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Forex Daily Outlook – April 28th 2009

The ongoing swine flu crisis will continue to make the forex market sneeze. Apart from that,  CB Consumer Confidence is the main economic indicator of the day. And there’s more! Let’s dive in:

The swine flu is spreading quickly around the world, and cases have been reported virtually everywhere. This ignites fears of more economic pain – something that flocks traders into the dollar – risk aversion. More about the Swine Flu and the Dollar.

Swiss  UBS Consumption Indicator is a major gauge for the Swiss economy. It will shake the Swissy. Later in Switzerland,  SNB Governing Board Chairman Jean-Pierre Roth will deliver an important speech. The move to intervene in the forex market to weaken the Franc hasn’t succeeded. I wonder if he’ll relate to that.

In Britain,  CBI Realized Sales is expected to get slightly better, and fall by 40 points, better than last month’s -44. The British Pound will be moved by this.

In the US,  CB Consumer Confidence is predicted to rise to 29.6, from the deep lows of 26. These figures are terrible, and if there’s no surprise, it means that American consumers are still worrisome.

Jsut before the end of the day,  Trade Balance in New Zealand is expected to show a surplus, but smaller: 250 million instead of 489 million.

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.