Forex Daily Outlook – March 15th 2010
After the dollar retreated last week, Monday opens with many US releases. TIC Long-Term Purchases will probably shake the market, among other events. Let’s see what’s up for today:
In Australia, a speech by Malcolm Edey, RBA assistant governor, can move the markets very early in the week. This speech comes a day before the meeting minutes from the latest decision are released.
For more on the Aussie, read the AUD/USD forecast.
In Britain, the Rightmove HPI is expected to show a moderate rise in house prices, possible pushing the Pound and helping its recovery. See more events in the GBP/USD forecast.
Swiss PPI is expected to rise by 0.2%, similar to last month’s rise. The Swiss National Bank doesn’t deny intervention, but has done less recently.
In Europe, the quarterly Employment Change figure is expected to drop again. As this is a late figure, the impact is limited. For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
Moving to the US, already after a shift to daylight savings time, the Empire State Manufacturing Index will start the day. It’s expected to drop from 24.9 to 21.9 points.
The more important event is the release of TIC Long-Term Purchases, which are predicted to drop to 37 billion. This number was better than expected last month and could surprise again, boosting the dollar.
Also n the US: Capacity Utilization Rate is expected to remain unchanged at 72.6% and Industrial Production will probably rise by0.1% after a 0.9% jump last time.
That’s it for today. Happy forex trading!
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