Forex Daily Outlook – March 17th 2010
Another busy day expects forex traders: a rate decision in Japan, employment figures in Britain and Ben Bernanke for dessert are among the events today. Let’s see what’s on the menu.
The most popular pair, EUR/USD, recently enjoyed some gains, but didn’t breach significant technical levels. I see it as a rise before the fall. What do you think? Anyway, let’s start the review:
Japan provides a strong start to the day with a rate decision. The Overnight Call Rate isn’t expected to move from 0.1%. It will be interesting to see how the Monetary Policy Statement will be: the wording will shake the yen. Afterwards, the BOJ will hold a press conference, and this will also shake the yen.
At the end of the day, Japan’s BSI Manufacturing Index is expected to rise to 15.3 points.
Busy day in Britain today: the Claimant Count Change is expected to show a rise of 8,700 jobs after a disappointing rise of 23,500 jobs last time. The Unemployment Rate, which relates to the month of January, is expected to remain unchanged at 7.8%.
At the same time, the MPC Meeting Minutes will be released. They’re expected to show if any of the bankers voted to expand the Quantitative Easing program, after 200 billion pounds were used.
For the Pound’s technical levels, read the GBP/USD forecast.
In Europe, the only event due today is a speech by Axel Weber, the leading candidate to replace Trichet as the president of the ECB. For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Canada, Wholesale Sales are expected to rise by 0.6%, following a rise of 0.7% last month. The Canadian dollar holds on to its gains at the moment. For more, read the USD/CAD forecast.
In the US, producer prices will move the dollar. After a jump of 1.4%, PPI is expected to drop by 0.2% this time, indicating that no inflation is in the horizon. Also Core PPI is predicted to remain mild – a small rise of 0.1%.
One day after the rate decision, Ben Bernanke testify alongside Paul Volcker, a former head of the Federal Reserve, about the the central bank’s powers and the meaning for monetary policy. While the agenda isn’t rates, Bernanke can always shake the markets.
Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.
Forex Weekly Outlook – March 15-19
The dollar retreated in the past week on most fronts. Was it a temporary move? The upcoming week provides lots of American events, with Ben Bernanke’s rate decision being the highlight. Here’s an outlook for this week’s market-moving events.
In the forex industry, the proposed regulations by the CFTC are again in the news, as their [...]
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 [...]
Forex Daily Outlook – January 26th 2010
After a slow day, we have a very busy day today, starting with a rate decision in Japan. Then, we’ll get to know if Britain exited the recession, an important European survey will shake EUR/USD and American consumer confidence will move the dollar. Let’s see what’s up today:
Apart from the regular economic releases, a second [...]
Forex Weekly Outlook – January 25-29
A busy week is ahead of us: rate decision in the US, Japan and New Zealand and GDP releases from the US, UK and Canada are part of an eventful week. Will we see more dollar strength? Here’s an outlook for the last week of January.
Beginning on Wednesday, the World Economic Forum meets in Davos, [...]
Forex Daily Outlook – December 18th 2009
This turbulent week comes to an end with a Japanese rate decision and important releases from Britain and Germany. Let’s see what’ up for today:
Britain starts the day with the release of the GfK Consumer Confidence which is expected to rise after a disappointing fall last month to -17 points. Note that this confidence indicator [...]
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 [...]
Popular Forex Posts
Daily FX Headlines- Trade with at least a 1:2 Risk Reward Ratio March 17, 2010
- New Zealand Dollar Continues to Outperform, Euro Lags Behind March 17, 2010
- Australian Dollar Nearing Trendline; Watch 9265 03-17 March 17, 2010
- Light Crude 03-17 March 17, 2010
- Gold 03-17 March 17, 2010
Stay up to date!
-
-
