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 a hard time holding to its gains. OK, let’s start the review:
After the Bank of Japan introduces more easing measures, it will publish the BOJ Monthly Report which might provide more overview on the Japanese economy.
In Europe, the Current Account is expected to rise from 1.9 to 2.9 billion. While this is good news for the Euro, it will probably not take it over the top – over 1.3850. Later in Europe, Trade Balance is predicted to show a smaller surplus – 5.1 billion.
For more, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Switzerland, quarterly industrial production is expected to rise by 5.1%, after a 3.4% rise last time. This will probably boost the Swissy. Later, the Swiss ZEW Economic Expectations figure is expected to stay around last month’s number – 52.5 points.
In Britain, Public Sector Net Borrowing is expected to jump from 4.3 to 14.6 billion, weighing on the Pound. Later, CBI Industrial Order Expectations are predicted to edge up from -36 to -33 points,
External BOE MPC Member Andrew Sentance will make a public appearance and could also move the Pound. For more, read the GBP/USD forecast.
Canadian Foreign Securities Purchases were better than expected in previous months, with over 11 billion last month. This shows confidence in the Canadian economy. They’re now predicted to drop to 7.75 billion.
The Canadian dollar is slowly getting closer to parity. For more on the loonie, read the USD/CAD forecast.
Many US figures
After producer prices fell and erased a significant portion of last month’s rises, consumer prices aren’t expected to pick up. Both CPI and Core CPI are expected to rise by 0.1% after small moves last month. A significant rise is necessary for a rate hike.
Unemployment Claims are dropping steadily since they reached a peak of 496K. Another drop, from 462K to 456K is predicted. The Philly Fed Manufacturing Index is now expected to remain unchanged at 17.6. Whatever number is printed, the markets will shake around this event as well.
Also in the US, Current Account will probably show a deficit of 120 billion, more than last month’s figure. The CB Leading Index is expected to rise by 0.1%, less than last month’s rise of 0.3%.
That’s it for today. Happy forex trading!
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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 [...]
Forex Daily Outlook – February 19th 2010
The week ends with more important releases: British and Canadian retail sales and American inflation numbers among other releases. Let’s review the events:
Commodity currencies enjoyed a good week, riding on less fear in the markets. Will they manage to close the week higher? In recent weeks, Fridays were quite crazy.
Forex Daily Outlook – February 18th 2010
Yet another busy day expects traders: a rate decision in Japan, American PPI, and American jobless claims stand out. There are many other events as well.
The Greek crisis is fading away. EUR/USD isn’t the only pair to enjoy this. Also commodity currencies are on the rise, enjoying risk appetite trading. There are no releases today [...]
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. This [...]
Forex Daily Outlook – January 26th 2010
After a slow day, we have a very busy day today, starting with a rate decision in Japan. Then, we’ll get to know if Britain exited the recession, an important European survey will shake EUR/USD and American consumer confidence will move the dollar. Let’s see what’s up today:
Apart from the regular economic releases, a second [...]
Forex Weekly Outlook – January 25-29
A busy week is ahead of us: rate decision in the US, Japan and New Zealand and GDP releases from the US, UK and Canada are part of an eventful week. Will we see more dollar strength? Here’s an outlook for the last week of January.
Beginning on Wednesday, the World Economic Forum meets in Davos, [...]
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