In the US, New Home Sales expected to drop 69K this month reaching 435K after the sharp rise in May’s report.

More in the US, Federal Open Market Committee statement is issued providing data on monetary policy.

Finally in the US, Federal Funds Rate measuring interest rate at which banks lend balances held at the Federal Reserve to other banks overnight is expected to remain 0.25% and Crude Oil Inventories expected to remain 1.7M as last week.

In Canada, Following the rise in May, Core Retail Sales are likely to remain unchanged this month reaching 1.7% the same as Retail Sales is expected to remain around 2.1%.

For more on USD/CAD, read the Canadian dollar forecast.

In Europe, French Flash Manufacturing PMI expected to drop from 55.8 to 55.5 and French Flash Services PMI is also expected a slight decrease of 0.2 points.

More in Europe, GfK German Consumer Climate is foreseen a drop of 0.2 points but all in all it is pretty steady in the last few months, German Flash Manufacturing PMI is also expected to descend from 55.8 to 55.3 and German Flash Services PMI assumed to decrease by 0.3 points since previous month.

Also in Europe, Belgium National Bank of Belgium (NBB) Business Climate, rising up from -4.9 to -5.1 on a survey that measures the Level of a composite index based on surveyed manufacturers, builders, services and trade-related firms of about 6,000 businesses which asks respondents to rate the relative level of current business conditions and expectations for the next 6 months.

Finally in Europe, Flash Manufacturing PMI is expected to drop points reaching 55.5 and Flash Services PMI is likely to stabilize on 56.2 as in May.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.

In Great Britain, Bank of England Monetary Policy Committee has once again decided to maintain rates at 0.50%.

More in Great Britain, BBA Mortgage Approvals are expected to continue their growth from 35.7K to 37.3K bringing optimism to the housing market.

Later in Great Britain, CBI Realized Sales is expected to go up by 1 point reaching -17 following the steep fall from May.

Read more about the Pound in the GBP/USD forecast.

Moving to New Zealand,  Current Account that is that is released quarterly and measures the difference in value between imported and exported goods; is about to rise up from -3.75 Billion on the previous quarterly to -0.30 Billion.

In Japan, Bank of Japan (BOJ) Governor Masaaki Shirakawa, speaks at the Annual General Meeting of the Credit Cooperatives, in Tokyo; as head of the central bank, affects the controls short term interest rates.

More in Japan, Trade Balance drop down from 0.73 T to 0.64 T, Released monthly and measures the difference in value between imported and exported goods during the reported month.

That’s it for today. Happy forex trading!

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Group of Twenty (G20); while it’s not an institution, the G20 is an influential global policy-making body operating at the highest level, and their initiatives and policies can impact the currency markets.

In the US, Producer Price Index (PPI); indicating change in the price of finished goods and services sold by producers, is expected to drop down by 0.2%. And Core Producer Price Index (PPI) is expected to follow.

Later in the US, Existing Home Sales, Annualized number of residential buildings that were sold during the previous month, is expected to rise by 0.26M, and the Unemployment Claims expected to drop down by 32K.

Finally in the US, President Barack Obama will speak about Wall Street Reforms at the Cooper Union, in New York;

In Canada, Bank of Canada (BOC) releases the Monetary Policy Report that provides valuable insight into the bank’s view of economic conditions and inflation. This is  followed by a Press Conference. It’s among the primary methods the BOC uses to communicate with investors regarding monetary policy.

More in Canada – Leading Indicators, the change in the level of a composite index based on 10 economic indicators – will probably be similar this time.

For more on USD/CAD, read the Canadian dollar forecast.

In Europe, French Flash Manufacturing PMI and Services PMI are both expected to rise slightly. Then, German Flash Manufacturing PMI and Services PMI will probably remain almost unchanged. The all-European figure will complete the picture.

Also in Europe, ECB President Jean-Claude Trichet speaks; as head of the ECB, which controls short term interest rates, he has more influence over the euro’s value than any other person.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.

In Great Britain, Public Sector Net Borrowing, Difference in value between spending and income for public corporations, is  expected to rise up from 12.1B to 24.1 B – there are both debt and investment implications;

More in Great Britain, Retail Sales expected to drop off by 1.4%, It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity; good for currency.

