Forex Daily Outlook – September 3 2010

We end this week with some interesting news in the US, Unemployment Rate Percentage & Non-Farm Employment Change, in Great Britain Services PMI, Paul Tucker speaks and more. Let’s see what awaits us today.

In the US, The Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI), Survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories. Industry expansion of 53.6 points.

Later in the US, the number of employed people during the previous month, excluding the farming industry, vital economic data indicates increasing of 30K, since Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

More in the US, Unemployment Rate Percentage of the total work force that is unemployed and actively seeking employment during the previous month increase by 1% it is an important signal of overall economic health.

Finally in the US, Average Hourly Earnings, the price businesses pay for labor, excluding the farming industry; increased by 1% and It’s a leading indicator of consumer inflation – when businesses pay more for labor the higher costs are usually passed on to the consumer.

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

In Europe, Retail Sales, the total value of inflation-adjusted sales at the retail level increased by 3% and it’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

More in Europe, Final Services Purchasing Managers’ Index (PMI, Survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories stabilized on 55.6 points.

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

In Great Britain, Halifax House Price Index (HPI), the price of homes financed by HBOS, remained the same as for last month attract investors and spur industry activity.

More in Great Britain, Services PMI, Survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories, businesses react quickly to market conditions.

Finally in Britain, Bank of England (BOE), Deputy Governor Paul Tucker speaks at the Korea – Financial Services Board Reform Conference: An Emerging Market Perspective, in Seoul.

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

In Switzerland, Consumer Price Index (CPI); the price of goods and services purchased by consumers increases by 8%.

That’s it for today. Happy forex trading!

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Forex Daily Outlook – September 2 2010

U.S. Unemployment Claims, U.S. Pending Home Sales and the Euro-zone GDP are at the front of the news. Here is an outlook on all market moving events awaiting us today. In the US, Unemployment Claims was lower than expected in the previous week with 473K a rise of 3000 to 476K is expected now.

Aussie Rising With Economy

Australian GDP surprised in Q2 with a strong growth rate of 1.2%, higher than expected. This helped AUD/USD settle above 0.90 and aim for the next resistance level. Update on this high yielding currency. Australia publishes its Gross Domestic Product quite late, and doesn’t provide preliminary releases. After all the wait, the news were good:

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Forex Daily Outlook – August 31 2010

U.S. Consumer Confidence, U.S. FOMC Meeting Minutes and Canada’s GDP are the major events on today’s menu. Here is an outlook on the market moving events awaiting us today. In the US, Consumer Confidence Index forecasts a small increase in consumer confidence to 50.7 from 50.4 however an unexpected decline in the index would be possible [...]

Forex Daily Outlook – August 30 2010

A busy week begins with a busy day – US consumer spending is the highlight of today, amongst many releases from around the world. Will we see more devastating figures already today? Or will tension remain high until the Non-Farm Payrolls? Let’s see what’s up for today: In New Zealand, economic figures are released early [...]

Forex Binary Options Setups – August 30 – September 3

Non-Farm Payrolls, GDP releases, consumer confidence and many more high risk news event provide opportunities for binary options on currencies. Here are potential setups for forex this week. Binary options can be utilized as an alternative to the traditional stop loss, as a tool for protecting against false breakouts and lots more. One-hour binary options [...]

AUD/USD Outlook – August 30 – September 3

A very busy week expects Aussie traders, with GDP and 12 other events to rock the currency, that still shakes by the election results. Here’s an outlook for the Australian events and an updated technical analysis for AUD/USD. AUD/USD daily chart with support and resistance lines marked. Click to enlarge: The elections ended in a [...]

EUR/USD Outlook – August 30 – September 3

The calendar is packed for the Euro in the upcoming week, with the rate decision being the highlight. Here’s an outlook for European events and an updated technical analysis for the ranging EUR/USD. EUR/USD daily chart with support and resistance lines marked. Click to enlarge: Echoes from the downwards revision of US GDP and also [...]

Forex Daily Outlook – August 24 2010

We have some interesting updates coming up today, Existing Home Sales in the US, Core Retail Sales in Canada, Inflation Expectations Percentage in New Zealand and more. Let’s see what awaits us today. In the US Existing Home Sales, the main gauge of the condition of the US housing market measuring the number of closed [...]

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