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 – Trade Balance is expected to turn negative – a deficit of 28 million is expected to follow a few months of surplus.

Later in New Zealand, the NBNZ Business Confidence is an important official release that always rocks the kiwi. It fell to 27.9 points last month, hurting the currency. To close the day, Building Consents, are released, and will show how the housing sector is doing.

For more on the New Zealand dollar, read the NZD/USD forecast.

In New Zealand’s neighbor, Australia, Company Operating Profits are expected to shine with a growth rate of 5.9%, better than last time.

On the other side of the day, a speech by Guy Debelle, the RBA Assistant Governor, will speak, and is likely to shed some light on monetary policy.

For more on the Aussie, read the AUD USD forecast.

In the US, a busy week of releases begins with the important Personal Spending release. American probably spent 0.4% more in the past month, after an unchanged figure last time. Note that as many economic indicators were awful lately, also now, a decrease in growth is also likely, and this can put the markets into depression.

Also in the US, Core PCE Price Index is expected to rise by 0.1% after not moving last month, Personal Income is expected to rise by 0.3% and a member of the Federal Reserve, James Bullard will speak in St. Louis, and he might add to Bernanke’s speech on Friday. Bernanke vowed to do everything possible to keep the recovery alive.

How bad is the situation in the US?

In Canada, Current Account is expected to show a bigger deficit of over 10 billion, up from 7.8 billion last month. On the other hand, the loonie might cheer up from a rise in the RMPI – a rise of 0.3% will boost Canada’s export-oriented economy.

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

British banks are officially on a holiday. But, at the end of the day, at midnight UK time, the interesting GfK Consumer Confidence will be released and is likely to drop from -22 to -23 – showing that consumers are more pessimistic.

Cable traders expect a busy week ahead. For more on sterling, read the GBP USD forecast.

The bank of Japan might intervene in trading to weaken the yen. While the slow policymakers continue thinking, the yen will move by economic indicators:

Retail Sales are expected to rise at an annual rate of 3.1%, slower than last month’s 3.3% rate. At the same time, the preliminary figure for industrial production is likely to drop for another month, but at a slow scale of 0.3%, less than last month’s 1.1% drop.

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..

USD/CAD Outlook – August 30 – September 3

The Canadian dollar expects another rather calm week, but with one key event to rock it – GDP. Here’s an outlook for the Canadian events and an updated technical analysis for USD/CAD, now on higher ground. USD/CAD daily chart with support and resistance lines marked. Click to enlarge: Weak retail sales and the growing notion [...]

Forex Daily Outlook – July 29 2010

U.S. Unemployment Claims the early indicator of Non-Farm Payrolls is the highlight of today’s news. Let’s see what awaits us today. In the US, Unemployment Claims rose last week to 464K worse than expected a smaller rise to 457K is expected now. As an early indicator of Non-Farm Payrolls it has a major effect on [...]

USD/CAD Outlook – July 26-30

The monthly release of GDP on Friday is stands out in a light-calendered week. Here’s an outlook for the Canadian events and an updated technical analysis for USD/CAD. USD/CAD chart with support and resistance lines on it. Click to enlarge: The initial reaction to the rate hike was weak, as the BOC also lowered the [...]

Forex Daily Outlook – June 29 2010

Some exciting news in the US with S&P/CS Composite-20 HPI, in Britain the Net Lending to Individuals and more interesting events, let’s see what await us today. In the US, a slit rise in the Conference Board (CB) Consumer Confidence, a survey of about 5,000 households which asks respondents to rate the relative level of [...]

USD/CAD Outlook – June 28 – July 2

Canadian monthly GDP is the highlight in the upcoming week. Here’s an outlook for the Canadian events and an updated technical analysis for USD/CAD. USD/CAD daily chart with support and resistance lines on it. Click to enlarge: Canadian CPI came out as expected, and this wasn’t loonie-positive. There’s no rush for speedy tightening cycle by [...]

Forex Daily Outlook – May 31 2010

The week begins with several important events, despite a holiday in the US and Britain. Canada’s GDP and a speech from Trichet are the highlights of the day. Japan’s Prelim Industrial Production rose by 1.3%, half of early expectations that stood on 2.6%. This weakens the yen – USD/JPY is making an upwards move. There’s [...]

USD/CAD Outlook – May 31 – June 4

A combination of GDP, a rate decision and employment figures promise an exciting week for the Canadian dollar. Here’s an outlook for the Canadian events and an updated technical analysis for USD/CAD. USD/CAD graph with support and resistance lines marked. Click to enlarge: An improvement in the current account and the temporary relief that the [...]

USD/CAD Parity Battle Continues on Slower Canadian Growth

Canadian monthly GDP rose by 0.3% in February, slower than expected. This sets the stage for a close above parity this week. Will the rate decision wait? The rise of 0.3% missed early expectations that saw a 0.5% growth rate in February, although some economists saw this smaller growth rate. This was half of January’s [...]

Forex Daily Outlook – April 30 2010

Moderate changes in the major indexes are foreseen in the U.S. and European markets. The GDP and Employment Cost Index in the U.S. open today’s report. Let’s see what awaits us today. In the US, Advance Gross Domestic Product (GDP), is the earliest GDP release, measuring the annualized change in the inflation-adjusted value of all [...]

keep looking »

  • Forex Crunch

    Forex Crunch is a blog all about the foreign exchange market. It includes and will include: tutorials, basics of the forex market, daily and weekly forex analysis, technical analysis, forex software posts, and whatever is related to Forex. Forex Crunch aims to deal with forex trading, but with a more personal touch. More...

  • Stay up to date!

    Subscribe By Email

    Enter your email address:


    Trade together with Currensee

    Search

  • Forex Crunch Pages

  • Forex Categories

Bad Behavior has blocked 2063 access attempts in the last 7 days.