Later in Britain, the relative level of order volume expected during the next 3 months; Level of a diffusion index based on surveyed manufacturers  expected to be -32 in comparison to the previous -37

Finally in Britain, Number of new mortgages approved for home purchases during the previous month; expected to rise from 48K to 51 K

Read more about the Pound in the GBP/USD forecast.

In Switzerland, the Trade Balance value, difference in value between imported and exported goods during the reported month is expected by 0.5 B. Also note the Swiss ZEW Economic Expectations.

In Aussie, New Motor Vehicle Sales, Change in the number of new cars and trucks sold domestically will impact the currency.

For more on the Aussie, read the AUD/USD forecast.

In Japan, Bank of Japan (BOJ) Governor Masaaki Shirakawa speaks. As head of the central bank, which controls short term interest rates, he has important influence over the nation’s currency value.

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.

EUR/USD continues to trade above the gap. While this is a sign of strength, the resolution to the Greek crisis is not fully realized, and the implications to the other countries could still weigh on the Euro. OK, let’s start the review:

Australia’s Westpac Consumer Sentiment starts the day. After a strong start to the week, the Aussie is struggling again.

For more on the Aussie, read the AUD/USD forecast.

In Japan, BOJ Governor Masaaki Shirakawa will speak at a conference in Tokyo, and he can shake the Yen – possibly sending it lower.

European Industrial Production is expected to rise by 0.2% following a rise of 1.7% last month.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs‘ latest analysis.

Many American figures

American retail sales are expected to make a move forward: a rise of 1.1% will probably follow last month’s 0.3% rise. Core retail sales, which are no less important, are expected to rise by 0.5%, less than last month’s rise.

At the same time, consumer prices are predicted to provide another month of boredom – a rise of 0.1% is expected to follow last month’s stagnation. Core CPI will probably rise by 0.1%, the same as last month.

Later in the US, Business Inventories are predicted to rise by 0.3% after being unchanged last month. At the same time, 14:00 GMT, Ben Bernanke will begin his testimony in front of the Joint Economic Committee of Congress. If he makes some remarks about the economy in general, or the Chinese yuan, the markets will move.

Later in the US, the Beige Book will give an overview of the American economy, showing us what the Federal Reserve sees. Also note a speech by FOMC member Sandra Pianalto.

Just before the day ends, British Nationwide Consumer Confidence, a figure delayed from last week, is predicted to edge up from 80 to 81 points.

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

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The tension towards Friday’s Non-Farm Payrolls continues to mount. The dollar, that had a rough beginning to the week, is correcting the losses. Will this trend continue?

Australia’s Trade Balance starts the day with an expected rise of its deficit from 1.18 to 1.37 billion. Commodity prices will probably show a smaller year-over-year drop this time. Yesterday’s Australian figures were quite disappointing. Retail Sales and Building Approvals hurt the Aussie.

Another figure that will impact the Australian dollar is the Chinese Manufacturing PMI, which is expected to rise. China is Australia’s main trade partner. For more on the Aussie, read the AUD/USD forecast.

In Japan, BOJ governor Masaaki Shirakawa will make a public appearance a short time after the Tankan Manufacturing Index is released and at the beginning of a new fiscal year. He might shake the weakening Yen.

One day after Germany posted a big drop in unemployment, retail sales are due to rise by 0.1%. Also in Europe – Final Manufacturing PMI will probably confirm the initial read of 56.3 points.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.

In Switzerland, the SVME PMI will probably rise from 57.4 to 58.9 points, pushing the Swissy higher.

In Britain, Manufacturing PMI is expected to edge up from 56.6 to 56.8 points. This figure always rocks the Pound. Also in Britain – the BOE Credit Conditions Survey can show better conditions.

Read more about the Pound in the GBP/USD forecast.

In the US, Challenger Job Cuts will give some general indication about the NFP. A bigger hint comes from the weekly Unemployment Clams which are predicted to edge down from 442K to 440K. This figure has proved correct in predicting the Non-Farm Payrolls.

