Forex Daily Outlook – August 26 2010

U.S. Unemployment Claims, Jackson Hole Economic Symposium and Japan’s CPI are the major events today. Here is an outlook on the activities ahead.

In the US, Unemployment Claims rose sharply in August reaching 500K last week this is an ominous signal for the US economy, a drop to 486K is expected now.

More in the US, Mortgage Delinquencies measuring the percentage of MBA-represented mortgages which were at least one payment late during the previous quarter predicted to remain around 10.0% this quarter.

Jackson Hole Economic Symposium, held in Jackson Hole, Wyoming, is attended by central bankers, finance ministers, academics, and financial market participants from around the world.. Comments and speeches from central bankers and other influential officials can create significant market volatility this Could Have Wide-Ranging Implications on all markets.

Finally in the US, Natural Gas Storage dropped to 27B last week and is likely to remain the same this week.

In Europe, GfK German Consumer Climate index based on a survey of about 2,000 consumers climbed to 3.9 points in July and is expected to continue rising to 4.1 points this month.

More in Europe, M3 Money Supply measuring change in the total quantity of domestic currency in circulation and deposited in banks forecasted 0.4% rise following the 0.2% rise in June and Private Loans are expected the same rise of 0.4%  after 0.3% rise in the previous month.

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

In Great Britain, CBI Realized Sales index based on a survey of about 160 retail and wholesale companies is expected a 10 point decrease from the 33 point climb in July. Charles Bean will speak tomorrow.

Read more about the Pound in the GBP/USD forecast.

In Switzerland, Employment Level expected to rise by 10K this quarter following 3.96M in the last three quarters.

In Australia, Private Capital Expenditure a leading indicator of economic health predicted 2.3% rise following 0.2% drop in the previous quarter a positive sign for the Australian market.

More in Australia, CB Leading Index a combined reading of 7 economic indicators related to money supply, building approvals, profits, exports, inventories and interest rate spreads expected to remain 0.3%

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

In Japan, Tokyo core Consumer Price Index, the most important consumer inflation release is expected to stay below 0% with a reading of -1.2% due to deflation trend as well as National Core CPI predicted -1.1% drop.

More in Japan, Household Spending forecasted to increase by 1.5% following 0.5% increase in the previous month and Unemployment Rate expected to remain 5.3%.
That’s it for today. Happy forex trading!

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