Forex Daily Outlook – August 27 2010

U.S. Gross Domestic Product and Jackson Hole Economic Symposium are the main economic events of this trading weekend. Join us for an outlook on today’s market moving events.

In the U.S., Gross Domestic Product, the main measure of economic activity and growth expected a modest growth of 1.5% in the 2nd quarter compared to 2.4% q/q growth in the first and Prelim GDP Price Index is expected to remain 1.8% as in the previous quarter.

More in the U.S., Federal Reserve Chairman Ben Bernanke delivers a speech titled “The Economic Outlook and the Federal Reserve’s Policy Response” at the Federal Reserve Bank of Kansas City’s Economic Symposium, in Jackson Hole can create significant market volatility.

Finally in the US, Consumer Sentiment, the University of Michigan’s monthly survey of 500 households on their financial conditions and outlook of the economy is expected to a small rise to 69.9 from 67.8 in the previous month and Revised UoM Inflation Expectations reached 2.7% in July is expected to remain the same this month.

Jackson Hole Economic Symposium second and third days attended by central bankers, finance ministers, academics, and financial market participants from around the world. Comments and speeches from central bankers and other influential officials can create significant market volatility this Could Have Wide-Ranging Implications on all markets.

In Europe, German Preliminary Consumer Price Index an indicator of inflation is forecasted 0.2% growth following 0.3% in the previous month and German Import Prices also contributing to inflation is foreseen a small increase of 0.1% after 0.9% rise in the previous month.

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

In Great Britain, Gross Domestic Product, the main measure of economic activity and growth is forecasted to show the same growth of 1.1% q/q in Q2 2010, as shown in the previous quarter.
Later in Hreat Britain, Bank of England Deputy Governor Charles Bean also speaks at the Federal Reserve Bank of Kansas City’s Economic Symposium, in Jackson Hole the main economic event this weekend may create market volatility.

More in Great Britain, Preliminary Business Investment a leading indicator of economic health expected to grow by 2.3% following better than expected 8.7% rise in the previous quarter and Index of Services predicted 0.7% rise after 0.8% in June.

In Switzerland, KOF Economic Barometer index designed to predict the direction of the economy over the following 6 months is expected to reach 2.22 points 0.01 less than the previous month.

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

That’s it for today. Happy forex trading!

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