Forex Daily Outlook – September 1 2010
U.S. DAP Employment Report, ISM Manufacturing Index and Australian GDP are at the top of our market moving events for today. Here is an outlook on the economic activities awaiting us.
In the US, Automatic Data Processing Employment Report, a measure of jobs lost or added to the private sector of the economy, also serving as a preliminary estimate for the outcome of the monthly non-farm payrolls expecting a slower jobs creation of up to 20 K jobs in August from 42 K in July and Challenger Job cuts fell 57.2% in July totaled 41,676, a similar number is expected now, however the job-cut report must be analyzed with caution. It doesn’t distinguish between layoffs scheduled for the short-term or the long term, or whether job cuts are handled through attrition or actual layoffs.
More in the US, ISM Manufacturing Index, a leading indicator of industrial activity, expected to register another month of slower growth with the index pulling back to 53.2 from 55.5 in July and ISM Manufacturing Prices also predicted to drop to 55.5 from 57.5 in July.
Later in the US, The Department of Energy reported that in the week ending August 20th, 2010, U.S. crude oil increased by 4.1 million barrels, a smaller increase of 1.3M is expected now and Construction Spending expected to decrease by 0.4% following 0.1% increase in June.
Finally in the US, Total Vehicle Sales predicted to increase by 100K reaching 11.6M and Federal Reserve Governor Elizabeth Duke speaks about Neighborhood Stabilization at the Federal Reserve REO and Vacant Properties Summit, in Washington may affect interest rates and provide info on future monetary policy.
In Europe, German Retail Sales the primary gauge of consumer spending, expected 0.6% rise following a worse than expected drop of 0.9% in the previous month.
More in Europe, Final Manufacturing Purchasing Managers’ Index a leading indicator of economic health is foreseen to remain 55.0 indicating expansion.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, House prices a leading indicator of the housing industry’s health increased by 0.6% in July. This modest rise offset the 0.6% fall in June and is likely to increase this time as well.
More in Great Britain, Manufacturing Purchasing Managers’ Index a leading indicator of economic health predicted 57.1 points, 0.2 less than in the previous month but overall an encouraging figure.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, SVME Purchasing Managers’ Index expected to drop 1 point to 65.9 indicating stability and growth in the Swiss market.
In Australia, Gross Domestic Product, the main measure of economic activity and growth should confirm the expectations for faster economic growth in Q2 2010 by up to 0.9% q/q from 0.5% in the first quarter.
More in Australia, Commodity Prices a leading indicator of the nation’s trade balance since commodities account for over half of Australia’s export earnings has climbed 7% to 51.0% in July and is expected a similar rise this time as well.
For more on the Aussie, read the AUD/USD forecast.
In New Zealand, ANZ Commodity Prices dropped 0.8% in July a small rise is expected now.
In Japan, Monetary Base measuring change in the total quantity of domestic currency in circulation and current account deposits held at the BOJ forecasted 6.3% rise 0.2% more than in July.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – July 1 2010
Another busy day is ahead with American Unemployment Claims, American ISM Manufacturing PMI and American Pending Home Sales. Many other events will be reviewed today. Here’s an outlook for the market-moving events that are awaiting us. In the US, American Unemployment Claims: This weekly figure is still causing trouble for the dollar. Jobless claims refuse to [...]
Forex Daily Outlook – June 1 2010
Important events are with us today; US national ISM Manufacturing PMI and Canada’s BOC Rate Statement and Overnight Rate reports are issued. This events stand out I today’s news. In the US, ISM Manufacturing PMI is expected to drop to 59.6 from 60.4 in May. This drop comes after nine consecutive months of expansion but [...]
Forex Daily Outlook – May 3 2010
Starting the week with a variety of events. ISM Manufacturing PMI in the USD, Labor Cost Index in New Zealand and President Axel Weber speak in Frankfurt; Let see what else awaits us this day, In the US, Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI); Survey released monthly of about 400 purchasing [...]
Forex Daily Outlook – April 1st 2010
American Weekly Unemployment Claims and ISM Manufacturing PMI will be in the limelight on April’s fools day, among figures from all over the world. Let’s see what’s up for today. The tension towards Friday’s Non-Farm Payrolls continues to mount. The dollar, that had a rough beginning to the week, is correcting the losses. Will this [...]
Forex Daily Outlook – February 1st 2010
The calendar is quite busy for a Monday: the first day of February provided many figures from all over the world, with American ISM Manufacturing PMI being the highlight. Let’s see what’s up for today: Australia starts the day with many figures: the AIG Manufacturing Index is expected to rise while the MI Inflation Gauge [...]
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 [...]
Forex Daily Outlook – December 1st 2009
Forex markets are still digesting the Dubai crisis as lots of indicators pour in. A big day awaits forex traders: a rate decision in Australia, GDP in Switzerland and Pending Home Sales are only a small portion of the events today. Let’s see what’s on the crowded calendar: Australian Building Approvals start the day with [...]
Forex Daily Outlook – November 2nd 2009
This busy week began with a small retreat by the dollar. Will it continue? Or will last week’s fear resume? Today’s Pending Home Sales and ISM Manufacturing PMI are in the limelight today. Let’s see how this week begins: In Australia’ the AIG Manufacturing Index dropped modestly to 51.7. The more interesting MI Inflation Gauge [...]
Forex Daily Outlook – October 1st 2009
American figures dominate the scene on the first day of the last quarter. Unemployment Claims, Pending Home Sales and Ben Bernanke will stand out. There are many other releases today, including two unemployment rate figures. Let’s see what’s up for today: German Retail Sales started the day with a serious fall of 1.5%, after last [...]
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