Forex Daily Outlook – March 1st 2010
The first day of March brings a busy calendar which isn’t typical for Mondays. Canadian GDP, European Unemployment Rate and American ISM Manufacturing PMI will stand out today.
As time goes by this week, trading will be more and more influenced by the tension towards the Non-Farm Payrolls. I suggest being careful with this event. OK, let’s start the review:
Australia’s Glenn Stevens might provide final hints to the upcoming rate decision in an early speech. Also in Australia, the AIG Manufacturing Index, Commodity Prices and Current Account will be released, with the latter expected to show a bigger deficit.
Aussie traders have a busy week. For more, read the AUD/USD forecast.
In Europe, German Import Prices are predicted to rise by 0.8% and the Final Manufacturing PMI is expected to be confirmed at 54.1 points.
The more important release in Europe is the Unemployment Rate, which is predicted to tick up from 10 to 10.1%, showing the weakness of the Euro-zone.
For more on the Euro, check out the EUR/USD forecast and Casey Stubbs’ latest analysis.
British Manufacturing PMI always rocks the Pound. After rising up to 56.7 points, the highest score in a long time, this indicator is expected to tick down to 56.5.
Also in Britain, Net Lending to Individuals is expected to drop from 1.2 billion to 0.7 billion, showing less activity. For more on the British Pound, check out the GBP/USD forecast.
In Canada, monthly GDP is expected to rise by 0.4%, exactly as the previous quarter. Note that this release completes Q4 of 2009 and should be interesting to watch.
Also in Canada, RMPI (Raw Materials Price Index), is expected to rise by 1.9%. For more on USD/CAD, read the Canadian dollar forecast.
In the US, Core PCE Price Index is expected to rise by 0.1% while Personal Spending will probably rise by 0.4%. Personal Income is expected to rise by 0.5%.
The more important release is the ISM Manufacturing PMI – this figure jumped to 58.4 points, and is now expected to soften to 57.9, which is also great. A better result will boost the dollar.
Japan closes the day with Household Spending, which is expected to show a year over year rise of 2.6%. The Japanese Unemployment Rate will probably remain unchanged at 5.1%.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – February 1st 2010
The calendar is quite busy for a Monday: the first day of February provided many figures from all over the world, with American ISM Manufacturing PMI being the highlight. Let’s see what’s up for today:
Australia starts the day with many figures: the AIG Manufacturing Index is expected to rise while the MI Inflation Gauge is [...]
Forex Daily Outlook – November 25th 2009
The day before Thanksgiving also brings a crowded calendar. Revised GDP in Britain and Durable Goods Orders in the US stand out. Let’s see what’s up for today:
Arabic version of this post
Australia starts the day with the amount of construction work. Construction Work Done is predicted to rise by 0.1% in Q3, after a drop of [...]
Forex Daily Outlook – October 30th 2009
The month of October ends with many economic indicators around the world, with Canadian GDP standing out. Let’s see what’s on the menu today.
In Britain, GfK Consumer Confidence rose to -13, better than expected but still in the negative zone. Nationwide HPI rose only by 0.4%, less than expectations. GBP/USD now trades at 1.6550.
For more [...]
Forex Daily Outlook – October 1st 2009
American figures dominate the scene on the first day of the last quarter. Unemployment Claims, Pending Home Sales and Ben Bernanke will stand out. There are many other releases today, including two unemployment rate figures. Let’s see what’s up for today:
German Retail Sales started the day with a serious fall of 1.5%, after last month’s [...]
Forex Daily Outlook – August 28th 2009
The last day of the week is highlighted by Britain’s GDP. And there are various releases from all the world. Let’s see what’s up for today:
The first figure for today is bid: Britain posts its Revised GDP for the second quarter of 2009. Economists don’t expect a change from the initial read of a 0.8% [...]
Forex Weekly Outlook – August 24-28 2009
The last week of August brings revised GDP figures in the US and Britain, Durable Goods Orders and more important releases. What will be the dollar’s direction this week? Here’s the weekly outlook.
The US dollar made some late gains on Friday afternoon. The Jackson Hole conference going on during the weekend, with the positive feeling can [...]
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