Home Forex Daily Outlook – January 25th 2010
Daily Look

Forex Daily Outlook – January 25th 2010

The week starts slowly without too many events. American Existing Home Sales stand out today. Let’s see what’s up for today.

Australian producer price index (PPI) disappointed with a drop of 0.4%. This important, quarterly figure was expected to rise by 0.1% after rising in the same manner last quarter. AUD/USD was going up before the release, and slowed down afterwards.

Later in the week, a more important inflation figure is due: CPI. For more on the Aussie, read the AUD/USD forecast.

German GfK Consumer Climate score 3.2 points, less than last month’s 3.4 points. EUR/USD reacted with a small drop from 1.4166 to 1.4136, still within the 1.40 to 1.42 trading range. A more important survey is tomorrow, from Ifo. Read more about the Euro in the EUR/USD forecast.

American Existing Home Sales made nice rises in the past two months, jumping from 5.57 to 6.54 million during this time. A setback is predicted to fall below 6 million – to 5.95 million. This will impact the dollar across the board.

That’s it for today. There’s lots more ahead. Check out the weekly outlook for more.  Happy forex trading!

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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.