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Forex Daily Outlook – July 30th 2009

American Unemployment Claims and British Nationwide HPI are the main dishes for today, and there are more interesting releases. Let’s see what’s up for today:

Australian Building Approvals start the day. After plunging by 12.5% last month, they’re expected to bounce back and rise by 7.2%.

In Britian,  Nationwide HPI is an important release for the whole British economy. After rising by 0.9% last time, it’s predicted to rise by 0.3%. Near the end of the day, British  GfK Consumer Confidence is expected to show that British consumers are still pessimistic, but a little bit less. A rise from -25 to -23 is predicted.

For more on GBP/USD, read the British Pound Outlook.

In Europe,  German Unemployment Change is expected to rise yet again, this time by 44K. Employment is important in this election year.

Canadian  RMPI (Raw Materials Price Index) is expected to rise by 3.1% after showing a gain of 2.2% last time. For more on USD/CAD, check out the Canadian Dollar Outlook.

American Unemployment Claims have settled nicely below 600K, but they’re expected to lift their head from 554K to 578K.

Japanese  Household Spending is published late in the day and isn’t predicted to move. The more worrying figure in Japan is  Tokyo Core CPI which is predicted to show an annually adjusted fall of 1.7% in prices. Deflation is big in Japan…

Japanese  Unemployment Rate will probably remain under control, edging up from 5.2% to 5.3%.

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.