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 due to the current deteriorating economic conditions.
More in the US, Federal Open Market Committee Meeting Minutes consisted of the Federal Board of Governors plus 5 of the 12 Federal Reserve Bank presidents set the key interest rates for the USA, and also control the money supply may have a smaller effect on the market since early information was already released in the FOMC Statements.
Finally in the US, S&P/CS Composite-20 HPI measuring change in the selling price of single-family homes in 20 metropolitan areas is forecasted 3.8% rise following 4.6% rise in June and Chicago Purchasing Managers’ Index a leading indicator of economic health expected to drop to 57.3 points after reaching 62.3 points in July.
In Canada, Gross Domestic Product, the main measure of economic activity and growth foreseen a modest growth in August by 0.2% m/m from the 0.1% m/m reading in July.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, German Unemployment Change released monthly predicted a positive change of 19K in the unemployed 1000 less than in June and also the best reading in five months.
More in Europe, Consumer Price Index Flash Estimate inflation indicator predicted to rise by 1.6% following 0.1% less than July.
Finally in Europe, Unemployment Rate in the Euro-Zone expected to remain 10.0%without change.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Net Lending to Individuals measuring change in the total value of new credit issued to consumers indicating rising confidence with a predicted rise of 0.7B following 0.6B in June.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, UBS Consumption Indicator combines reading of 5 economic indicators including consumer confidence, consumer spending, tourism, new car sales, and retail activity climbed to 1.81 points in June, a similar rise is expected now.
In Australia, Building Approvals an excellent gauge of future construction activity expected an improvement with a small drop of only 0.6% following three months of plunges 2.7% less than in June.
More in Australia, Retail Sales are also on the rise predicted an increase of 0.4% after only 0.2% in June and July.
Later in Australia, Current Account deficits expected an impressive reduction of 10.2B compared to the previous quarter resulting in 6.4B deficit this is the lowest reading since June 2009 and Private Sector Credit also increases by 0.3% 0.1% more than in the previous month.,
For more on the Aussie, read the AUD/USD forecast.
In Japan, Average Cash Earnings foreseen 0.9% rise 0.6% less than in the previous month.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – July 27 2010
U.S. CB Consumer Confidence and U.S. Composite-20 House Price Index are the main events today. Here is an outlook on the activities at hand. In the US, CB Consumer Confidence forecasted to continue decreasing from 52.9 to 51.5 points following 63.3 points in May.
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 [...]
Forex Daily Outlook – May 25 2010
US Consumer Confidence is expected to continue its rise as well as Composite-20 HPI. US, Federal Reserve Bank of St Louis President James Bullard delivers a speech in London and House Price Index is expected to rise. Let us see what awaits us today. In the US, CB Consumer Confidence is expected to continue its rise [...]
Forex Daily Outlook – April 27 2010
A good stat of the week for US market Consumer Confidence index and House Price Index are expected to rise. A Positive tendency is also felt in other markets. Let’s see what awaits us today. In the US, Consumer Confidence is up in the US, a leading indicator of consumer spending released monthly shows an [...]
Forex Daily Outlook – March 30th 2010
Today’s calendar is already busier. British Final GDP and the American CB Consumer Confidence will stand out. Let’s see what’s awaiting us today. Non-Farm Payrolls for March continue to carry high expectations. While this might boost the dollar, Monday’s trade wasn’t too favorable for the greenback. Today’s figures could set the direction:
Forex Daily Outlook – February 23rd 2010
A busy day expects traders, with a major survey in Europe, American consumer confidence and lots more. Let’s see what’s awaiting us. There’s still lots of talk about Bernanke’s mini rate hike. Although Monday saw some recovery, there’s still a notion that the Federal Reserve will be one of the more aggressive central banks regarding [...]
Forex Daily Outlook – January 26th 2010
After a slow day, we have a very busy day today, starting with a rate decision in Japan. Then, we’ll get to know if Britain exited the recession, an important European survey will shake EUR/USD and American consumer confidence will move the dollar. Let’s see what’s up today: Apart from the regular economic releases, a [...]
Forex Daily Outlook – December 29th 2009
After a day in which many countries were on holiday, today most markets are open, and there are a few notable indicators, with American consumer confidence being the most important one. Let’s see what’s up for today: In Switzerland, the UBS Consumption Indicator is predicted to edge higher from last month’s 0.87 points. USD/CHF seems [...]
Forex Daily Outlook – November 24th 2009
After some dollar weakness but continuing range trading, at least for EUR/USD, an extremely busy day expects traders: revised GDP in the US, and Germany are only a few of the upcoming events in this long day. Here’s the (long) daily outlook: Japan’s BOJ Monthly Report starts the day, with an insight into the economy. [...]
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