Forex Daily Outlook – January 27th 2010

Another busy day is awaiting forex traders, with a rate decision in the US being the highlight. There are important figures today from all over the world. Let’s see what’s up for today.

Apart from the scheduled releases, note that the World Economic Forum talks start today in Davos, Switzerland. Statements from there can move the markets as well.

Australian CPI provides a strong start to the day. It’s predicted to rise by 0.4%, less than 1% that was printed last quarter. After PPI disappointed with a drop, a weaker number sure is possible. Also note the Trimmed Mean CPI, or Core CPI, which is predicted to rise by 0.6%.

This release critical for the rate decision next week. For more on the Aussie, read the AUD/USD forecast.

Following the rate decision in Japan and the downgrade by S&P, the BOJ Monthly Report could give a dark picture of the Japanese economy, despite the easing of deflation. On the other side of the day, Japanese Retail Sales are predicted to rise this time – by 0.3%.

German Prelim CPI will be released from the various German states during the the day. After last month’s 0.8% rise, a drop in prices is predicted this time. For more on the Euro, read the EUR/USD forecast.

In Britain, the day after the weak growth report brings another important figure: CBI Realized Sales. It’s expected to drop from 13 to 11 points, after a few good months. Also in Britain, MPC member Andrew Sentance will be speaking today.

For more on the GBP/USD, read the British Pound forecast.

In the US, Treasury Secretary Geithner will make a public appearance and might shake the markets. American New Home Sales are expected to recover from the blow they got last time, as they dropped to 355K. The number is expected to rise to 372K. This might have a muted impact, as a bigger American event is due later.

The Federal Reserve is expected to leave the interest rate unchanged at a maximum rate of 0.25%. Ben Bernanke is also expected to leave the wording of the FOMC Statement unchanged, with a renewed pledge to leave the rates low “for an extended period of time”.

Last month, it took the markets 6 hours to digest the statement before moving. It sure was confusing.

Also in New Zealand, the central bank makes a rate decision. Alan Bollard’s RBNZ isn’t expected to lift the Official Bank Rate above 2.5%. Prospects for the future might be hinted at the RBNZ Rate Statement. NZD/USD is getting close to 0.70 – a critical line for it.

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.

Britain’s Hiring – Pound Unexcited

British employment figures supplied a big surprise by turning around! Less people asked for unemployment benefits, after 18 months of rises. This hardly moved the Pound. Not really. Everybody is waiting for Ben Bernanke. These numbers could help the Pound later.

British Claimant Count Change fell for the first time this year: The number of people [...]

Fed Decision – No Middle Ground

There is no consensus about the outcome of the FOMC Meeting. This makes any decision a market major market mover. The option of a calm reaction in the forex market doesn’t exist. Here’s a preview for the upcoming FOMC meeting.

Forex Weekly Outlook – December 14-18 2009

The upcoming week in forex trading has the FOMC meeting in the limelight. In addition, British employment figures, Australian GDP and inflation data from all over the world will dominate the scene, in the last full trading week of the year. Here’s a review of the major events in the upcoming week.
American Non-Farm Payrolls, that [...]

Exit Strategies Expose Pound Weakness

Both the Federal Reserve and the ECB began moves to soften the stimulus actions – the start of an exit strategy out of the crisis. This doesn’t happen in Britain. Britain still suffers from a bad data – and this leaves the Pound behind – again.
In the monthly rate decision there was no surprise about [...]

Forex Weekly Outlook – November 30 – December 4 2009

The week of Thanksgiving, which was expected to be calm, was very volatile, with new lows in the dollar, that were proved temporary with the Dubai crisis. The upcoming week is already full of important indicators: rate decision in Europe and Australia, GDP from Europe, Switzerland and Canada, and the king of forex: American Non-Farm [...]

Forex Weekly Outlook – November 23-27 2009

After a week of renewed dollar strength, the upcoming week provides second releases of GDP in many countries, American Durable Goods Orders and home sales and other figures as well. The beginning of the week is crowded, and then trading will be light as Americans celebrate Thanksgiving. Here’s the weekly outlook.
The Aussie and the kiwi [...]

keep looking »

  • 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 32 access attempts in the last 7 days.