Forex Daily Outlook – January 4th 2010
The first trading day of 2010 begins with a rather busy calendar. American ISM Manufacturing PMI will stand out today as well as echoes from Ben Bernanke’s speech late on Sunday. Let’s see what’s up for today.
Ben Bernanke said that low rates aren’t to blame for the house bubble – bad regulation and bad execution of regulation are to blame. Looking to the future, Bernanke mentioned that if regulations won’t stop bubbles, the central bank will step in with the rate tool. Is this a hint for rate hikes?
Moving into Monday, Australia’s AIG Manufacturing Index provides an early indicator for the Aussie. This will be followed by a more important figure: Commodity Prices, which are expected to show a lower year-over-year drop.
For more on the Aussie, check out the AUD USD forecast.
In Switzerland, the SVME PMI is expected to edge up to 57.1 pushing USD/CHF lower.
In Europe, Final Manufacturing PMI is expected to confirm the read at 51.6 points. Sentix Investor Confidence is predicted to edge up, but still remain in the negative zone. The EUR/USD forecast has more, including a technical analysis for this pair.
In Britain, Manufacturing PMI is expected to tick up from 51.8 to 52.1 points. British Net Lending to Individuals is expected to double to 0.6 billion.
Also in Britain, Mortgage Approvals are expected to remain almost unchanged, ticking up to 58,000 this time. For more on the Pound, read the GBP USD forecast.
In the US, the ISM Manufacturing PMI is expected to rise by 53.6 to 54.1 points, something that will put a smile on dollar bulls’ faces. This index has been above the 50 point mark, meaning economic expansion, for the past 4 months.
Also in the US, Construction Spending is expected to drop by 0.4% and a speech from FOMC member Elizabeth Duke could also move the markets.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – November 6th 2009
The busy week comes to an end with the big announcement of the Non-Farm Payrolls. The job market is lagging behind other indicators. Is this going to change? There are other important events as well. Let’s review them:
The day begins with the RBA Monetary Policy Statement from Australia. After the second rate hike this week, [...]
Forex Daily Outlook – September 14th 2009
Forex trading began with a stronger dollar this week. European Industrial Production is the highlight of this rather calm day. Let’s see what’s on the menu today.
The late dollar comeback that began late on Friday continues today. While the British Pound and the New Zealand dollar suffer, the Swissy and the Yen are weathering this [...]
Forex Daily Outlook – May 13th 2009
American Retail Sales will draw attention today, as well as British unemployment figures. And there’s more. Let’s see what’s on the menu:
Japan’s BOJ Governor Masaaki Shirakawa will speak during the day. We haven’t heard from him lately. Does he see hope?
Britian’s Claimant Count Change is the best indicator for unemployment in the UK. It’s expected to rise [...]
Forex Daily Analysis – February 24th 2009
Tuesday features lots of economic figures. German Ifo Business Climate, British CBI Realized Sales and American CB Consumer Confidence stand out. Let’s dive into it…
In Europe, French Consumer Spending opens the day. Later on, at 9:00 GMT, the German Ifo Business Climate will shake the Euro. It’s expected to be stable, at 83.2 points.
Also Europe’s Current Account (-14.3 billion) will be [...]
Forex Daily Analysis – February 16th 2009
Forex trading began with news from Japan: GDP in Japan fell by 3.3%, more than expected. This sent USD/JPY up to 91.90.
In other data from Japan, the Revised Industrial Production fell even more than the preliminary figure, by almost 10% – 9.8%.
These bad figures might have caused BOJ Governor Masaaki Shirakawa to give an unexpected speech [...]
Forex Weekly Outlook – February 16-20 2009
This week has a strong start, with Japan’s GDP, just as the market opens. A rate decision in Japan will follow during the week. Later, CPI will be released on Tuesday in Britain, and on Friday in Canada and in the US. German ZEW Economic Sentiment, Anerican Building Permits and TIC Long-Term Purchases are notable. Let’s dive in…
Sunday, [...]
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