Forex Daily Outlook – September 1 2010
U.S. DAP Employment Report, ISM Manufacturing Index and Australian GDP are at the top of our market moving events for today. Here is an outlook on the economic activities awaiting us.
In the US, Automatic Data Processing Employment Report, a measure of jobs lost or added to the private sector of the economy, also serving as a preliminary estimate for the outcome of the monthly non-farm payrolls expecting a slower jobs creation of up to 20 K jobs in August from 42 K in July and Challenger Job cuts fell 57.2% in July totaled 41,676, a similar number is expected now, however the job-cut report must be analyzed with caution. It doesn’t distinguish between layoffs scheduled for the short-term or the long term, or whether job cuts are handled through attrition or actual layoffs.
More in the US, ISM Manufacturing Index, a leading indicator of industrial activity, expected to register another month of slower growth with the index pulling back to 53.2 from 55.5 in July and ISM Manufacturing Prices also predicted to drop to 55.5 from 57.5 in July.
Later in the US, The Department of Energy reported that in the week ending August 20th, 2010, U.S. crude oil increased by 4.1 million barrels, a smaller increase of 1.3M is expected now and Construction Spending expected to decrease by 0.4% following 0.1% increase in June.
Finally in the US, Total Vehicle Sales predicted to increase by 100K reaching 11.6M and Federal Reserve Governor Elizabeth Duke speaks about Neighborhood Stabilization at the Federal Reserve REO and Vacant Properties Summit, in Washington may affect interest rates and provide info on future monetary policy.
In Europe, German Retail Sales the primary gauge of consumer spending, expected 0.6% rise following a worse than expected drop of 0.9% in the previous month.
More in Europe, Final Manufacturing Purchasing Managers’ Index a leading indicator of economic health is foreseen to remain 55.0 indicating expansion.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, House prices a leading indicator of the housing industry’s health increased by 0.6% in July. This modest rise offset the 0.6% fall in June and is likely to increase this time as well.
More in Great Britain, Manufacturing Purchasing Managers’ Index a leading indicator of economic health predicted 57.1 points, 0.2 less than in the previous month but overall an encouraging figure.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, SVME Purchasing Managers’ Index expected to drop 1 point to 65.9 indicating stability and growth in the Swiss market.
In Australia, Gross Domestic Product, the main measure of economic activity and growth should confirm the expectations for faster economic growth in Q2 2010 by up to 0.9% q/q from 0.5% in the first quarter.
More in Australia, Commodity Prices a leading indicator of the nation’s trade balance since commodities account for over half of Australia’s export earnings has climbed 7% to 51.0% in July and is expected a similar rise this time as well.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, ANZ Commodity Prices dropped 0.8% in July a small rise is expected now.
In Japan, Monetary Base measuring change in the total quantity of domestic currency in circulation and current account deposits held at the BOJ forecasted 6.3% rise 0.2% more than in July.
That’s it for today. Happy forex trading!
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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 [...]
Forex Daily Outlook – August 18 2010
Some existing News in New Zealand regarding the PPI Input, in the US updates regarding the Crude Oil Inventories and more. Let’s see what awaits us today. In Great Britain Monetary Policy Committee Meeting Minutes, It’s a detailed record of the Bank of England (BOE), MPC’s most recent meeting providing in-depth insights into the economic [...]
Forex Daily Outlook – August 11 2010
U.S. and Canada’s Trade Balance followed by British Jobless Claims are the major activities today. Here is an outlook on the market moving events. In the US, American Trade Balance deficit is expected to decrease from 42.3B to 42.0B following the worse than expected deficit increase in May.
Forex Daily Outlook – August 4 2010
U.S. ADP an early indicator of non-farm payrolls and US ISM Non-Manufacturing Index are the major activities on our menu. Here is an outlook on today’s market moving events. U.S. Automatic Data Processing Employment Report, a preliminary estimate for the outcome of the monthly non-farm payrolls is expected to add as many as 36,000 new [...]
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 [...]
Forex Daily Outlook – July 21 2010
Some interesting and important news In the U.S., Fed chair Ben Bernanke is to testify in Washington and also data on crude oil inventories, In the U.K. MPC Meeting Minutes, Canada will produce important data on wholesale sales and more. Let’s see what awaits us today. In the US, Federal Reserve Chairman Ben Bernanke; Testifies [...]
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 – July 8 2010
US Unemployment Claims decrease, Britain, Manufacturing Production expecting a rise and the Australian Employment Change and Unemployment Rate are changing. Here is an outlook on today’s events. In the US, Unemployment Claims, weekly report that measure the number of individuals who filed for unemployment insurance for the first time during the past week; droops down [...]
Forex Daily Outlook – June 30 2010
American ADP Non-Farm Payrolls, Canada’s GDP, British Final GDP, Swiss KOF Economic Barometer and Japan’s Tankan Manufacturing Index make the current headlines. Let’s review today’s activities. In the US, American ADP Non-Farm Payrolls: The report for the private sector is sometimes called the “mini Non-Farm Payrolls”. In many months, it didn’t predict the direction of [...]
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