Forex Daily Outlook – March 5th 2010
In the last day of the week, the scene is clear for the king of forex – Non-Farm Payrolls. Let’s see what it’s expected to bring us, and what other events are out there.
Trading during this day, and especially around the release is different than normal days. The markets trade in high volatility. I recommend reading my 5 notes for Non-Farm Payrolls trading.
Britain’s producer prices jumped last month, and are expected to rise by only 0.1% after a jump of 2% last month (PPI Input). Another rise might help sterling recover from the blow it got at the beginning of the week.
For the Pound’s technical levels, check out the GBP/USD forecast.
In Europe, German Factory Orders are predicted to rise by 1.6%, following a disappointing drop of 2.3% last month.
The Euro continues to float in its range. For more, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
Non-Farm Payrolls are expected to show a loss of 40,000 jobs. These low expectations come after two months in which economists were optimistic about jobs. Also the unemployment rate is expected to be worse than last time – 9.8% instead of 9.7%. Whatever the outcome, the markets will rock around this release.
In my Nonfarm payrolls preview, I wrote that the low expectations are good for the dollar. Only a big drop will hurt it.
Also in the US: Average Hourly Earnings are expected to rise by 0.2%, exactly like last month, and Consumer Credit is expected to drop by 4 billion.
That’s it for a very busy week. Happy forex trading!
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Forex Daily Outlook – March 4th 2010
Tension rises in the forex market as the calendar is very busy today. The highlights are rate decisions in Europe and Britain, plus a busy American calendar. Let’s see what’s awaiting us today.
Tension also comes from a possible resolution to the Greek crisis (although fragile), and the hints towards the big event on Friday: Nonfarm [...]
EUR/USD Outlook – March 1-5 2010
EUR/USD finally had a positive week and gained some ground. It’s now facing a very busy week, with the rate decision being the climax. Here’s the outlook for the European events, and an updated technical analysis for EUR/USD.
EUR/USD chart with support and resistance lines marked. Click to enlarge:
Even though this week is crowded with economic [...]
Forex Daily Outlook – February 4th 2010
Very busy day ahead: rate decisions in Britain and Europe are the highlights in a crowded calendar, one day before the Non-Farm Payrolls.
Things are shaky in the forex market. The dollar weakened during the week but then erased the losses after the ADP Non-Farm Payrolls was good. The major pair, EUR/USD is currently holding steady. [...]
EUR/USD Outlook – February 1-5 2010
Looking for the latest outlook, for the current week? Check out the section: EUR/USD Forecast.
EUR/USD had a terrible week, reaching 6 month lows against the dollar, with the final push on Friday’s American GDP. The upcoming week is quite busy, with a rate decision being the highlight. Here’s an outlook for the upcoming 8 events [...]
Forex Daily Outlook – January 7th 2010
The focus shifts to Britain today that receives a rate decision. There are lots of other important events worldwide. Let’s see what’s up today:
Anticipation towards the Non-Farm Payrolls prevents significant breakouts. The markets are tense towards the release on Friday.
EUR/USD Failed to Break Out
The Euro tested the upper border of its trading range and bounced. There are many reasons for explaining the move upwards, and one good reason for not seeing a break.
EUR/USD went as high as as 1.4480 – an important resistance line, and then fell back down to the low 1.44s. Since December 16th, the pair [...]
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