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.
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Forex Daily Outlook – March 15th 2010
After the dollar retreated last week, Monday opens with many US releases. TIC Long-Term Purchases will probably shake the market, among other events. Let’s see what’s up for today:
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EUR/USD Outlook – March 15-19
EUR/USD made some gains, enjoying greenback weakness. The upcoming week contains 7 events that will move the Euro. Here’s an outlook for these events and an updated technical analysis for EUR/USD.
EUR/USD chart with support and resistance lines marked. Click to enlarge:
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EUR/USD Outlook – March 1-5 2010
EUR/USD finally had a positive week and gained some ground. It’s now facing a very busy week, with the rate decision being the climax. Here’s the outlook for the European events, and an updated technical analysis for EUR/USD.
EUR/USD chart with support and resistance lines marked. Click to enlarge:
Even though this week is crowded with economic [...]
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.
Forex Daily Outlook – February 15th 2010
The week starts with a strong note, with Japanese GDP. And there are a few more events to watch out for. Here’s the daily outlook.
EUR/USD made a swing move downwards on Friday but closed above 1.3580. Where will it go this week? Check out my EUR/USD forecast for the events that will move the Euro, [...]
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