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 – February 18th 2010
Yet another busy day expects traders: a rate decision in Japan, American PPI, and American jobless claims stand out. There are many other events as well.
The Greek crisis is fading away. EUR/USD isn’t the only pair to enjoy this. Also commodity currencies are on the rise, enjoying risk appetite trading. There are no releases today [...]
Forex Daily Outlook – January 20th 2010
Another busy day is awaiting us: American Building Permits and British employment numbers are the highlights. Let’s see what’s up for today.
Note the journey down of EUR/GBP, which moves by strong British figures and weak European ones.
Arabic version of this post
Forex Daily Outlook – December 15th 2009
After an easy start on Monday, a long day awaits forex traders. Lots of American numbers are expected, with the TIC Long-Term Purchases on top. Also note British CPI, German economic sentiment and Australian meeting minutes. Let’s review the events of this busy day:
British RICS House Price Balance starts the day early with an expected [...]
Forex Daily Outlook – November 17th 2009
After Bernanke’s words and retails sales didn’t do much to the markets, today’s British CPI and American PPI stand out in quite a busy day. Let’s see what’s up for today:
Australia’s Monetary Policy Meeting Minutes didn’t send a clear message about future rate hikes. AUD/USD remains in the same trading zone as yesterday – around [...]
Forex Weekly Outlook – October 19-23 2009
After another week of general dollar weakness, this week’s highlights are housing data from the US, meeting minutes from all over the world, a rate decision in Canada and British GDP. There are many more important releases. Let’s see what’s expecting us this week:
The past week showed us that also in the Asian sessions, dramatical [...]
Forex Daily Outlook – September 15th 2009
After the dollar renewed its falls, a busy day expects the forex markets. The calendar is packed with events, including Retail Sales, PPI and a speech by Ben Bernanke. There are more important indicators in other parts of the world as well. Let’s see what’s up today:
Australian Monetary Policy Meeting Minutes showed that a rate [...]
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