here’s [...]

Forex Weekly Outlook – December 7-11

Non-Farm Payrolls brought an excellent surprise to the dollar. In the upcoming week we’ll indeed see if the tables have turned. Rate decisions are expected this week in Britain, Switzerland, Canada and New Zealand. Also note employment figures in Australia and American Retail Sales to close the week. Thursday is an extremely crowded day. Here’s [...]

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