Later in the US, ISM Manufacturing PMI is expected to rise from 56.5 to 57 points, showing a continuing steady recovery. This release will shake the markets.

Also in the US: Construction Spending is expected to drop by 1.1%, ISM Manufacturing Prices are predicted to rise to 67.3 points and two FOMC members will speak: James Bullard and William Dudley.

That’s it for today. Happy forex trading!

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EUR/USD, the most popular pair is suffering losses. Casey Stubbs keeps up with the moves with fresh analysis all the time.

In Britain, GfK Consumer Confidence is predicted to rise from -19 to -18. Later in Britain. the important Nationwide HPI is due. It’s predicted to rise by 0.4%, exactly as last month. Will this take the Pound out of the current range? For more on GBP/USD, read the British Pound forecast.

The governor of the Bank of Japan, Masaaki Shirakawa, will make a speech in Tokyo, and might shake the Yen following the release of yesterday’s figures.

Australian Private Sector Credit is expected to show another month of a small rise. The Aussie manages to keep above the major support line of 0.8950, ahead of the rate decision next week. For more on the Australian dollar, read the AUD/USD forecast.

In Switzerland, the KOF Economic Barometer is predicted to edge up from 1.68 to 1.72, easing the Swissy’s losses against the dollar.

In Europe, M3 Money Supply will supply a warm up from more market-moving events later. It’s predicted to squeeze for another month.

Europe’s inflation is expected to pick up from an annual rise of 0.9% to 1.2%. Such a move will help the Euro, as a rate hike will become more near. This is only the initial CPI Flash Estimate, but it’s usually correct.

At the same time, this rise may be offset by the European Unemployment Rate. Last month, this figure jumped to 10% and hurt the Euro before the NFP.

No good news are predicted from this important number: it’s predicted to rise to 10.1%, more than in the US. This might push the Euro/Dollar towards 1.3750. For more on the Euro, read the EUR/USD forecast.

In Canada, monthly GDP is released together with the American one. GDP for the month of November is expected to rise by 0.3%, more than October’s 0.2% rise. This might halt the gains of the USD/CAD, but this figure isn’t alone. Canada’s RMPI is expected to rise by 1.5%, less than last month’s rise.

Read more about the technical lines for USD/CAD in the Canadian dollar forecast.

American GDP is predicted to rise by an annual rate of 4.5% in Q4. This strong rise will sure give hope, and might remove the bad taste from last month’s Non-Farm Payrolls. Note that this is the initial print, and that in Q3, we’ve seen an initial print of 3.5% and it was later fixed to 2.2%. So, we should take it with a grain of salt.

Also in the US, Chicago PMI is predicted to step down from 58.7 to 57.2, and the Revised Consumer Sentiment from the University of Michigan is predicted to rise from 72.8 to 73.2. These releases will be overshadowed by the GDP.

That’s it for today, this week, and this month. Happy forex trading!

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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 will significantly hurt the American forex industry.

The first Australia’s MI Inflation Gauge. It is expected to remain almost unchanged after rising by 0.3% last time. For more on the Aussie, read the AUD/USD forecast.

In Japan, the governor of the central bank, Masaaki Shirakawa is expected to make a public appearance. He might relate to the new finance minister.

In Britain, the Rightmove HPI fell by 2.2% last month, and can rise this time. Britain is seeing better economic conditions lately. For more on GBP/USD, check out the British Pound forecast.

In Canada, Foreign Securities Purchases are expected to remain rather stable at 5.23 billion C$. This release comes a day before the important rate decision. You can find more about the falling USD/CAD in the Canadian dollar forecast.

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.

Apart from the majors, I’ll be watching EUR/GBP after its breakout.

Monday, January 18th: It’s Martin Luther King Day in the US – this means that trading volume will be weak and the calendar uncrowded. The only notable major event is a speech by BOJ Governor Masaaki Shirakawa.

Tuesday, January 19th: British CPI is expected to continue rising, pushing the Pound higher. Core CPI is also predicted to rise.

In Europe, the German ZEW Economic Sentiment is expected to remain almost unchanged. Last month’s drop in the ZEW Economic Sentiment sent the Euro down.

