Forex Daily Outlook – July 20 2010
U.S. Building Permits and Housing Starts, Bank of Canada’s Rate Statement and Overnight Rate highlight today’s economic news. Here is an outlook on the market moving events.
In the US, Building Permits and Housing Starts leading indicators of economic health are released simultaneously. The housing sector is critical for the US economy. No rise above 0.57M is expected. Housing starts dropped to 590K last month, and were disappointing for the greenback. A small drop of 10K is predicted.
More in the US, Federal Reserve Governor Daniel Tarullo testifies on Financial Regulation before the Senate Banking committee, in Washington DC.
In Canada, Bank of Canada is expected to raise the rates once again – from 0.50% to 0.75% due to high employment rates.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Producer Price Index, a leading indicator of consumer inflation, expected 0.2% rise following 0.3% increase in May.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Preliminary Mortgage Approvals a leading indicator of housing market demand expected to improve by 2K compared to May reaching 52K.
More in Great Britain, Public Sector Net Borrowing measuring the difference in value between spending and income for public corporations, the central government, and local governments during the previous month, forecasted a 2.8B decrease in deficit.
Later in Great Britain, CBI Industrial Order Expectations index based on a survey of 550 manufacturers rating the relative level of order volume expected during the next 3 months. A further dip to -25 points is expected and Preliminary M4 Money Supply measuring the change in the total quantity of domestic currency in circulation and deposited in banks, positively correlated with interest rates forecasted 0.1% decrease.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Trade balance surplus is predicted to increase following a drop from 2.02B to 0.82B in May.
In Australia, Monetary Policy Meeting Minutes, a detailed record of the Reserve Bank of Australia board’s most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.
More in Australia, RBA Governor Glenn Stevens delivers a speech titled “Some Long-Run Effects of the Financial Crisis” at the Anika Foundation Luncheon, in Sydney. His words can determine interest rates and future monetary policy.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, data on visitor arrivals is released an increase will be favorable to the country’s economy.
In Japan, Monetary Policy Meeting Minutes a detailed record of the BOJ Policy Board’s meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates may have a strong impact on the market.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – April 8th 2010
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Forex Daily Outlook – March 26th 2010
American final GDP and a revised version of consumer sentiment are the main events for today. Will the dollar continue rising? Let’s see what’s awaiting us today. The European economic summit continues today and will shake the EUR/USD that broke down earlier in the week.
Forex Daily Outlook – November 10th 2009
Lots of economic indicators are published today, with the German ZEW Economic Sentiment standing out. Let’s see what’s up for dollar continue the plunge? British figures start the day: BRC Retail Sales Monitor serves as the “mini retail sales” release. It rose by 2.8% last month, and is expected to keep on growing. The RICS [...]
Forex Daily Outlook – October 21st 2009
After a busy day yesterday, that saw the Canadian dollar falling, we have a rather thin calendar today. British meeting minutes and the Beige Book are the highlights of today. Australia’s MI Leading Index rose by 1.1%, exactly like last month. AUD/USD is trading in a range between 0.92 and 0.93, capped by a resistance line. For [...]
Forex Daily Outlook – October 8th 2009
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Forex Daily Outlook – September 30th 2009
A very busy day expects forex traders today. In the US, the ADP Non-Farm Payrolls and GDP stand out. There are very important figures from all parts of the world. Let’s see what’s on the menu today: Australian Building Approvals disappointed and fell by 0.1% instead of rising. Also last month’s figure was revised downwards. [...]
Forex Daily Outlook – August 4th 2009
A rate decision in Australia and American Pending Home Sales are the main events for today. There are other interesting figures for today. Let’s see what’s on the menu: Australian Retail Sales bring a strong start to the day. They’re expected to rise by 0.5%, less than last month’s 1% climb. But this is only [...]
Forex Daily Outlook – July 23rd 2009
Busy day today with American Existing Home Sales and Unemployment Claims dominating the scene. Also note the British Retail Sales. And there’s lots more. Let’s see what’s on the menu: In Australia, RBA Assistant Governor Dr. Guy Debelle will speak also today, and might move the Aussie. European Current Account is predicted to remain negative, but [...]
Forex Daily Outlook – June 15th 2009
Today’s highlights are American TIC Long-Term Purchases a speech by Timothy Geithner. And there are interesting releases in other parts of the globe. Let’s see what’s up for today: Swiss PPI is predicted to rise by 0.1% after falling last time. The Swiss hope for some rise in prices. This is a critical week for the [...]
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