Home Forex Daily Outlook – June 8 2010
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Forex Daily Outlook – June 8 2010

US Federal Reserve Bank of Kansas President Thomas Hoenig delivers a speech in Kansas City, Federal Reserve Governor Elizabeth Duke speaks in Hollywood, US IBD/TIPP Economic Optimism and Canada’s Housing Starts are among today’s major activities.

In the US, Federal Reserve Bank of Kansas President Thomas Hoenig delivers a speech titled “Farming, Finance and the Global Marketplace” at the 2010 Agricultural Symposium, in Kansas City and Federal Reserve Governor Elizabeth Duke speaks about “Moving Beyond the Financial Crisis” at the Consumer Bankers Association Conference, in Hollywood.

Later in the US, IBD/TIPP Economic Optimism is expected to continue its rise reaching 49.3 points exceeding May’s reading by 0.6 points and getting close to the 50 point line.

In Canada, Housing Starts are also intended to rise from 201K to 203K providing encouraging news for the building industry.

For more on USD/CAD, read the  Canadian dollar forecast.

In Europe, German Industrial Production is expected to grow by additional 0.3% above the rise of 0.4% in May. This is a sharp rise  which exemplifies the ongoing recovery in the German market.

Also in  Europe, German Trade Balance is foreseen a balance  of  trade  surplus equivalent to  14.1B which is 200,000K less than the previous month.

Later in  Europe, French Trade Balance deficit is predicted to decrease by 400,000,000 from -4.7B in May and hopefully continue this positive trend.

Finally in  Europe, French Gov Budget Balance deficit is rising again after the sharp decrease in March report. It reached -28.9B in May.

For more on the Euro, read the  EUR/USD forecast and Casey Stubbs’  latest analysis.

In Great Britain, Nationwide Consumer Confidence is expected to gain 4 more points following May’s decrease reaching 78 points. This will hopefully help Britain Get Back on Track.

More in Great Britain, BRC Shop Price Index is likely to remain 2.0% as in May, stabilizing shop price inflation.

Read more about the Pound in the  GBP/USD forecast.

In Switzerland, CPI  is expected to slide down to 0.1%  from the unexpected pick of 0.9% in May, closer to its usual average.

More in Switzerland, Unemployment Rate is expected to remain unchanged reaching 4.0%.

In Australia, NAB Business Confidence is likely to remain around 13 points as in the previous month

For more on the Aussie, read the  AUD/USD forecast.

In Japan, Core Machinery Orders are expected to plunge to 1.2% following the rise of 5.4% in May.

More in Japan, Leading Indicators is expected to rise by 0.1% reaching 102.8%.

That’s it for today. Happy forex trading!

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Anat Dror

Anat Dror

Anat Dror Senior Writer I conceptualize, design and create multi-lingual websites. Apart from the technical work, my projects usually consist of writing content for these sites in English, French and Hebrew. In the past, I have built, managed and marketed an e-learning center for language studies, including moderating a live community of students. I've also worked as a community organizer