Forex Daily Outlook – February 16th 2010
After a rather easy day, the calendar is busy again: British inflation numbers, German ZEW Economic Sentiment and American TIC Long-Term Purchases are the highlights. Let’s start:
In Australia, we’ll get to see why the RBA didn’t raise the rates as expected. The Monetary Policy Meeting Minutes might also reveal future policy.
Also in Australia, NAB Business Confidence is expected to remain stable at around 8 points and RBA Assistant Governor Guy Debelle will make a public appearance, and might add to the meeting minutes. For more on the Aussie, read the AUD/USD forecast.
In Britain, inflation is expected to exceed the government’s target of 1-3% and to provide a test for BOE Governor Mervyn King that dismissed the rising inflation. CPI is predicted to rise in an annualized rate of 3.6%, much more than last month’s 2.9% rise.
Core CPI is also predicted to rise to 3.2% after 2.8% last month, and RPI, which was negative for many months, is predicted to leap from 2.4% to 3.8%.
If these expectations are met, King is obliged to issue an open letter that will detail the reasons for this situation and the measures that will be taken to address it.
For more on the Pound, read the GBP/USD forecast.
In Europe, ZEW Economic Sentiment will shake the Euro. This important survey always has a strong impact. In recent months, it fell down. This trend is predicted to continue. The German ZEW Economic Sentiment is predicted to drop from 47.2 to 42.6 points, and the all-European figure is predicted to go from 46.4 to 42.6 points.
The Euro continues to struggle, especially due to the Greek debt problems. For more, read the EUR/USD forecast. For an interesting technical analysis, read Casey Stubbs’ latest analysis.
In Canada, an eventful week begins with the release of Manufacturing Sales, which are predicted to rise by 2.1%. USD/CAD tumbled down last week. Check out the Canadian dollar forecast for more.
American Empire State Manufacturing Index is expected to rise from 15.9 to 17 points, showing more improvement for the US economy. TIC Long-Term Purchases usually shake the market – after leaping to 126 billion last month, they’re expected to cool down to 50 billion. This represents the cash flow into the US – confidence in the economy.
Later in the US, Federal Reserve Bank of Kansas President Thomas Hoenig will make a public appearance. Hoeing is a known “hawk”, so talks about raising the rats probably won’t surprise the listeners.
Near the end of the day, Japan’s Tertiary Industry Activity will be released, and it’s expected to drop by 0.2%. The good GDP result failed to lift the yen yesterday.
That’s it for today. Happy forex trading!
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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 [...]
Forex Daily Outlook – January 20th 2010
Another busy day is awaiting us: American Building Permits and British employment numbers are the highlights. Let’s see what’s up for today.
Note the journey down of EUR/GBP, which moves by strong British figures and weak European ones.
Arabic version of this post
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 16th 2009
A very long day expects forex traders, with the FOMC meeting in the limelight. Also note British unemployment, Australian GDP, and many more important figures. Let’s see what’s awaiting us:
Forex Daily Outlook – November 16th 2009
The dollar started the week lower on more world recovery, this time from Japan. Today’s American retail sales, a speech by Bernanke and European inflation (or deflation) numbers are the highlights of the day. Let’s see what’s awaiting us today:
Japan’s preliminary release of third quarter GDP was excellent: Gross Domestic Product rose by 1.2%, much [...]
Canadian Dollar Outlook – November 16-20 2009
Looking for the latest outlook for this week? Check the full section: USD/CAD Forecast.
The Canadian dollar was the big winner of the past week, with USD/CAD breaking a support line. This week’s CPI and 5 other events will shape the direction of the loonie. Here’s an outlook for the upcoming events in Canada, and an updated [...]
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