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Forex Daily Outlook – August 17th 2009

Monday usually doesn’t supply many figures. This time it’s different. Japanese Prelim GDP is released, and also American  TIC Long-Term Purchases will move the markets. Let’s see what’s up on the menu for the first week of August:

Britain supplies a very early start for the forex trading week with a house price index – the  Rightmove HPI, an early indicator, that rose 0.6% last time.

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

Japan is expected to return to growth in the second quarter, following Germany and France. Prelim GDP is predicted to rise by 1.1% in the second quarter, after plunging by 3.8% in the first quarter.  Prelim GDP Price Index is published together with the Prelim GDP, and it’s predicted to rise by 1.8%.

In Switzerland, that “suffers” from central bank interventions, Retail Sales are predicted to rise by 0.8%, after falling by 1.4% last time.

European Trade Balance enjoys a surplus, which is expected to grow from 0.8 billion to 1.4 billion. For more on the Euro, read the EUR/USD Outlook.

American Empire State Manufacturing Index disappointed last time by falling 0.6 points. This time it’s predicted to be positive – 2.8 points. The more interesting American release from today is the  TIC Long-Term Purchases, which is expected to reflect a positive flow of money into the US, 17.7 billion. Last month, money fled out of the country.

Note the MI Leading Index due later this week in Australia.

That’s it for today. Not a bad start. It gets more busy later on. Check out the Forex Weekly Outlook for more.

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.