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 today in Europe, but headlines regarding Greece might still appear. Let’s start the review:
The Bank of Japan is expected to leave the Overnight Call Rate unchanged at 0.10%. The yen will move by the wording of the Monetary Policy Statement that might include a revised forecast of the economy, and by the sentiment that will be felt in the accompanying BOJ Press Conference.
In Australia, the NAB Quarterly Business Confidence is expected to show a positive number, following last quarter’s score of 16 points. On the other side of the day, RBA governor Glenn Stevens will make a public appearance and will probably shake the Aussie as well.
For more on the Aussie, read the AUD/USD forecast.
In Switzerland, Trade Balance is expected to show a bigger surplus – 1.8 billion. Later, the ZEW Economic Expectations figure for Switzerland will be released. The last score of 56.2 points will probably be followed by something similar. This score is better than Germany and the EU.
The SNB doesn’t like these positive figures – they want a weaker Franc.
After inflation and employment, today we have a lighter British release: CBI Industrial Order Expectations which are predicted to edge up from -39 to -35. Later in the day, BOE Executive Director Paul Fisher will make a public appearance and might lay out future policy. For the Pound’s technical levels, read the GBP/USD forecast.
In Canada, inflation went back to normal after one month of strong rises. Also now, CPI is predicted to to rise by 0.3% and Core CPI by 0.1% – modest rises indeed. These follow drops last month.
Also in Canada, Foreign Securities Purchases which have jumped to 10.5 billion last month, are expected to drop to 7.5 billion. This still reflects confidence in the Canadian economy. For more on the loonie, read the USD/CAD forecast.
In the US, Unemployment Claims fell to 440K last week, and they’re predicted to edge up to 445K. Another fall could convince everybody that we’ll have a positive NFP this time.
American producer prices are predicted to leap – after rising by 0.4% last month, a jump of 0.8% is expected this time. Core PPI is predicted to be more moderate – a rise of 0.2%.
Later in the US, the Philly Fed Manufacturing Index is predicted to follow the Empire State Manufacturing Index earlier this week and rise from 15.2 to 17.2 points. This is usually a serious market-mover. Also in the US, CB Leading Index is predicted to rise by 0.6%.
For another technical look at EUR/USD, check out Casey Stubbs’ article.
That’s it for today. Happy forex trading!
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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 day after [...]
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 at 1.6574. [...]
Forex Daily Outlook – October 15th 2009
CPI figures from Europe and from the US dominate the scene today, as the US dollar continues to go downhill. Will the fall continue? Let’s see what will impact trading today:
Australia’s MI Inflation Expectations remained on 3.5%, exactly like last month. Glenn Stevens, governor of the RBA, hinted that more rate hikes are underway. This [...]
Forex Daily Outlook – September 16th 2009
The dollar continues to weaken, especially after Bernanke’s speech. Today’s calendar is packed with CPI from Europe and the US, employment figures in Britain and many other releases. Let’s see what’s up for today.
Although the dollar weakens, it doesn’t affect all currencies. Mervyn King sent the Pound down yesterday. On the other side of the [...]
Swiss Franc Outlook – September 14-19 2009
The Swiss Franc has been one of the currencies that most enjoyed the dollar’s big fall last week. Together with the very crowded week ahead, the Swissy sure is worth to watch. Here’s an outlook for 5 key events and a technical analysis for USD/CHF.
USD/CHF forex chart with support and resistance lines
Last week’s better-than-expected unemployment [...]
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