Forex Daily Outlook – August 11 2010
U.S. and Canada’s Trade Balance followed by British Jobless Claims are the major activities today. Here is an outlook on the market moving events.
In the US, American Trade Balance deficit is expected to decrease from 42.3B to 42.0B following the worse than expected deficit increase in May.
More in the US, Federal Budget Balance, Following a cutback to 68.4B in the government’s deficit in the previous month a huge increase to 167.6B is expected badly affecting the US dollar.
Finally in the US, Crude Oil Inventories decreased by 2.8M last week and are expected to decline further in the next few months.
In Canada, Trade Balance surplus of 0.4B is expected now following a deficit of 0.5B in May Canaca’s return to Trade Balance surplus will strengthen CAD.
For more on USD/CAD, read the Canadian dollar forecast.
In Great Britain, Jobless Claims expected to improve the labor market conditions by dropping to 17.4K whilt the Unemployment rate is expected to remain 7.8%.
Later in Great Britain, Bank of England Governor Mervyn King holds a press conference, along with other MPC members, about the Inflation Report, in London will impact interest rates.
More in Great Britain, Average Earnings Index a leading indicator of consumer inflation is predicted to rise by 1.1% following a worse than expected rise of 2.7% in the previous month.
Read more about the Pound in the GBP/USD forecast.
In Australia, Westpac Consumer Sentiment index based on a survey of about 1,200 consumers which asks respondents to rate the relative level of past and future economic conditions, employment, and climate for major purchases increased by 11.1% in July following three months of decreases. A further increase is expected now.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Business NZ Manufacturing Index edged up by 2.2 points last month a further rise is expected now and Food Price Index also experienced a 1.3% rise in June and is predicted to rise again.
In Japan, Bank of Japan’s Monthly Report is released contains the statistical data that the BOJ Policy Board members evaluated when making the latest interest rate decision, and provides detailed analysis of current and future economic conditions from the bank’s viewpoint.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – July 16 2010
US Consumer Price Index, US Long-Term Purchases and US Consumer Sentiment highlight today’s events and wrap up another busy trading week. Here is an outlook on the events at hand. In the US, Consumer Price Index, the main measure of inflation in the world’s largest economy recently showed subdued inflationary pressures in the U.S., but [...]
Forex Daily Outlook – June 16 2010
US Building Permits and PPI are released, Federal Reserve Chairman Ben Bernanke speaks in New York and Capacity Utilization Rate is expected to grow. Let’s see what’s awaiting us today. In the US, Building Permits expected to rise this month by 20,000 units following the unpredicted drop to 0.61M in the previous month while Housing [...]
Forex Daily Outlook – May 24 2010
In the US a rise in the Existing Home Sales, and Sandra Pianalts (US) and Speaks at the Ohio Northern University, in Great Britain Adam Posen speeches are affecting the nation’s key interest rates. Let’s see the other interesting news up for today In the US, Existing Home Sales, date about home resales that released [...]
Forex Daily Outlook – April 8th 2010
A very busy day expects forex traders: rate decisions from Europe and Britain, Australian employment figures and the weekly jobless claims are the highlights. Let’s see what’s up. The Canadian dollar doesn’t receive any figures today, but it will still draw attention. USD/CAD parity is here for the first time in 20 months, and it [...]
Forex Daily Outlook – March 18th 2010
Many American figures are due today, so lots of action is awaiting us. Will the dollar continue to weaken? Let’s see what’s up for today. EUR/USD hasn’t broken the critical 1.3850 level. I still claim that the current rise is temporary before the fall. GBP/USD made it above the critical line of 1.5350, but has [...]
Forex Daily Outlook – January 27th 2010
Another busy day is awaiting forex traders, with a rate decision in the US being the highlight. There are important figures today from all over the world. Let’s see what’s up for today. Apart from the scheduled releases, note that the World Economic Forum talks start today in Davos, Switzerland. Statements from there can move [...]
Forex Daily Outlook – December 21st 2009
The short Christmas week starts with a light calendar. Canadian retail sales are the only major event. Will the dollar continue to rage? Japanese Trade Balance starts the day with an expected drop in the surplus. Later in Japan, the BOJ Monthly Report will give a broad view of the economy. Arabic version of this [...]
Forex Daily Outlook – November 24th 2009
After some dollar weakness but continuing range trading, at least for EUR/USD, an extremely busy day expects traders: revised GDP in the US, and Germany are only a few of the upcoming events in this long day. Here’s the (long) daily outlook: Japan’s BOJ Monthly Report starts the day, with an insight into the economy. [...]
Forex Daily Outlook – October 15th 2009
CPI figures from Europe and from the US dominate the scene today, as the US dollar continues to go downhill. Will the fall continue? Let’s see what will impact trading today: Australia’s MI Inflation Expectations remained on 3.5%, exactly like last month. Glenn Stevens, governor of the RBA, hinted that more rate hikes are underway. [...]
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