Home Forex Daily Outlook – July 24th 2009
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Forex Daily Outlook – July 24th 2009

Lots of European PMI figures and British GDP dominate today’s trading. Here’s what’s up for today:

European Purchasing Managers numbers dominate the morning.  French Flash Manufacturing PMI and  Flash Services PMI start the morning, at 7:00 GMT. Half an hour later,  the same German figures are released. Finally, at 8:00 GMT, the all-European PMI numbers are released. All these indices are expected to advance, but still remain under the critical 50 mark. Expansion isn’t near.

German Ifo Business Climate is a major indicator for the whole continent. It’s expected to continue rising, and reach 86.6. Slow and steady. EUR/USD will shake during these morning hours.

In Britain, the influx of data will reach a peak with the release of the Prelim GDP for the second quarter. Contraction is expected to ease to 0.3% after a devastating first quarter (-2.4). It’s published at 8:30. The Pound will move sharply at this time.

Check out the British Pound Outlook.

In the US, the only important publication is the  Revised UoM Consumer Sentiment which is predicted to stay high, and rise to 65.1

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.