Home Forex Daily Outlook – April 16th 2009
Daily Look

Forex Daily Outlook – April 16th 2009

Lots of inflation figures will be released today all over the world. Also note the recovering American housing figures and the weekly Unemployment Claims. Let’s see what’s up today.

In Australia, the RBA Monthly Bulletin will give a good indication on the Australian economy.  

In Switzerland, deflation fears are real – PPI is expected to fall by 0.2%, less than last month’s drop of 0.6%.

In Europe, the picture is more complex, with CPI expected to rise by 0.6% (annually adjusted). Core CPI is predicted to rise by 1.4%. More on European inflation.

Later in Europe,  Industrial Production is about to plunge by 2.5%, according to early estimations.

Moving to North America, Canadian  Manufacturing Sales are predicted to turn positive, and rise by 2.1%. The Canadian dollar has strengthened lately. Will this continue?

American Building Permits are expected to stay stable, at 0.55M. Housing starts are expected to drop from 0.58K to 0.54K. American housing is above the bottom. This trend should continue also today, and that Housing Starts won’t fall.

Weekly Unemployment Claims are expected to rise slightly – from 654K to 657K. The job market situation is dire. It could be worse.

Also in the US,  Philly Fed Manufacturing Index is estimated to fall by 31.8 points, better than last month’s -35. Later,  Federal Reserve Bank of Atlanta President Dennis Lockhart will give a speech about the crisis.

Near the end of the day, New Zealand’s CPI is expected to rise by 0.3%, after falling by 0.5% last quarter. In Japan, the  Tertiary Industry Activity is expected to drop by 0.7%. The previous reports from the Japanese industry were extremely bad. So, a bigger drop won’t be a huge surprise.

Happy Forex Trading!

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.