The week starts with a strong note, with Japanese GDP. And there are a few more events to watch out for. Here’s the daily outlook.
EUR/USD made a swing move downwards on Friday but closed above 1.3580. Where will it go this week? Check out my EUR/USD forecast for the events that will move the Euro, and follow Casey Stubbs for fresh technical analysis. Le’s start the review:
The day starts early, actually on Sunday at 23:50 GMT, with the initial Japanese GDP report for Q4. After seeing weak growth of 0.3% in Q3, the Japanese economy is predicted to expand by 1% in Q4. This will have an impact on other markets as well.
In Britain, the Rightmove HPI has shown a modest rise in house prices last month (0.4%) and it’s predicted show similar performance this time.
For technical levels on GBP/USD, check out the British Pound forecast.
In Switzerland, PPI is expected to remain stable with a rise of 0.1%. Note that this currency is tricky, as the SNB likes intervening on Fridays.
No indicators are released in the US, but we’ll have a speech by Treasury Secretary Timothy Geithner will testifying in front of the House Budget Committee and might shake the markets.
In New Zealand, quarterly PPI is predicted to rise by 0.5% after dropping by 1.1% in the previous quarter. The importance of this indicator comes from it’s frequency – only once a quarter.
That’s it for today. Happy forex trading!
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