The Bank of Canada makes a rate decision that isn’t expected to move the Overnight Rate from the low level of 0.25%. But since many Canadian indicators are improving, including inflation, Mark Carney could change the BOC Rate Statement and talk about a rate hike sooner than the current expectations – June 2010.

In the US, TIC Long-Term Purchases are expected to rise, showing confidence in the dollar. This major indicator show the flow of cash in or out of the US.

New Zealand’s quarterly CPI is predicted to remain unchanged, hurting the current run of NZD/USD.

Wednesday, January 20th: British Claimant Count Change is expected to remain unchanged, after dropping last month. The rise last month was the first in a long time – a turnaround. Also note the British Unemployment Rate, which is a late but important release.

British MPC Meeting Minutes are also important for the Pound. The money is running out of the British Quantitative Easing program, as mentioned int the rate decision. Cautious recovery will probably be heard there.

Canadian CPI is expected to rise very slowly, after a nice rise last month.

In the US, two housing figures aren’t expected to move: Building Permits and Housing Starts are expected to remain unchanged. American PPI is expected to ease after rising lat month.

In New Zealand, Retail Sales are expected to rise in a faster pace than last month.

Thursday, January 21st: Chinese news have a growing impact on forex trading. Chinese GDP is expected to show a strong 10.5% growth rate, much higher than last quarter. Also note Chinese Industrial Production. Both figures have a strong impact on the Aussie, which enjoys strong employment numbers.

In Britain, CBI Industrial Order Expectations are expected to improve, while Public Sector Net Borrowing isn’t expected to move.

After the disappointing NFP, US Unemployment Claims have bounced off the bottom, and are expected to remain unchanged at 444K. The Philly Fed Manufacturing Index which has leaped in the past two months is predicted to drop to 18.3 points.

Friday, January 22nd: Purchasing managers’ indices from Europe will pour in – first in France, then in Germany and then for the whole continent. Most of the number are predicted to improve.

British Retail Sales are expected to rise by 1.4% after a drop last month. Also Canada releases retail sales which are expected to rise by 0.3%, less than last month.

That’s it for the major events of the week. I’ll later post specific currency coverages.

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European figures start arriving today: the GfK German Consumer Climate is expected to tick down to 3.6 points. This follows similar eases last week. Check out Casey Stubbs’ analysis for this pair, as it struggles in lower ground.

Later, the NBB Business Climate will arrive from Belgium. It’s expected to advance from -8.8 to -4.3 points, still in the negative zone.

For more on this week in the Euro, check out the EUR USD forecast.

In Japan, BOJ Governor Masaaki Shirakawa will be speaking just before Japan goes on holiday to celebrate the emperor’s birthday. Swiss Trade Balance is predicted to show a growing surplus, something that will push the Swissy higher.

British Current Account is predicted to show a smaller deficit, of only 8.1 billion pounds. This is expected to help the Pound rise higher.

At the same time, Final GDP is released in Britain. After the Q3 disappointed with the news of an ongoing recession with a contraction of 0.4%, the revised version showed a better number – a 0.3% contraction. The third and final release is predicted to show that the British economy shrank by only 0.1% in Q3.

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

Also in the US, Final GDP is due. Here, the initial release showed an annual growth rate of 3.5%, but this was revised sharply down to 2.8%. The final release is expected to repeat the revised version – 2.8% growth in Q3.

Later in the US, Existing Home Sales will impact currency trading: they are expected to rise from 6.10 to 6.31 million, after jumping last time.

New Zealand closes the day with its own GDP release for Q3. Growth is expected to accelerate to 0.4%, after a 0.1% growth in Q2. NZD/USD will shake on any result.

That’s it for today. Happy forex trading!

Want to see what other traders are doing in real accounts? Check out Currensee

Arabic version of this post

In New Zealand, Building Consents are expected to continue rising after a big jump of 3.3% last month. In Australia, the MI Inflation Gauge is expected to show a slow rise in prices. Private Sector Credit, a more important figure, is predicted to rise by 0.2%, after falling last month.

Another important figure from Australia is the HIA New Home Sales, which disappointed by falling last month. Also note the AIG Manufacturing Index.

