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Forex Daily Outlook – June 9th 2009

After the continuing comeback of the dollar at the wake of the new week, the greenback stopped to rest. Also Tuesday doesn’t provide too many indicators, but two things will stand out:  German Industrial Production and a speech by Timothy Geithner. Let’s see what’s on the menu:

Australian  ANZ Job Advertisements start the day. The fell by 7.5% last time, and they should rise this time. Also in Australia,  NAB Business Confidence.

Japanese  Leading Indicators are expected to rise to 77.3%. Also in Japan,  Prelim Machine Tool Orders.

German Trade Balance is expected to show a rising surplus, and reach 9.4 billion. In France, the deficit in Trade Balance is predicted to squeeze to 4.4 billion.

Later,  German Industrial Production is predicted to decline by 0.2%, after staying unchanged last time. This is a significant figure for EUR/USD. Yesterday’s German Factory Orders were unchanged, exactly as expected. The number for the previous month was revised upwards, but that didn’t help the Euro against the dollar’s landslide.

For a coverage on the Euro’s main events, read:  EUR/USD – Will it Get on its Feet Again?

In Britain, Gordon Brown’s problems are still in the news. Regarding economic talk, there’s a speech by  BOE Deputy Governor Paul Tucker. Will he say something interesting? Also in Britain,  DCLG HPI is released.

In the US, there are two figures:  IBD/TIPP Economic Optimism is predicted to rise to 51 points, and  Wholesale Inventories are expected to fall by 1.1%. The more interesting news in the US are a speech by  US Treasury Secretary Timothy Geithner. He managed to shake the markets many tmes in the past.

Just before the end of the day,  Core Machinery Orders are predicted to show a smaller fall than last month, and decline by 0.2%.

That’s it. The week gets more interesting later on. Check out the Forex Weekly Outlook.

And, here’s a Canadian Dollar 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.