Forex Daily Outlook – August 13 2010
U.S. Consumer Price Index and Retail sales, US, Consumer Sentiment and Federal Reserve Bank of Kansas President Thomas Hoenig’s speech in Nebraska are the major events closing another trading week. Here is an outlook on today’s market moving events.
In the US, Consumer Price Index, the main measure of inflation and U.S. Retail Sales, an important measure of consumer spending expected to increase by 0.2% from a reading of -0.1% in the previous month. The U.S. retail sales are also forecasted to pick up by 0.5% m/m in July from -0.5% in June.
More in the US, Consumer Sentiment, the University of Michigan’s monthly survey of 500 households on their financial conditions and outlook of the economy forecasted to further improve could resume with a reading of 69.4, up from 67.8 in the previous month.
Later in the US, Federal Reserve Bank of Kansas President Thomas Hoenig delivers a speech titled “Too Big to Fail or Too Big to Succeed? Wall Street, Main Street and America’s Security” at the Mary Riempa Ross Media Center, in Nebraska. Likely to affect interest rates and provide info regarding future monetary policy.
Finally in the US, Business Inventories expected 0.3% rise following 0.1% rise in May could indicate increased future business spending and Preliminary UoM Inflation Expectations reached 2.9% in June and is likely to rise similarly in July.
In Canada, New Motor Vehicle Sales, a sign of consumer confidence, expected to climb 2.1% following 0.2% rise in the previous month.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Gross Domestic Product, the main measure of economic activity and growth is expected to confirm expectations that the Euro-zone grew faster by 0.7% in Q2 2010 compared with the first quarter growth of 0.2% and the Flash GDP predicted 0.7% rise from 0.2% rise in the previous quarter
More in Europe, French Preliminary Non-Farm Payrolls measuring the change in the number of employed people, excluding the farming industry and government is foreseen a 0.3% rise, 0.1% more than in the previous quarter and French Preliminary GDP the broadest measure of economic activity and the primary gauge of the economy’s health predicted 0.4% rise following a mere rise of 0.1% in the previous quarter.
Finally in Europe, Trade Balance deficit expected to decrease to 2.3B from 3.0B in May.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Switzerland, Producer Price Index expected to increase by 0.2% following an unpredicted dip of 0.4% returning to positive values.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – July 14 2010
US Retail Sales, US Federal Open Market Committee Meeting Minutes and Euro-zone Industrial Production highlight today’s activities. Here is an outlook for the major market moving events. In the US, Retail Sales, an important gauge of consumer spending measuring the total receipts at retail establishments expected a modest decline of -0.1% due to last week’s better-than-expected sales [...]
Forex Daily Outlook – June 11 2010
US Core Retail Sales, Retail Sales and Preliminary UoM Consumer Sentiment are the main events today. Let’s see what’s on the menu at present: In the US, Core Retail Sales and Retail Sales are expected to show a decline in the US economy; Core Retail Sales, from 4.0% to 1.0% and Retail Sales, from 0.4% [...]
Forex Daily Outlook – May 14 2010
Consumer confidence is rising and so is Industrial Production and Capacity Utilization Rate showing a good climate in the US market. In Canada, BOC Deputy Governor John Murray speaks in Ottawa and Manufacturing Sales are up showing an overall positive air to the leading economies. Let’s see what’s on the menu today. In the US, [...]
Forex Daily Outlook – April 14th 2010
A busy day expects forex traders, especially with US figures. Retail sales and consumer prices will be in the limelight. Let’s see what’s up for today. EUR/USD continues to trade above the gap. While this is a sign of strength, the resolution to the Greek crisis is not fully realized, and the implications to the [...]
Forex Daily Outlook – March 12th 2010
Two American figures will be in the limelight todya: retail sales and consumer sentiment. In addition, we have employment figures from Canada and other events. Let’s see what’s up for today. Up to now, this week saw tight trading, especially in the major pairs. Only the Aussie stood out with a break, enjoying good employment [...]
Forex Daily Outlook – February 12th 2010
The final day of the week is all about the major pair EUR/USD – lots of figures will be pouring out of these two regions and will determine the direction of pair towards the close of the week. Let’s see what’s up for today. European figures Europe’s GDP number will take the attention in the [...]
Forex Daily Outlook – January 14th 2010
The calendar is crowded today. The main events are a rate decision in Europe and American retail sales. Let’s see what’s up for today: No British figures are released today. Note that the GBP/USD rose above the 1.6270 resistance line (at the time of writing). The main reason for this is the rise is the [...]
Forex Weekly Outlook – January 11-15
After a turbulent start to the year, the second week also provides may important events: retail sales and inflation figures in the US, key employment figures in Australia and a rate decision in Europe are among the highlights this week. Let’s see what’s awaiting us in the wake of the NFP. American Non-Farm Payrolls, the most [...]
Forex Daily Outlook – November 16th 2009
The dollar started the week lower on more world recovery, this time from Japan. Today’s American retail sales, a speech by Bernanke and European inflation (or deflation) numbers are the highlights of the day. Let’s see what’s awaiting us today: Japan’s preliminary release of third quarter GDP was excellent: Gross Domestic Product rose by 1.2%, [...]
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