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.
More in the US, Federal Budget Balance, Following a cutback to 68.4B in the government’s deficit in the previous month a huge increase to 167.6B is expected badly affecting the US dollar.
Finally in the US, Crude Oil Inventories decreased by 2.8M last week and are expected to decline further in the next few months.
In Canada, Trade Balance surplus of 0.4B is expected now following a deficit of 0.5B in May Canaca’s return to Trade Balance surplus will strengthen CAD.
For more on USD/CAD, read the Canadian dollar forecast.
In Great Britain, Jobless Claims expected to improve the labor market conditions by dropping to 17.4K whilt the Unemployment rate is expected to remain 7.8%.
Later in Great Britain, Bank of England Governor Mervyn King holds a press conference, along with other MPC members, about the Inflation Report, in London will impact interest rates.
More in Great Britain, Average Earnings Index a leading indicator of consumer inflation is predicted to rise by 1.1% following a worse than expected rise of 2.7% in the previous month.
Read more about the Pound in the GBP/USD forecast.
In Australia, Westpac Consumer Sentiment index based on a survey of about 1,200 consumers which asks respondents to rate the relative level of past and future economic conditions, employment, and climate for major purchases increased by 11.1% in July following three months of decreases. A further increase is expected now.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, Business NZ Manufacturing Index edged up by 2.2 points last month a further rise is expected now and Food Price Index also experienced a 1.3% rise in June and is predicted to rise again.
In Japan, Bank of Japan’s Monthly Report is released contains the statistical data that the BOJ Policy Board members evaluated when making the latest interest rate decision, and provides detailed analysis of current and future economic conditions from the bank’s viewpoint.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – July 13 2010
American and Canadian Trade Balance followed by German ZEW Economic Sentiment and UK’s CPI highlight today’s activities. Here is an outlook on the events at hand. In the US, The trade deficit in the U.S. widened in April to $40.3 billion the highest in more than a year as exports and imports both declined. A [...]
Forex Daily Outlook – June 10 2010
US Unemployment Claims and Trade Balance followed by Canada’s Trade Balance highlight this day’s events. Let’s see what awaits us today. In the US, Unemployment Claims are expected to continue decreasing from 453K to 447K which is a good sign for the US market.
Forex Daily Outlook – May 12 2010
US expects another negative trade balance while decreased federal budget deficit raises optimism in the market; Federal Reserve Bank of St Louis President James Bullard speaks, in Nashville and good news for Canada’s economy with a positive Trade Balance and Housing Price Index. A busy day full of events awaits us today. In the US, [...]
Forex Daily Outlook – April 12th 2010
After a week with high volatility, we have quite a few indicators to start the week, that already started with dramatic weekend gaps. Let’s see what’s up for today: European leaders might rescue Greece – this is what pushed EUR/USD higher on Friday, after it was beaten beforehand. The Euro won’t receive any indicators today, [...]
Forex Daily Outlook – February 17th 2010
A busy day expects forex traders, especially those trading cable. Major figures will be released in Britain and the US. Will the Pound chose a direction? Let’s see what’s awaiting us: Fear is fading away from the markets, and high yielding “risky” currencies are on the rise. The Australian and kiwi dollars are making gains, [...]
Forex Daily Outlook – February 12th 2010
The final day of the week is all about the major pair EUR/USD – lots of figures will be pouring out of these two regions and will determine the direction of pair towards the close of the week. Let’s see what’s up for today. European figures Europe’s GDP number will take the attention in the [...]
Forex Daily Outlook – February 10th 2010
We finally have a busy day today, with many important indicators, especially in Britain. GBP/USD and the Pound crosses will rock today. Let’s see what’s up for today: The upcoming resolution of the Greek crisis sure is helping the Euro by breaking technical levels. EUR/USD is above 1.3750.
Forex Daily Outlook – January 13th 2010
The dollar is certainly fighting back after dropping at the beginning of the week. Today’s most interesting figures come from Britain, which sees more range trading. Let’s review the events for today:
Forex Daily Outlook – December 10th 2009
Get ready for one of the busiest days: rate decisions in Britain and Switzerland, employment numbers in the US and Australia, and much more. Here goes:
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