Forex Daily Outlook – July 30 2010

U.S. Advance GDP, US Employment Cost and Canada’s GDP are the major event at the end of another trading week. Here is an outlook on today’s events.

In the US, Advance Gross Domestic Product, the main measure of economic activity and growth in the world’s largest economy will bring the preliminary estimate of the U.S. GDP, which is forecasted to be in line with the market’s expectations of slower 2.5% economic growth in Q2 2010, compared with 2.7% in the first quarter while Advance GDP Price Index is expected the same growth rate of 1.1% as in the previous quarter.

More in the US, Employment Cost Index measuring the change in the price businesses and the government pay for civilian labor is forecasted 0.5% rise following 0.6% rise in the previous month.

Finally in the US, Chicago PMI predicted to drop 3 points from June to 56.1 points while Revised UoM Consumer Sentiment based on a survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions is foreseen a 1 point rise from 66.5 points and Revised UoM Inflation Expectations expected to remain around 2.9% as in the previous month.

In Canada, Gross Domestic Product, the main measure of economic activity and growth expected to pick up slightly by 0.1% in June from the flat reading of 0% in May.
For more on USD/CAD, read the Canadian dollar forecast.

In Europe, Consumer Prices, the main measure of inflation in the Euro-zone and the European Union’s equivalent expecting inflationary pressures following a brief pullback, estimated to rise by 1.8% y/y in July from 1.4% y/y in the previous month.
More in Europe, German Retail Sales expected to remain flat this month following 0.4% rise in June. Italian Prelim CPI is foreseen a 0.2% rise after no rise in June and Italian Monthly Unemployment Rate predicted 8.8% rise 0.1% more than in June.

Finally in Europe, Unemployment Rate in the Euro-Zone is expected to remain 10%.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.

In Switzerland, KOF Economic Barometer index based on 12 economic indicators expected to rise by additional 0.07 points to 2.32 points may have significant impact on the market.

In Australia, Private Sector Credit forecasted a 0.4% rise following 0.5% rise in the previous month indicating consumer’s continue borrowing and spending.

For more on the Aussie, read the AUD/USD forecast.

In Japan, Housing Starts predicted a positive 1.7% increase following 4.6% dip in the previous month.

That’s it for today. Happy forex trading!

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.

Forex Daily Outlook – April 30 2010

Moderate changes in the major indexes are foreseen in the U.S. and European markets. The GDP and Employment Cost Index in the U.S. open today’s report. Let’s see what awaits us today. In the US, Advance Gross Domestic Product (GDP), is the earliest GDP release, measuring the annualized change in the inflation-adjusted value of all [...]

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. [...]

Forex Daily Outlook – July 31st 2009

Another month comes to end. This time it’s with a bang! American Advance GDP for the second quarter is causing anxiety all over the globe. Also watch out for the Canadian GDP and other figures. Let’s see what’s up or today. Australian Private Sector Credit is expected to rise by 0.1% after falling by 0.1%. AUD/USD [...]

Forex Weekly Outlook – July 27-31 2009

The last week of July begins slowly but ends with a bang: American GDP for the first quarter. Also note Durable Goods Orders, a rate decision in New Zealand and GDP in Canada. Let’s see what’s up for the last week of July, and also the last week before the NFA ruling is here.

Forex Daily Outlook – April 30th 2009

The economic calendar is packed by events today, with German Unemployment Change, Canadian GDP and American Unemployment Claims being the most important figures. The market is still shaken from yesterday’s Advance GDP and FOMC Statement. Let’s see what’s up for today: In Australia, CB Leading Index rose by 0.2%, showing that the Australian economy is still stable. NAB Quarterly [...]

Forex Daily Analysis – January 30th 2009

The last day of January provides lots of economic indicators everywhere. The main event of the day is the Advance GDP in the US, which is expected to fall by a huge 5.4%. In Japan, much data is released: the yearly Household Spending is expected to drop by 3.6%. The Tokyo Core CPI is expected to rise by [...]

Forex Weekly Outlook – Januray 26-30 2009

The upcoming week in forex trading features a return of data from the US. The two major events are a new interest rate on Wednesday (probably unchanged), and the Advance GDP on Friday.Also Home Sales information will be in the limelight in America.  This week, it’s New Zealand turn to slash interest rates, Canada will [...]

  • Forex Crunch

    Forex Crunch is a blog all about the foreign exchange market. It includes and will include: tutorials, basics of the forex market, daily and weekly forex analysis, technical analysis, forex software posts, and whatever is related to Forex. Forex Crunch aims to deal with forex trading, but with a more personal touch. More...

  • Stay up to date!

    Subscribe By Email

    Enter your email address:


    Trade together with Currensee

    Search

  • Forex Crunch Pages

  • Forex Categories

Bad Behavior has blocked 2043 access attempts in the last 7 days.