Forex Daily Outlook – February 18th 2010
Yet another busy day expects traders: a rate decision in Japan, American PPI, and American jobless claims stand out. There are many other events as well.
The Greek crisis is fading away. EUR/USD isn’t the only pair to enjoy this. Also commodity currencies are on the rise, enjoying risk appetite trading. There are no releases today in Europe, but headlines regarding Greece might still appear. Let’s start the review:
The Bank of Japan is expected to leave the Overnight Call Rate unchanged at 0.10%. The yen will move by the wording of the Monetary Policy Statement that might include a revised forecast of the economy, and by the sentiment that will be felt in the accompanying BOJ Press Conference.
In Australia, the NAB Quarterly Business Confidence is expected to show a positive number, following last quarter’s score of 16 points. On the other side of the day, RBA governor Glenn Stevens will make a public appearance and will probably shake the Aussie as well.
For more on the Aussie, read the AUD/USD forecast.
In Switzerland, Trade Balance is expected to show a bigger surplus – 1.8 billion. Later, the ZEW Economic Expectations figure for Switzerland will be released. The last score of 56.2 points will probably be followed by something similar. This score is better than Germany and the EU.
The SNB doesn’t like these positive figures – they want a weaker Franc.
After inflation and employment, today we have a lighter British release: CBI Industrial Order Expectations which are predicted to edge up from -39 to -35. Later in the day, BOE Executive Director Paul Fisher will make a public appearance and might lay out future policy. For the Pound’s technical levels, read the GBP/USD forecast.
In Canada, inflation went back to normal after one month of strong rises. Also now, CPI is predicted to to rise by 0.3% and Core CPI by 0.1% – modest rises indeed. These follow drops last month.
Also in Canada, Foreign Securities Purchases which have jumped to 10.5 billion last month, are expected to drop to 7.5 billion. This still reflects confidence in the Canadian economy. For more on the loonie, read the USD/CAD forecast.
In the US, Unemployment Claims fell to 440K last week, and they’re predicted to edge up to 445K. Another fall could convince everybody that we’ll have a positive NFP this time.
American producer prices are predicted to leap – after rising by 0.4% last month, a jump of 0.8% is expected this time. Core PPI is predicted to be more moderate – a rise of 0.2%.
Later in the US, the Philly Fed Manufacturing Index is predicted to follow the Empire State Manufacturing Index earlier this week and rise from 15.2 to 17.2 points. This is usually a serious market-mover. Also in the US, CB Leading Index is predicted to rise by 0.6%.
For another technical look at EUR/USD, check out Casey Stubbs’ article.
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.
USD/CAD Outlook – February 15-19
In the past week, the loonie gained nice ground against the greenback. The upcoming week provides many important indicators. Here’s an outlook for the Canadian events and an updated technical analysis for USD/CAD.
USD.CAD graph with resistance and support lines marked. Click to enlarge:
The most important release is CPI. Can prices pick up and accelerate the [...]
USD/CAD Rises on Unchanged Policy
The Bank of Canada left the interest rate unchanged and more importantly – left the forecast unchanged. Without an upcoming rate hike, the Canadian dollar loses ground to the greenback.
Mark Carney likes clear messages. In the headline provided with the rate statement he “reiterates conditional commitment to hold current policy rate until the end of [...]
Forex Daily Outlook – January 18th 2010
The week starts slowly with a holiday in the US for Martin Luther King’s day. We have a few indicators elsewhere before the market returns to full gear. Here’s the outlook.
While the market’s volume is low due to an American holiday, another issue troubles American dealers – the CFTC 1:10 leverage limit – something that [...]
USD/CAD Outlook – January 18-22
Looking for the latest outlook for this week? Check the full section: Canadian Dollar Forecast
The Canadian dollar tested new ground but closed the week almost unchanged. The upcoming week is quite busy, with a rate decision being the highlight. Here’s an outlook for the 8 events that await the Canadian dollar, and an updated technical [...]
Forex Daily Outlook – December 17th 2009
Life goes on after the FOMC Statement which creatively left the market unchanged. Today’s highlights are British retail sales, Canadian CPI and American jobless claims. Let’s see what’s up for today in forex trading:
There are no significant events in Europe today, but I recommend reading Casey Stubbs’ article about the dollar strength and the Euro.
A day after [...]
USD/CAD Forecast – December 14-18
Looking for the latest outlook for this week? Check the full section: Canadian Dollar Forecast.
The Canadian dollar managed to remain stable in another week of greenback strength. The upcoming week contains important inflation figures and 7 more events that will shape the loonie’s direction. Here’s an outlook for the upcoming week, and an updated technical [...]
Popular Forex Posts
Daily FX Headlines- Forex Weekly Trading Forecast - 03.15.10 March 13, 2010
- Dollar Threatens a Plunge but Fundamentals Could Prevent a Renewed Bear Trend March 13, 2010
- Price Action Points to a Bullish Breakout but Market Fundamentals May Force a Collapse March 13, 2010
- Has Crude Taken the First Step Towards a Breakout and Reversal? March 13, 2010
- Swiss Franc Vulnerable As SNB Threat Grows March 13, 2010
Stay up to date!
-
-
