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 do you think? Anyway, let’s start the review:
Japan provides a strong start to the day with a rate decision. The Overnight Call Rate isn’t expected to move from 0.1%. It will be interesting to see how the Monetary Policy Statement will be: the wording will shake the yen. Afterwards, the BOJ will hold a press conference, and this will also shake the yen.
At the end of the day, Japan’s BSI Manufacturing Index is expected to rise to 15.3 points.
Busy day in Britain today: the Claimant Count Change is expected to show a rise of 8,700 jobs after a disappointing rise of 23,500 jobs last time. The Unemployment Rate, which relates to the month of January, is expected to remain unchanged at 7.8%.
At the same time, the MPC Meeting Minutes will be released. They’re expected to show if any of the bankers voted to expand the Quantitative Easing program, after 200 billion pounds were used.
For the Pound’s technical levels, read the GBP/USD forecast.
In Europe, the only event due today is a speech by Axel Weber, the leading candidate to replace Trichet as the president of the ECB. For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Canada, Wholesale Sales are expected to rise by 0.6%, following a rise of 0.7% last month. The Canadian dollar holds on to its gains at the moment. For more, read the USD/CAD forecast.
In the US, producer prices will move the dollar. After a jump of 1.4%, PPI is expected to drop by 0.2% this time, indicating that no inflation is in the horizon. Also Core PPI is predicted to remain mild – a small rise of 0.1%.
One day after the rate decision, Ben Bernanke testify alongside Paul Volcker, a former head of the Federal Reserve, about the the central bank’s powers and the meaning for monetary policy. While the agenda isn’t rates, Bernanke can always shake the markets.
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Forex Daily Outlook – December 23rd 2009
The eve of Christmas Eve has a few important releases: American New Home Sales, Canadian GDP and more. Some traders are already on vacation, but the markets continue to move. Let’s see what’s up for today.
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Forex Daily Outlook – September 16th 2009
The dollar continues to weaken, especially after Bernanke’s speech. Today’s calendar is packed with CPI from Europe and the US, employment figures in Britain and many other releases. Let’s see what’s up for today.
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Forex Weekly Outlook – September 14-18 2009
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Forex Daily Outlook – June 22nd 2009
The forex trading week starts without American indicators. Still, German Ifo Business Climate will stand out today, and other events will also shake the market. And do note the Iran election crisisthat looms over the market. Here’s what’s up for today:
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Timothy Geithner is due to present the plan to relieve US banks from toxic assets. While this is intended to be a Public-Private plan, funding this scheme may, yet again, result in printing US dollars – sending the greenback down. It already happens now, before the announcement.
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