Forex Daily Outlook – January 4th 2010
The first trading day of 2010 begins with a rather busy calendar. American ISM Manufacturing PMI will stand out today as well as echoes from Ben Bernanke’s speech late on Sunday. Let’s see what’s up for today.
Ben Bernanke said that low rates aren’t to blame for the house bubble – bad regulation and bad execution of regulation are to blame. Looking to the future, Bernanke mentioned that if regulations won’t stop bubbles, the central bank will step in with the rate tool. Is this a hint for rate hikes?
Moving into Monday, Australia’s AIG Manufacturing Index provides an early indicator for the Aussie. This will be followed by a more important figure: Commodity Prices, which are expected to show a lower year-over-year drop.
For more on the Aussie, check out the AUD USD forecast.
In Switzerland, the SVME PMI is expected to edge up to 57.1 pushing USD/CHF lower.
In Europe, Final Manufacturing PMI is expected to confirm the read at 51.6 points. Sentix Investor Confidence is predicted to edge up, but still remain in the negative zone. The EUR/USD forecast has more, including a technical analysis for this pair.
In Britain, Manufacturing PMI is expected to tick up from 51.8 to 52.1 points. British Net Lending to Individuals is expected to double to 0.6 billion.
Also in Britain, Mortgage Approvals are expected to remain almost unchanged, ticking up to 58,000 this time. For more on the Pound, read the GBP USD forecast.
In the US, the ISM Manufacturing PMI is expected to rise by 53.6 to 54.1 points, something that will put a smile on dollar bulls’ faces. This index has been above the 50 point mark, meaning economic expansion, for the past 4 months.
Also in the US, Construction Spending is expected to drop by 0.4% and a speech from FOMC member Elizabeth Duke could also move the markets.
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.
British Pound Outlook- January 4-8 2010
Looking for the latest outlook, for the current week? Check out the section: GBP USD Forecast
The Pound enjoyed the thin trading volume to rise. Now we’re back to normal. This week is packed with major British releases, with the rate decision being the most important one. Here’s an outlook for the events that will impact [...]
GBP/USD Forecast – November 30 – December 4
Looking for the latest outlook, for the current week? Check out the section: GBP/USD Forecast
A roller coaster week, with a 470 pips trading range ended with the Pound remaining almost unchanged. Purchasing managers’ indices and housing figures are due this week. Will the Pound decide where it’s going? Here’s a weekly outlook for 10 events [...]
Forex Daily Outlook – September 29th 2009
American CB Consumer Confidence and a lot of British figures dominate the scene today. Will EUR/USD recover from the plunge it made this week? Let’s see what’s up for today.
Note: After a ten day vacation, I’m glad to back, and I’;m catching up what I’ve missed in the forex scene.
EUR/GBP Awaiting a Breakout
This morning’s influx of European figures was good, while British numbers were disappointing. This sent EUR/GBP to the high end of the range but didn’t supply a breakout. Will we see EUR/GBP jump?
German job market improving
German Unemployment Change was excellent: The number of unemployed people in Germany fell by 1000 people. The number was expected [...]
British Pound Outlook – August 31 – September 4 2009
After a bad week, the British Pound expects PMI and housing figures this week that will move it. Here’s an outlook for 6 key British events, and a technical analysis for GBP/USD.
GBP/USD Daily forex chart with important lines inside:
GBP/USD lost more than 200 pips in a bad week. One of the biggest blows came [...]
Forex Daily Outlook – July 29th 2009
American Durable Goods Orders and a rate decision in New Zealand are the highlights of this busy day in forex trading.
Australian HIA New Home Sales starts the day. Last month, this figure fell by 5.7%. In New Zealand, NBNZ Business Confidence is an important release that will give a broad view over the economy.
A bigger event for [...]
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!
-
-