For more on the Australian dollar, check out the AUD USD forecast.

The Chairman of the Swiss National Bank is expected to speak amidst rumors of intervention in the forex market. Jean-Pierre Roth might shed some light on the SNB’s moves.

In Japan, Prelim Industrial Production is expected to rise another 2.5%, following last month’s rise. Average Cash Earnings are predicted to drop for another month, this time by 1.7%.

The head of the BOJ, Masaaki Shirakawa is under pressure to intervene in the forex markets after USD/JPY reached 14 year lows. He will be speaking in a conference in the city of Nagoya.

In Britain, GfK Consumer Confidence is expected to improve, but to remain in the negative zone, at -11 points. Later in Britain, Net Lending to Individuals is expected to grow marginally to 0.8 billion. Mortgage Approvals are also predicted to rise.

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

In Europe, the CPI Flash Estimate is finally expected to show a rise in prices, after many months of decline. Europe needs to get out of its deflation in order to allow a rate hike. For more on the Euro, read the EUR/USD forecast.

Canadian GDP, that disappointed last month, is expected to push forward and rise by 0.4%. Another interesting figure for loonie traders is the RMPI (Raw Materials Price Index), which is expected to rise by 2.9%.

For more on USD/CAD, read the Canadian dollar forecast.

In the US, the first indicator for this week is the Chicago PMI. This purchasing managers’ index is predicted to edge down from 54.2 to 53.1, and still remain above 50, in the positive zone.

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Here’s the Arabic version of this daily forex forecast.

British Nationwide Consumer Confidence is expected to edge up from 71 to 72 points, and show that Brits are still confident about their economy.

Later in Britain, Services PMI is predicted to edge up as well, from 55.3 to 55.4 points. After Manufacturing PMI surprised with a big jump on Monday, it could be higher here as well.

Tensions towards the rate decision on Thursday grows. For more on the British Pound, read the GBP/USD Forecast.

The rate decision yesterday didn’t help the Aussie, that slipped below the support line. Today, Building Approvals are expected to rise by 2.4% after a 0.1% drop last time. At the same time, Retail Sales are published, and are no less important: they’re expected to post a 0.5% rise, less than last month’s 0.9% jump.

For more on the Aussie in this busy week, read the AUD/USD Forecast.

In Japan,, a speech by BOJ Governor Masaaki Shirakawa is due. At the end of day, Monetary Policy Meeting Minutes are published. Big news isn’t expected. It seems that the Yen moves mostly by risk aversion / risk appetite than by Japanese economic indicators.

In Europe, PPI is predicted to drop by 0.3%, after rising last time. Deflation is a problem in Europe. EUR/USD failed to breach the resistance line on Monday, and is now in lower places.

For more on the Euro, read the EUR/USD Forecast.

In Canada, BOC Deputy Governor John Murray will speak today, and might help the loonie regain some of its losses. Employment figures await the Canadian dollar later this week. Check out the USD/CAD Forecast for more.

In the US, ADP Non-Farm Employment Change, the “small Non-Farm Payrolls”, is expected to show a loss of 180K jobs, less than last month’s drop of 254K jobs. Only a positive number will significantly move the markets. In such a case, the dollar will fall.

Later, ISM Non-Manufacturing PMI is expected to rise from 50.9 to 51.6 points. On Monday, the ISM Manufacturing PMI, the twin indicator surprised with a great leap.

Ben Bernanke is expected to leave the interest rate unchanged.The Federal Funds Rate is predicted to stay at the rock bottom rate that was set in December. No rate hike is expected soon. Due to the doubts about the recovery, and the big bankruptcy of CIT, an expansion of the bond buying program could happen. In March, such a decision sent the dollar down for a very long time. Will the FOMC statement bring any drama?

In New Zealand, quarterly Employment Change is expected to drop by 0.3%, following last quarter’s 0.4%. Such a figure would justify Alan Bollard’s decision not to raise the interest rates. The accompanying figure,Unemployment Rate, is expected to jump to 6.4%, from last quarter’s 6%. NZD/USD has lost a lot since the rate decision, that didn’t meet expectations.

That’s it for today. Happy forex trading!