Forex Daily Outlook – April 22nd 2010
A very busy day expects forex traders, Flash Manufacturing PMI and Services PMI influence on Europe; let’s see what’s awaiting us today.
Group of Twenty (G20); while it’s not an institution, the G20 is an influential global policy-making body operating at the highest level, and their initiatives and policies can impact the currency markets.
In the US, Producer Price Index (PPI); indicating change in the price of finished goods and services sold by producers, is expected to drop down by 0.2%. And Core Producer Price Index (PPI) is expected to follow.
Later in the US, Existing Home Sales, Annualized number of residential buildings that were sold during the previous month, is expected to rise by 0.26M, and the Unemployment Claims expected to drop down by 32K.
Finally in the US, President Barack Obama will speak about Wall Street Reforms at the Cooper Union, in New York;
In Canada, Bank of Canada (BOC) releases the Monetary Policy Report that provides valuable insight into the bank’s view of economic conditions and inflation. This is followed by a Press Conference. It’s among the primary methods the BOC uses to communicate with investors regarding monetary policy.
More in Canada – Leading Indicators, the change in the level of a composite index based on 10 economic indicators – will probably be similar this time.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, French Flash Manufacturing PMI and Services PMI are both expected to rise slightly. Then, German Flash Manufacturing PMI and Services PMI will probably remain almost unchanged. The all-European figure will complete the picture.
Also in Europe, ECB President Jean-Claude Trichet speaks; as head of the ECB, which controls short term interest rates, he has more influence over the euro’s value than any other person.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Public Sector Net Borrowing, Difference in value between spending and income for public corporations, is expected to rise up from 12.1B to 24.1 B – there are both debt and investment implications;
More in Great Britain, Retail Sales expected to drop off by 1.4%, It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity; good for currency.
Later in Britain, the relative level of order volume expected during the next 3 months; Level of a diffusion index based on surveyed manufacturers expected to be -32 in comparison to the previous -37
Finally in Britain, Number of new mortgages approved for home purchases during the previous month; expected to rise from 48K to 51 K
Read more about the Pound in the GBP/USD forecast.
In Switzerland, the Trade Balance value, difference in value between imported and exported goods during the reported month is expected by 0.5 B. Also note the Swiss ZEW Economic Expectations.
In Aussie, New Motor Vehicle Sales, Change in the number of new cars and trucks sold domestically will impact the currency.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Bank of Japan (BOJ) Governor Masaaki Shirakawa speaks. As head of the central bank, which controls short term interest rates, he has important influence over the nation’s currency value.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – January 28th 2010
Yet another busy day awaits forex traders. Economic indicators might be overshadowed by many political events today. Here’s what’s expecting us today: Apart from scheduled events, US President Barack Obama will make an important speech in his “State of the Union” address. He is expected to talk about the economy after one year in office. [...]
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After yesterday’s FOMC Statement, the markets start the day with a stronger dollar. American figures continue to dominate the scene today, with Unemployment Claims. A speech by Ben Bernanke can clarify yesterday’s cautious statement. Australia’s CB Leading Index rose by 0.7%, and last month’s fiugre was revised upwards. The Australian economy is doing better than [...]
Forex Daily Outlook – June 23th 2009
Economic indicators gear up today with many European PMI figures and American Existing Home Sales. After a strong start for the dollar, tension rises towards Wednesday’s FOMC Statement. The escalation in Iran also supports the greenback. The Iranian army has vowed to interfere to stop the protests, that haven’t stopped. The troubles in this oil [...]
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