Forex Daily Outlook – August 19 2010
Very busy day filled with interesting and varied news. Philly Fed Manufacturing Index in the US, James Bullard speaks in Arkansas, Retail Sales in Great Britain, , German PPI in Europe and more. Let’s see what awaits us today.
In the US, Unemployment Claims, The number of individuals who filed for unemployment insurance for the first time during the past week decreased by 5K, the nation’s earliest economic data, and the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
Later in the US, Philly Fed Manufacturing Index, monthly survey of about 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level of general business conditions; indicates improving conditions 7.2 points, It’s a leading indicator of economic health, changes in businesses sentiment can be an early signal of future economic activity such as spending, hiring, and investment.
Finally in the US, Federal Reserve Bank of St Louis President James Bullard speaks about the US economy at the John Q Hammond Center, in Arkansas. Affects the nation’s key interest rates and the future monetary policy.
In Canada, Leading Index, the level of a composite index based on 10 economic indicators increased by 6% and this index is designed to predict the direction of the economy.
More in Canada, Wholesale Sales, the total value of sales at the wholesale level increased by 5% and it’s a leading indicator of consumer spending – retailers generally order more goods from wholesalers when they expect consumer sales to increase.
For more on USD/CAD, read the Canadian dollar forecast.
in Europe, German Producer Price Index (PPI), the price of goods sold by manufacturers has decreased by 4% and It’s a leading indicator of consumer inflation – when manufacturers charge more for goods the higher costs are usually passed on to the consumer.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Great Britain, Retail Sales, the total value of inflation-adjusted sales at the retail level that Released monthly, has decreased by 3% and it’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
More in Great Britain, Prelim Mortgage Approvals, Number of new mortgages approved for home purchases during the previous month has decreased by 1K, and It’s a leading indicator of housing market demand – most home purchases are financed with a mortgage, so it provides an excellent gauge of how many qualified buyers are entering the market;
Later in Great Britain, Public Sector Net Borrowing, in value between spending and income for public corporations, the central government, and local governments during the previous month has decreased by 9.4B and indicates a budget deficit.
Finally in Britain, Confederation of British Industry (CBI) Industrial Order Expectations, Monthly Survey of about 550 manufacturers which asks respondents to rate the relative level of order volume expected during the next 3 months, indicates expectations are for lower volume on -14 points.
Read more about the Pound in the GBP/USD forecast.
In Switzerland, Trade Balance, the Difference in value between imported and exported goods during the reported month has increased by 0.09B and indicates that more goods were exported than imported.
More in Switzerland, Zentrum fur Europaische Wirtschaftsforschung (ZEW), Economic Expectations, ac Monthly Survey of institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Switzerland indicates optimism of 2.2 points.
In New Zealand, Visitor Arrivals, the number of short-term overseas visitors who arrived in the country stabilizes on 3%. Tourism plays an important role in the economy – about 10% of the population is employed by the tourism industry, and a sizable portion of the nation’s GDP is indirectly related to tourism.
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 16 2010
US Building Permits and PPI are released, Federal Reserve Chairman Ben Bernanke speaks in New York and Capacity Utilization Rate is expected to grow. Let’s see what’s awaiting us today. In the US, Building Permits expected to rise this month by 20,000 units following the unpredicted drop to 0.61M in the previous month while Housing [...]
Forex Daily Outlook – May 20 2010
US Philly Fed Manufacturing Index is released; Unemployment Claims are expected to drop once again, CB Leading Index is heading for a decrease. This and more awaits us today. In the US, Philly Fed Manufacturing Index, survey of about 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level [...]
Forex Daily Outlook – April 22nd 2010
A very busy day expects forex traders, Flash Manufacturing PMI and Services PMI influence on Europe; let’s see what’s awaiting us today. Group of Twenty (G20); while it’s not an institution, the G20 is an influential global policy-making body operating at the highest level, and their initiatives and policies can impact the currency markets.
Forex Daily Outlook – March 18th 2010
Many American figures are due today, so lots of action is awaiting us. Will the dollar continue to weaken? Let’s see what’s up for today. EUR/USD hasn’t broken the critical 1.3850 level. I still claim that the current rise is temporary before the fall. GBP/USD made it above the critical line of 1.5350, but has [...]
Forex Daily Outlook – February 18th 2010
Yet another busy day expects traders: a rate decision in Japan, American PPI, and American jobless claims stand out. There are many other events as well. The Greek crisis is fading away. EUR/USD isn’t the only pair to enjoy this. Also commodity currencies are on the rise, enjoying risk appetite trading. There are no releases [...]
Forex Daily Outlook – January 21st 2010
Another busy day is due with Chinese figures in the limelight. Let’s see what’s up for today. Will the dollar continue raging? EUR/GBP, which I’ve been following in the past week is definitely continuing the free fall, breaking more support lines on the way down. The main reason is the weakness of the Euro.
Forex Daily Outlook – December 17th 2009
Life goes on after the FOMC Statement which creatively left the market unchanged. Today’s highlights are British retail sales, Canadian CPI and American jobless claims. Let’s see what’s up for today in forex trading: There are no significant events in Europe today, but I recommend reading Casey Stubbs’ article about the dollar strength and the Euro. A [...]
Forex Daily Outlook – November 12th 2009
After remembrance day, the calendar is busy once again, with employment figures from the US and Australia standing out. Let’s see what awaiting us: Arabic version of this daily outlook A big drama was seen in Britain yesterday, with good employment figures helping the Pound, before Mervyn King sent it down. GBP/USD is back down [...]
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