Forex Daily Outlook – June 24 2010

US Core Durable Goods Orders and US Unemployment Claims are the highlight of the day. Let’s review today’s activities:

In the US, The Core Durable Goods Orders measures the change in the total value of new orders for durable goods, excluding transportation appears to have considerable impact on the currency market expecting a rise of 2.2% from -1.1% in May while the less influential Durable Goods Orders is foreseen 3.8% drop from 2.8% in May.

More in the US, Unemployment Claims expected to go down by 11,000 following the unforeseen rise last week.

Finally in the US, Natural Gas Storage expected a drop 7B this week reaching 80B.

For more on USD/CAD, read the Canadian dollar forecast.

In Europe, French Consumer Spending believed to climb 1.5% from -1.2% in May. It seems like things start to brighten up for French consumers.

More in Europe, Industrial New Orders expected to drop to 1.6% from the 5.7% jump in the previous month.

Finally in Europe, Italian Retail Sales expected to decline by 0.6% reaching -0.1% and Italian Quarterly Unemployment Rate also support the retail sales decline by an increase forecast of 0.4%.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.

In Australia, CB Leading Index foreseen to remain 0.3% following the improvement in May.

For more on the Aussie, read the AUD/USD forecast.

In New Zealand, Trade Balance surplus continues to climb by 154B, reaching a fantastic figure of 810M which is great for market activity.

In Japan, Tokyo Core CPI expected to go up by 0.1% to -1.5% which correlates with the anticipated rise of 0.2% in the National Core CPI.

That’s it for today. Happy forex trading!

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