Forex Daily Outlook – August 24 2010
We have some interesting updates coming up today, Existing Home Sales in the US, Core Retail Sales in Canada, Inflation Expectations Percentage in New Zealand and more. Let’s see what awaits us today.
In the US Existing Home Sales, the main gauge of the condition of the US housing market measuring the number of closed sales of previously constructed homes, condominiums and co-ops, that triggers a wide-reaching ripple effect. The sales of existing homes are expected to expose more weakness in the US housing market with up to 7.2% drop and 4.63 M homes sold in July from 5.37 M in June.
In the US, Richmond Manufacturing Index, Monthly Survey of about 100 manufacturers in the Richmond area which asks respondents to rate the relative level of business conditions including shipments, new orders, and employment, indicates improving conditions with 14 points.
In Canada, Core Retail Sales, the total value of sales at the retail level, excluding automobiles, increased by 0.2%. Automobile sales account for about 20% of Retail Sales that increased by 6%, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends;
More in Canada, Bank of Canada (BOC), Deputy Governor John Murray delivers a speech titled “Re-examining Canada’s Monetary Policy Framework: Recent Research and Outstanding Issues” at the Canadian Association for Business Economics, in Kingston; and influence the future monetary policy;
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Industrial New Orders, the total value of new purchase orders placed with manufacturers decreased by 2.2%. a leading indicator of production.
Also in Europe, Belgium National Bank of Belgium (NBB); Business Climate, Monthly Survey of about 6,000 businesses which asks respondents to rate the relative level of current business conditions and expectations for the next 6 months, increased by 0.4%, it’s a leading indicator that can be an early signal of future economic activity such as spending, hiring, and investment.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, British Bankers’ Association (BBA); Mortgage Approvals, the Number of new mortgages approved for home purchase by BBA-represented banks during the previous month decreased by 0.5%. It’s a leading indicator of housing market, so it provides an excellent gauge of how many qualified buyers are entering the market.
Read more about the Pound in the GBP/USD forecast.
In New Zealand, Inflation Expectations Percentage that business managers expect the price of goods and services to change annually during the next 2 years stabilized on 2.8%, and expectations of future inflation can manifest into real inflation.
In Japan, Trade Balance of the difference between imported and exported goods. The Japanese trade surplus is forecasted to show a minimal increase to 470 B yen from 460 B in the previous month, but a decline in exports would signal that the Japanese economic recovery could be losing momentum.
More in Japan, Corporate Services Price Index (CSPI); the price of services purchased by corporations decreased by 0.8%, It’s a leading indicator of consumer inflation, the higher costs are usually passed on to the consumer.
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 Daily Outlook – July 23 2010
Canada’s Core CPI, Europe’s Bank Stress Test Results and other optimistic forecasts close another trading week. Here is an outlook on today’s economic events. In Canada, Core CPI expected 0.1% rise following 3.0% rise in the past two months while CPI is expected a 0.2% dip following 3.0% rise last month. For more on USD/CAD, read [...]
Forex Daily Outlook – June 23 2010
Today’s highlight is the FOMC statement that accompanies the American rate decision, followed by GfK German Consumer Climate in Europe and more exciting news. Let’s see what awaits us today. In the US, New Home Sales expected to drop 69K this month reaching 435K after the sharp rise in May’s report.
Forex Daily Outlook – May 26 2010
US Federal Reserve Chairman Ben Bernanke delivers a speech in Tokyo, US Core Durable Goods Orders are expected to drop while Durable Goods Orders are expected to rise and New Home Sales are expected to edge up this month. Let us see what awaits us today In the US, Federal Reserve Chairman Ben Bernanke delivers [...]
Forex Daily Outlook – April 23rd 2010
American home sales on the rise, the international G20 meeting with a closing speech from US Treasury Secretary Timothy Geithner together with other encouraging news from around the world sum up this week. Let’s see what’s up for today. In the US, New Home Sales, annualized number of new single-family homes that were sold during [...]
EUR/USD Outlook – November 23-27
Looking for the latest outlook, for the current week? Check out the section: EUR/USD Forecast. EUR/USD showed us what range trading is in the past week, moved also by Jean-Claude Trichet. He will speak again in the upcoming week, and there are plenty of other events in the Euroland. Here’s an outlook for the upcoming [...]
Forex Daily Outlook – July 23rd 2009
Busy day today with American Existing Home Sales and Unemployment Claims dominating the scene. Also note the British Retail Sales. And there’s lots more. Let’s see what’s on the menu: In Australia, RBA Assistant Governor Dr. Guy Debelle will speak also today, and might move the Aussie. European Current Account is predicted to remain negative, but [...]
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!
-
-
