Forex Daily Analysis – February 10th 2009

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Tuesday morning begins with a somewhat stronger dollar, after weakening yesterday. Barack Obama seems to renew his election campaign, going out to the public and talking about the stimulus plan. Not much data today, but many speeches will dominate forex trading.

Data began pouring from Britain with a disappointing figure: RICS House Price Balance -76.3%. More from Britain, BRC Retail Sales Monitor went up 1.1%.

Later, the British Trade Balance (-8.1B) will be of interest to traders. The monthly CB Leading Index will also be released later. GBP/USD now trades at 1.4823. 

In Europe, French Industrial Production will dominate the scene. It’s expected to fall by 1.9%. Also the Italian Industrial Production will be of interest. EUR/USD is now at 1.2851. In Switzerland, the monthly CPI will be published later, expected to fall by 0.5%. USD/CHF is up to 1.1757.

And, the speeches take over the news. It begins with RBA Governor Glenn Stevens that will speak about Australia’s rather strong economy. Later, Canada’s BOC Governor Mark Carney will shed some light about his insights of the Canadian economy.

And in the USA, multiple speeches are expected from Treasury Secretary Timothy Geithner. Will he release another remark toward China?

Before him, FOMC Member Bill Dudley will talk. Also, Ben Bernanke, Chairman of the Federal Reserve, will talk about the markets’ liquidity, in front of the Financial Services Committee of the Congress.

So, not so much economic data, but lots of news.

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About Author

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.

1 Comment

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