Home Forex Daily Outlook – March 16th 2009
Weekly Forex Forecasts

Forex Daily Outlook – March 16th 2009

The week starts with CPI in Europe, American  Empire State Manufacturing Index,  TIC Long-Term Purchases (amidst serious debt fears) and a few other interesting economic releases. Let’s take a look…

British  Rightmove HPI rose by 0.9%. This surprising rise in house prices isn’t common in Britain. GBP/USD now trades at 1.4070

In Europe, CPI is expected to rise at an annual rate of 1.2%. Core CPI is expected to rise by 1.6%. Prices are stable in Europe. EUR/USD now trades at 1.2938.

In the US,  Empire State Manufacturing Index is expected to decline by “only” 31.5 points, after falling 34.7 points last time. Manufacturing is dropping fast in the US.  

The main figure from the US today is the  TIC Long-Term Purchases, which shows the money flow. It’s expected to stand at 44.3 billion, more than 34.8 billion last month.

More notable releases today are the  Capacity Utilization Rate (71.1% expected) and  Industrial Production, expected to decline by 1.2%, better than last month’s decline of 1.8%.

In the afternoon, ECB President Jean-Claude Trichet will speak.

To close the day,  Japan will release the  Tertiary Industry Activity, expected to fall  by 0.5%, but also a lower figure won’t surprise investors. USD/JPY now trades at 98.20

That’s it for Monday. The rest of the week is much more intense. Check out the Forex weekly outlook.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.