Forex Daily Outlook – August 16 2010
We start the week with interesting development in US Treasury International Capital (TIC) Long-Term Purchases, Rightmove HPI in Great Britain, some interesting development regarding the Prelim GDP in Japan and more updates; let’s see what awaits us today.
In the US, Treasury International Capital (TIC) Long-Term Purchases is about to rise by 0.9B. This data represents the balance of domestic and foreign investment and measures the value between foreign long-term securities purchased by US citizens and US long-term securities purchased by foreigners during the reported period;
Later in the US, Empire State Manufacturing Index, Survey of about 200 manufacturers in New York state which asks respondents to rate the relative level of general business conditions, is about to rise by 3.1 points, It’s a leading indicator of economic health that measures the diffusion index based on surveyed manufacturers in New York state.
More in the US, Mortgage Delinquencies, Percentage of Mortgage Bankers Association (MBA) represented mortgages which were at least one payment late during the previous quarter, stabilizes on 10.06%, it’s generally viewed as a lagging indicator, the number of delinquencies can be an important signal of the housing market’s health because it’s correlated with home inventories.
Finally in the US, National Association of Home Builders (NAHB) Housing Market Index, Survey of about 900 home builders which asks respondents to rate the relative level of current and future single-family home sales will rise by 1 points but still indicates a negative outlook on home sales.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Consumer Price Index (CPI) stabilized on 1.7%, It’s the Eurozone’s most important inflation data because it’s used as the central bank’s inflation target. Consumer prices account for a majority of overall inflation.
More in Europe, Core CPI The Core data has a mild impact relative to other countries because overall CPI is the central bank’s mandated inflation target and measures the price of goods and services purchased by consumers, excluding food, energy, alcohol, and tobacco; and it is about to rise by 1%.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Rightmove House Price Index (HPI), stabilizes on 0.6^, this is the UK’s earliest monthly report on housing inflation that measures the price of homes for sale
Read more about the Pound in the GBP/USD forecast.
In Australia, New Motor Vehicle Sales a monthly report that indicates a sign of consumer confidence – rising demand for expensive durable goods shows that consumers are confident in their future financial position and feel comfortable spending money.
For more on the Aussie, read the AUD/USD forecast.
In Japan, Prelim Gross Domestic Product (GDP), measures the inflation-adjusted value of all goods and services produced by the economy, it decrease from 1.2% to 0.6%. There are 2 versions of GDP released about a month apart – Preliminary and Final. The Preliminary release is the earliest and thus tends to have the most impact. And the Prelim GDP Price Index is about to decrease by 1% and It’s the broadest measure of inflation, encompassing all activities included in GDP, and is a primary instrument that the central bank uses to assess inflation.
More in Japan, Tertiary Industry Activity is about to rise up by 0.9%. It’s a leading indicator of economic health – businesses are quickly affected by market conditions, and changes in their spending can be an early signal of future economic activity such as hiring, earnings, and investment.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – July 15 2010
American Federal Reserve nomination vote, US producer price index, US Unemployment Claims and Industrial Production are among the major market moving events. Here is an outlook on today’s busy event schedule. In the US, American Federal Reserve nomination vote will focus on the appointment of 3 FOMC members. The US Senate will vote on Sarah [...]
Forex Daily Outlook – June 15 2010
An expected drop in US TIC Long-Term Purchases, a rise in US Empire State Manufacturing Index and a speech from Federal Reserve Bank of St Louis President James Bullard are the major events of the day. In the US, International Capital (TIC) Long-Term Purchases released monthly represents the balance of domestic and foreign investment is [...]
Forex Daily Outlook – May 17 2010
We start the week with a significant rise in TIC Long-Term Purchases in the US continues in Swiss SNB Chairman Hildebrand Speech, Let’s see the other interesting news up for today Treasury International Capital (TIC) Long-Term Purchases released monthly represents the balance of domestic and foreign investment is rising up to 50.5 Billion from 47.1 [...]
Forex Daily Outlook – April 19th 2010
The week begins without too many events, but a speech from Ben Bernanke will stand out. Let’s see what’s on the menu today. Federal Reserve Chairman Ben Bernanke, head of the central bank in the US, delivers opening remarks at the Financial Literacy and Education Summit, in Chicago, via satellite. He can move the currency. In the [...]
Forex Daily Outlook – March 16th 2010
The week opened with dollar strength on a rather light calendar. Today is already very bust: major releases in Europe are followed by the rate decision in the US: will Bernanke send new signals? Here’s the daily outlook. The strong volatility seen on Monday’s trading was also influenced by the different time difference between Europe [...]
Forex Daily Outlook – February 16th 2010
After a rather easy day, the calendar is busy again: British inflation numbers, German ZEW Economic Sentiment and American TIC Long-Term Purchases are the highlights. Let’s start: In Australia, we’ll get to see why the RBA didn’t raise the rates as expected. The Monetary Policy Meeting Minutes might also reveal future policy. Also in Australia, [...]
Forex Daily Outlook – January 19th 2010
After a holiday in the US, the market return to full gear with a busy day. We have American TIC Long-Term Purchases, a rate decision in Canada, and major events in Britain and Europe. Let’s see what’s up for this long day. Prices in Britain have been picking up, and this could strengthen the Pound [...]
Forex Daily Outlook – December 15th 2009
After an easy start on Monday, a long day awaits forex traders. Lots of American numbers are expected, with the TIC Long-Term Purchases on top. Also note British CPI, German economic sentiment and Australian meeting minutes. Let’s review the events of this busy day: British RICS House Price Balance starts the day early with an [...]
Forex Daily Outlook – November 16th 2009
The dollar started the week lower on more world recovery, this time from Japan. Today’s American retail sales, a speech by Bernanke and European inflation (or deflation) numbers are the highlights of the day. Let’s see what’s awaiting us today: Japan’s preliminary release of third quarter GDP was excellent: Gross Domestic Product rose by 1.2%, [...]
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