Forex Daily Outlook – February 19th 2010
The week ends with more important releases: British and Canadian retail sales and American inflation numbers among other releases. Let’s review the events:
Commodity currencies enjoyed a good week, riding on less fear in the markets. Will they manage to close the week higher? In recent weeks, Fridays were quite crazy.
Following the rate decision yesterday, the BOJ releases its monthly report. This might move the yen after the rate decision didn’t have too much impact.
In Europe, purchasing managers’ indices will pour in during the morning. France starts with its Flash Manufacturing PMI and Flash Services PMI. This will be followed by the same data from Germany and then for the whole continent. All the scores are above 50 points, meaning expectations for economic expansion. All the numbers are predicted to edge up. For more details and also technical levels for the Euro, read the EUR/USD forecast.
And there’s more in Europe: German PPI is expected to show a rise of 0.4% in prices, after a drop of 0.1% last month. The European Current Account is expected to turn negative, showing a deficit of 0.6 billion.
In Britain, an eventful week ends with the release of retail sales. British sales are predicted to drop by 0.5%, after rising last months. This might be the direct result of the rise in unemployment reported earlier this week.
Moving across the Atlantic, Canadian retail sales are predicted to jump by 1.1% after dropping last month. Also Core retail sales are expected to rise, but at a more moderate pace – 0.4%. Also note the Canadian Leading Index which is predicted to continue the positive trend and rise by 0.6%.
For more on the loonie, read the Canadian dollar forecast.
In the US, we have a major release to close the week: US Consumer Price Index is predicted to rise by 0.3%, more that last month’s 0.1% rise. Core CPI is expected to rise by 0.2%.
Members of the Federal Reserve began talking about exit strategies from the crisis. These focused on the selling mortgage bonds that the central bank holds. They didn’t talk about a rate hike, which can only come after a significant rise in prices. It probably won’t be seen today.
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 19th 2010
After a holiday in the US, the market return to full gear with a busy day. We have American TIC Long-Term Purchases, a rate decision in Canada, and major events in Britain and Europe. Let’s see what’s up for this long day.
Prices in Britain have been picking up, and this could strengthen the Pound bulls. [...]
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 15th 2009
After an easy start on Monday, a long day awaits forex traders. Lots of American numbers are expected, with the TIC Long-Term Purchases on top. Also note British CPI, German economic sentiment and Australian meeting minutes. Let’s review the events of this busy day:
British RICS House Price Balance starts the day early with an expected [...]
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!
-
-
