Home Forex Daily Outlook – May 18th 2009
Daily Look

Forex Daily Outlook – May 18th 2009

The week starts slowly, with Canada being on holiday, and not too many indicators standing out. Still, there are some events that might move the markets. Let’s see what’s up for the start of the new trading week:

New Zealand’s PPI Input starts the forex trading week, actually on Sunday, just before midnight. It’s expected to fall by 0.1%, much better than last quarter’s 2.2% fall. PPI Output is expected to rise by 0.4%.

In Britain, the Rightmove HPI is published also before day break (GMT).

Japanese Household Confidence is expected to rise to 32.1, from 28.9. The Japanese economy is still at rock bottom.

In Europe, Trade Balance is expected to show a deficit of 3.8 billion, less than last month. Also note a speech by Deutsche Bundesbank President Axel Weber, one of the key members in the European Central Bank (ECB). This might move the EUR/USD.

Also in the US no major indicators are published today. Still, the NAHB Housing Market Index might move the markets. Also US Treasury Secretary Timothy Geithner is known for his ability to shake the dollar. He’ll speak at the Newsweek Magazine Event, in Washington DC.

Just before the day ends, RBA Governor Glenn Stevens will speak (in Sydney) and might shed some light on Austalia’s strong economy.

That’s it for Monday. For an overview of the week’s events, 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.