Forex Daily Outlook – August 25 2010
Very interesting news and updates coming up today. New Home Sales in the US, Corporate Profits in Canada, Construction Work Done in Australia. Let’s see what awaits us today.
In the Us, New Home Sales, an important gauge of housing market conditions measuring the number of newly constructed homes with a committed sale during the previous month, The U.S. new home sales are forecasted to rise a bit to 340 K in July from 330 K, but considering the weak housing starts figures, this report could have the potential to disappoint.
Later in the US, Durable Goods Orders, a leading indicator of economic activity measuring durable goods orders placed with domestic manufacturers. With the US industrial production rising more that the estimates and the manufacturing sector leading the recovery, the orders for durable goods could confirm the trend with an increase of 3.0% m/m in July from the 1.2% drop in June.
More in the US, Crude Oil Inventories, the number of barrels of crude oil held in inventory by commercial firms during the past week; decreased by 7M and It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods;
Finally in the US, HPI House Price Index (HPI), the purchase price of homes with mortgages backed by Fannie Mae and Freddie Mac, decreased by 4%, a leading indicator of the housing industry’s health, rising house prices attract investors and spur industry activity.
In Canada, Corporate Profits, the total value of profits earned by corporations stabilized on 4.8% and it’s a leading indicator, businesses are quickly affected by market conditions, and changes in their earnings can be an early signal of future economic activity.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Germany IFO Institute Business Climate and Expectations Index, a leading indicator of economic conditions and business expectations in the Euro-zone’s largest economy, The ZEW institute survey, which is a leading indicator of the German IFO, registered a larger-than-expected decline and it would not be surprising the see the same outcome for this report as the IFO index is expected to pull back to 105.5 from 106.2.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
Read more about the Pound in the GBP/USD forecast.
In Australia, Construction Work Done, the total inflation-adjusted value of construction projects completed increased by 1.1% and it’s an important gauge of the construction industry, which has a sizable impact on overall employment and spending
For more on the Aussie, read the AUD/USD forecast.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – July 28 2010
Important and interested news today, in the US Durable Goods Orders, in Australia some changes in the CPI and Trimmed Mean CPI, let’s see what await us today. In the US Durable Goods Orders, a leading indicator of economic activity measuring durable goods orders placed with domestic manufacturers, The U.S. manufacturers may need to speed [...]
Binary Options Setups – July 26-30
This week consists of quite a few market moving events that could provide opportunities for binary options trading. Here are 7 events with potential market reactions and binary options setups. Binary options can be used as an alternative to the traditional stop loss, as a tool for protecting against false breakouts and lots more. One-hour [...]
Forex Weekly Outlook – July 26-30
The upcoming week is dominated by American releases, with the best kept for last – the first release of GDP for the second quarter. Here’s an outlook for the major market movers this week. Friday’s European stress tests will still be felt in the markets at the start of the new week. Will the weak [...]
Forex Daily Outlook – June 24 2010
US Core Durable Goods Orders and US Unemployment Claims are the highlight of the day. Let’s review today’s activities: In the US, The Core Durable Goods Orders measures the change in the total value of new orders for durable goods, excluding transportation appears to have considerable impact on the currency market expecting a rise of [...]
Forex Daily Outlook – May 26 2010
US Federal Reserve Chairman Ben Bernanke delivers a speech in Tokyo, US Core Durable Goods Orders are expected to drop while Durable Goods Orders are expected to rise and New Home Sales are expected to edge up this month. Let us see what awaits us today In the US, Federal Reserve Chairman Ben Bernanke delivers [...]
Forex Daily Outlook – April 23rd 2010
American home sales on the rise, the international G20 meeting with a closing speech from US Treasury Secretary Timothy Geithner together with other encouraging news from around the world sum up this week. Let’s see what’s up for today. In the US, New Home Sales, annualized number of new single-family homes that were sold during [...]
Forex Daily Outlook – March 24th 2010
A busy day expects forex traders. The British budget release, American new durable goods orders and new home sales, New Zealand’s GDP and lots of European figures will rock the markets today. Let’s see what’s awaiting us: Flash purchasing managers’ indices pour in during the European morning. France starts with its manufacturing and services figures. [...]
Forex Weekly Outlook – March 22-26
Apparently the dollar only took a break just to show fresh strength. The upcoming week. The upcoming week starts with an easy Monday and then becomes busy with many American events. Note a special British event – the annual release of the budget. Let’s review the major market-movers for the upcoming week. Also in the [...]
Forex Daily Outlook – February 25th 2010
Ben Bernanke will continue to cast his spells over the markets today, and we also have many important economic indicators from all over the world. Let’s see what’s awaiting us in this busy day in forex trading: Australia’s Private Capital Expenditure provides a strong start for the day. After a drop of 3.9% in the [...]
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